State of Alaska Department of Revenue Grows Holdings in Equinix, Inc. (NASDAQ:EQIX)

State of Alaska Department of Revenue boosted its position in Equinix, Inc. (NASDAQ:EQIX - Free Report) by 1.8% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 58,824 shares of the financial services provider's stock after purchasing an additional 1,065 shares during the period. Equinix accounts for about 0.5% of State of Alaska Department of Revenue's portfolio, making the stock its 26th biggest holding. State of Alaska Department of Revenue owned about 0.06% of Equinix worth $47,960,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Norges Bank bought a new position in Equinix during the 4th quarter worth approximately $1,067,270,000. GAMMA Investing LLC boosted its position in shares of Equinix by 82,340.9% during the 1st quarter. GAMMA Investing LLC now owns 890,362 shares of the financial services provider's stock worth $725,957,000 after purchasing an additional 889,282 shares in the last quarter. Northern Trust Corp boosted its holdings in Equinix by 65.3% in the fourth quarter. Northern Trust Corp now owns 1,483,781 shares of the financial services provider's stock worth $1,399,042,000 after acquiring an additional 586,034 shares in the last quarter. Wellington Management Group LLP grew its position in Equinix by 28.7% in the 4th quarter. Wellington Management Group LLP now owns 1,804,227 shares of the financial services provider's stock valued at $1,701,188,000 after purchasing an additional 401,991 shares during the period. Finally, Raymond James Financial Inc. bought a new stake in shares of Equinix during the fourth quarter worth about $328,899,000. Institutional investors and hedge funds own 94.94% of the company's stock.

Analyst Ratings Changes

Several analysts have recently commented on the company. TD Securities increased their price objective on Equinix from $978.00 to $1,018.00 and gave the stock a "buy" rating in a research note on Thursday, May 1st. Stifel Nicolaus increased their price target on Equinix from $1,030.00 to $1,050.00 and gave the company a "buy" rating in a research report on Thursday, May 1st. Bank of America started coverage on Equinix in a research note on Monday, May 19th. They set a "buy" rating and a $1,000.00 price objective on the stock. Cfra Research upgraded shares of Equinix from a "hold" rating to a "strong-buy" rating in a research note on Friday, March 28th. Finally, Cowen reiterated a "buy" rating on shares of Equinix in a report on Thursday, May 1st. Three investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and six have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Equinix presently has a consensus rating of "Buy" and an average target price of $1,004.80.

Equinix Stock Performance

Equinix stock traded up $0.09 during midday trading on Thursday, reaching $886.85. The stock had a trading volume of 548,428 shares, compared to its average volume of 529,268. The firm has a market capitalization of $86.75 billion, a PE ratio of 92.19, a P/E/G ratio of 1.15 and a beta of 0.97. Equinix, Inc. has a 12 month low of $701.41 and a 12 month high of $994.03. The company has a quick ratio of 1.65, a current ratio of 1.65 and a debt-to-equity ratio of 1.20. The firm's 50-day moving average price is $858.40 and its 200 day moving average price is $887.14.

Equinix (NASDAQ:EQIX - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The financial services provider reported $9.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $9.01 by $0.66. The company had revenue of $2.23 billion for the quarter, compared to analyst estimates of $2.23 billion. Equinix had a net margin of 10.48% and a return on equity of 6.96%. The company's quarterly revenue was up 4.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $8.86 earnings per share. As a group, research analysts predict that Equinix, Inc. will post 33.1 earnings per share for the current fiscal year.

Equinix Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Wednesday, May 21st were paid a dividend of $4.69 per share. The ex-dividend date was Wednesday, May 21st. This represents a $18.76 dividend on an annualized basis and a dividend yield of 2.12%. Equinix's payout ratio is 195.01%.

Insider Activity at Equinix

In other Equinix news, CEO Adaire Fox-Martin sold 2,949 shares of Equinix stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $884.91, for a total transaction of $2,609,599.59. Following the completion of the transaction, the chief executive officer now owns 9,615 shares of the company's stock, valued at $8,508,409.65. The trade was a 23.47% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Kurt Pletcher sold 127 shares of the firm's stock in a transaction that occurred on Wednesday, May 7th. The shares were sold at an average price of $877.70, for a total transaction of $111,467.90. Following the completion of the transaction, the insider now owns 1,842 shares of the company's stock, valued at $1,616,723.40. This trade represents a 6.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 3,176 shares of company stock worth $2,808,008. 0.27% of the stock is owned by company insiders.

Equinix Company Profile

Equinix Nasdaq: EQIX is the world's digital infrastructure company . Digital leaders harness Equinix's trusted platform to bring together and interconnect foundational infrastructure at software speed. Equinix enables organizations to access all the right places, partners and possibilities to scale with agility, speed the launch of digital services, deliver world-class experiences and multiply their value, while supporting their sustainability goals.