Teachers Retirement System of The State of Kentucky Trims Position in Equinix, Inc. $EQIX

Key Points

• Teachers Retirement System of Kentucky trimmed its stake in Equinix by 4.9% in Q4, selling 1,242 shares and leaving 24,003 shares valued at $18.39 million.
• Significant insider selling has occurred recently: CEO Adaire Fox‑Martin sold 1,086 shares (~$1.05M) and Chairman Charles J. Meyers sold 2,716 shares (~$2.62M), with insiders selling 6,380 shares (~$6.18M) over the past 90 days.
• Dividend increase despite mixed results: Equinix raised its quarterly dividend to $5.16 (annualized $20.64, yield 1.9%) while reporting Q4 EPS of $8.91 (vs. $9.07 expected) and revenue of $2.42B, up 7% year‑over‑year.

Teachers Retirement System of The State of Kentucky decreased its position in shares of Equinix, Inc. (NASDAQ:EQIX - Free Report) by 4.9% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 24,003 shares of the financial services provider's stock after selling 1,242 shares during the quarter. Teachers Retirement System of The State of Kentucky's holdings in Equinix were worth $18,390,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of EQIX. Quent Capital LLC raised its holdings in Equinix by 4.2% during the third quarter. Quent Capital LLC now owns 298 shares of the financial services provider's stock valued at $233,000 after acquiring an additional 12 shares during the period. Paragon Private Wealth Management LLC boosted its stake in shares of Equinix by 2.7% in the third quarter. Paragon Private Wealth Management LLC now owns 495 shares of the financial services provider's stock worth $388,000 after acquiring an additional 13 shares during the period. Cornerstone Planning Group LLC boosted its stake in shares of Equinix by 40.6% in the third quarter. Cornerstone Planning Group LLC now owns 45 shares of the financial services provider's stock worth $37,000 after acquiring an additional 13 shares during the period. Moss Adams Wealth Advisors LLC grew its position in shares of Equinix by 4.1% during the third quarter. Moss Adams Wealth Advisors LLC now owns 355 shares of the financial services provider's stock worth $278,000 after purchasing an additional 14 shares in the last quarter. Finally, United Asset Strategies Inc. raised its stake in Equinix by 2.1% during the 3rd quarter. United Asset Strategies Inc. now owns 717 shares of the financial services provider's stock valued at $562,000 after purchasing an additional 15 shares during the period. Institutional investors own 94.94% of the company's stock.

Insider Buying and Selling at Equinix

In other news, CEO Adaire Fox-Martin sold 1,086 shares of the company's stock in a transaction dated Thursday, March 12th. The shares were sold at an average price of $966.20, for a total transaction of $1,049,293.20. Following the sale, the chief executive officer directly owned 19,574 shares in the company, valued at approximately $18,912,398.80. This represents a 5.26% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Charles J. Meyers sold 2,716 shares of the stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $965.15, for a total transaction of $2,621,347.40. Following the completion of the transaction, the chairman directly owned 12,594 shares of the company's stock, valued at approximately $12,155,099.10. The trade was a 17.74% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 6,380 shares of company stock valued at $6,179,022 over the last ninety days. Corporate insiders own 0.27% of the company's stock.

Equinix Stock Performance

NASDAQ EQIX opened at $1,108.74 on Monday. The stock has a market capitalization of $109.34 billion, a PE ratio of 80.64, a P/E/G ratio of 2.82 and a beta of 1.01. The business has a 50 day simple moving average of $993.19 and a two-hundred day simple moving average of $863.91. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.32 and a quick ratio of 1.32. Equinix, Inc. has a 1-year low of $710.52 and a 1-year high of $1,128.68.

Equinix (NASDAQ:EQIX - Get Free Report) last issued its quarterly earnings data on Wednesday, February 11th. The financial services provider reported $8.91 earnings per share (EPS) for the quarter, missing the consensus estimate of $9.07 by ($0.16). The firm had revenue of $2.42 billion for the quarter, compared to analysts' expectations of $2.46 billion. Equinix had a return on equity of 9.60% and a net margin of 14.65%.The firm's revenue was up 7.0% on a year-over-year basis. During the same period last year, the company earned $7.92 earnings per share. On average, research analysts predict that Equinix, Inc. will post 37.72 EPS for the current fiscal year.

Equinix Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 18th. Investors of record on Wednesday, February 25th were paid a dividend of $5.16 per share. The ex-dividend date of this dividend was Wednesday, February 25th. This is a positive change from Equinix's previous quarterly dividend of $4.69. This represents a $20.64 dividend on an annualized basis and a yield of 1.9%. Equinix's payout ratio is currently 150.11%.

Analyst Upgrades and Downgrades

EQIX has been the subject of several recent analyst reports. Scotiabank downgraded Equinix from a "sector outperform" rating to a "sector perform" rating and upped their price target for the stock from $997.00 to $1,050.00 in a research note on Tuesday, April 7th. Wall Street Zen cut shares of Equinix from a "hold" rating to a "sell" rating in a research report on Saturday, April 11th. Stifel Nicolaus set a $1,075.00 target price on shares of Equinix in a report on Thursday, February 12th. Morgan Stanley upped their target price on shares of Equinix from $1,075.00 to $1,250.00 and gave the stock an "overweight" rating in a research report on Monday, April 13th. Finally, Cantor Fitzgerald started coverage on shares of Equinix in a research note on Thursday, April 9th. They set an "overweight" rating and a $1,173.00 target price for the company. Five investment analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and six have assigned a Hold rating to the company's stock. According to MarketBeat, Equinix presently has an average rating of "Moderate Buy" and an average price target of $1,056.35.

About Equinix

Equinix, Inc is a global provider of digital infrastructure and interconnection services, specializing in carrier-neutral data centers and colocation. The company operates a platform that enables enterprises, cloud and network service providers, and content companies to colocate IT infrastructure, interconnect directly with partners and providers, and access cloud on-ramps and network services in a secure, low-latency environment.

Equinix's offerings include traditional colocation space and power, cross-connects and meet-me rooms, and a suite of connectivity and on-demand services designed for hybrid multicloud architectures.

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