PGGM Investments Raises Holdings in Equinix, Inc. (NASDAQ:EQIX)

PGGM Investments lifted its position in Equinix, Inc. (NASDAQ:EQIX - Free Report) by 4.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 265,852 shares of the financial services provider's stock after acquiring an additional 11,300 shares during the quarter. Equinix accounts for approximately 3.3% of PGGM Investments' holdings, making the stock its 3rd largest position. PGGM Investments owned 0.28% of Equinix worth $214,115,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Valley National Advisers Inc. grew its position in shares of Equinix by 260.0% in the 4th quarter. Valley National Advisers Inc. now owns 36 shares of the financial services provider's stock worth $28,000 after acquiring an additional 26 shares in the last quarter. Providence Capital Advisors LLC acquired a new position in Equinix during the 3rd quarter valued at approximately $29,000. Criterion Capital Advisors LLC acquired a new position in Equinix during the 4th quarter valued at approximately $32,000. Operose Advisors LLC acquired a new position in Equinix during the 3rd quarter valued at approximately $36,000. Finally, Asset Dedication LLC boosted its position in Equinix by 92.6% during the 3rd quarter. Asset Dedication LLC now owns 52 shares of the financial services provider's stock valued at $37,000 after purchasing an additional 25 shares during the period. Institutional investors and hedge funds own 94.94% of the company's stock.

Insider Transactions at Equinix

In other news, Chairman Camp Peter Van sold 122 shares of Equinix stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $831.12, for a total transaction of $101,396.64. Following the transaction, the chairman now owns 7,968 shares in the company, valued at $6,622,364.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, EVP Scott Crenshaw sold 460 shares of Equinix stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $832.97, for a total transaction of $383,166.20. Following the transaction, the executive vice president now owns 1,242 shares in the company, valued at $1,034,548.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Camp Peter Van sold 122 shares of Equinix stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $831.12, for a total value of $101,396.64. Following the transaction, the chairman now owns 7,968 shares in the company, valued at approximately $6,622,364.16. The disclosure for this sale can be found here. Insiders have sold 4,585 shares of company stock valued at $3,818,268 over the last three months. Company insiders own 0.27% of the company's stock.

Equinix Trading Down 0.9 %

Shares of Equinix stock traded down $6.74 on Friday, reaching $731.61. 779,483 shares of the company were exchanged, compared to its average volume of 563,003. The stock has a fifty day moving average price of $823.50 and a 200-day moving average price of $803.06. The firm has a market capitalization of $69.22 billion, a price-to-earnings ratio of 70.96, a price-to-earnings-growth ratio of 1.90 and a beta of 0.58. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 1.19. Equinix, Inc. has a fifty-two week low of $672.88 and a fifty-two week high of $914.93.

Equinix Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 20th. Stockholders of record on Wednesday, February 28th were given a dividend of $4.26 per share. This represents a $17.04 dividend on an annualized basis and a dividend yield of 2.33%. The ex-dividend date was Tuesday, February 27th. Equinix's dividend payout ratio (DPR) is presently 165.28%.

Analysts Set New Price Targets

A number of research firms recently issued reports on EQIX. BMO Capital Markets boosted their price objective on Equinix from $910.00 to $925.00 and gave the company an "outperform" rating in a research report on Thursday, February 15th. Morgan Stanley cut their target price on Equinix from $767.00 to $762.00 and set an "equal weight" rating on the stock in a research note on Thursday, March 28th. Stifel Nicolaus reaffirmed a "buy" rating and set a $960.00 target price on shares of Equinix in a research note on Wednesday, March 13th. Barclays cut their target price on Equinix from $818.00 to $669.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 17th. Finally, Wells Fargo & Company lifted their target price on Equinix from $800.00 to $825.00 and gave the company an "equal weight" rating in a research note on Thursday, February 15th. Seven research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $862.50.

About Equinix

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.