Utah Retirement Systems Acquires 300 Shares of Equinix, Inc. (NASDAQ:EQIX)

Utah Retirement Systems grew its holdings in Equinix, Inc. (NASDAQ:EQIX - Free Report) by 1.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 15,964 shares of the financial services provider's stock after purchasing an additional 300 shares during the period. Utah Retirement Systems' holdings in Equinix were worth $15,052,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Kestra Investment Management LLC bought a new position in Equinix in the fourth quarter valued at about $31,000. J.Safra Asset Management Corp bought a new stake in shares of Equinix during the 4th quarter valued at approximately $39,000. Sierra Ocean LLC acquired a new position in Equinix during the 4th quarter worth approximately $42,000. Thompson Investment Management Inc. acquired a new position in Equinix during the 4th quarter worth approximately $47,000. Finally, Key Financial Inc lifted its stake in Equinix by 30.4% in the 4th quarter. Key Financial Inc now owns 60 shares of the financial services provider's stock valued at $57,000 after purchasing an additional 14 shares during the last quarter. Institutional investors and hedge funds own 94.94% of the company's stock.

Equinix Trading Up 1.6 %

Shares of NASDAQ:EQIX traded up $13.88 during mid-day trading on Friday, hitting $875.85. The company had a trading volume of 443,317 shares, compared to its average volume of 543,538. The firm has a fifty day moving average price of $828.81 and a 200 day moving average price of $894.55. The company has a market capitalization of $85.67 billion, a PE ratio of 102.44, a price-to-earnings-growth ratio of 1.78 and a beta of 0.95. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.63 and a quick ratio of 1.63. Equinix, Inc. has a one year low of $684.14 and a one year high of $994.03.

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 for the quarter, beating the consensus estimate of $9.01 by $0.66. The firm had revenue of $2.23 billion during the quarter, compared to the consensus estimate of $2.23 billion. Equinix had a net margin of 9.32% and a return on equity of 6.31%. The business's revenue was up 4.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $8.86 earnings per share. As a group, research analysts forecast that Equinix, Inc. will post 33.1 EPS for the current year.

Equinix Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Wednesday, May 21st will be paid a $4.69 dividend. The ex-dividend date is Wednesday, May 21st. This represents a $18.76 dividend on an annualized basis and a yield of 2.14%. Equinix's dividend payout ratio (DPR) is presently 195.01%.

Insider Activity

In other Equinix news, Director Christopher B. Paisley sold 125 shares of the business's stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $912.21, for a total transaction of $114,026.25. Following the completion of the sale, the director now directly owns 17,669 shares of the company's stock, valued at approximately $16,117,838.49. The trade was a 0.70 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Chairman Charles J. Meyers sold 3,562 shares of the firm's stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $929.04, for a total value of $3,309,240.48. Following the completion of the transaction, the chairman now owns 15,513 shares in the company, valued at $14,412,197.52. This represents a 18.67 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 7,040 shares of company stock worth $6,547,068 over the last quarter. 0.27% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on EQIX shares. Citigroup lowered their price target on shares of Equinix from $1,020.00 to $970.00 and set a "buy" rating for the company in a report on Thursday, April 17th. Wolfe Research upgraded Equinix from a "peer perform" rating to an "outperform" rating and set a $978.00 target price for the company in a research report on Thursday, March 27th. Truist Financial reduced their price target on Equinix from $1,028.00 to $990.00 and set a "buy" rating on the stock in a report on Monday, March 10th. JMP Securities reiterated a "market outperform" rating and issued a $1,200.00 price objective on shares of Equinix in a report on Thursday. Finally, Barclays boosted their target price on shares of Equinix from $822.00 to $834.00 and gave the stock an "equal weight" rating in a report on Thursday, March 20th. Two analysts have rated the stock with a hold rating, eighteen have given a buy rating and five have given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $1,004.05.

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.