Equinix, Inc. (NASDAQ:EQIX) Stake Raised by State of New Jersey Common Pension Fund D
State of New Jersey Common Pension Fund D boosted its stake in Equinix, Inc. (NASDAQ:EQIX) by 16.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 23,400 shares of the financial services provider’s stock after buying an additional 3,300 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Equinix were worth $10,042,000 at the end of the most recent reporting period.
A number of other large investors have also recently bought and sold shares of EQIX. Proficio Capital Partners LLC increased its position in shares of Equinix by 1,033.3% in the first quarter. Proficio Capital Partners LLC now owns 238 shares of the financial services provider’s stock valued at $105,000 after buying an additional 217 shares during the last quarter. Point72 Asia Hong Kong Ltd increased its position in shares of Equinix by 47.4% in the first quarter. Point72 Asia Hong Kong Ltd now owns 252 shares of the financial services provider’s stock valued at $101,000 after buying an additional 81 shares during the last quarter. Advisory Services Network LLC acquired a new position in shares of Equinix during the first quarter valued at approximately $112,000. Guardian Life Insurance Co. of America increased its position in shares of Equinix by 9.9% in the first quarter. Guardian Life Insurance Co. of America now owns 300 shares of the financial services provider’s stock valued at $120,000 after buying an additional 27 shares during the last quarter. Finally, Westside Investment Management Inc. increased its position in shares of Equinix by 31.9% in the first quarter. Westside Investment Management Inc. now owns 413 shares of the financial services provider’s stock valued at $165,000 after buying an additional 100 shares during the last quarter. 95.31% of the stock is owned by institutional investors and hedge funds.
Shares of Equinix, Inc. (NASDAQ EQIX) opened at 447.81 on Thursday. The company has a 50-day moving average price of $437.60 and a 200 day moving average price of $411.92. Equinix, Inc. has a one year low of $314.55 and a one year high of $459.00. The company has a market capitalization of $34.89 billion, a PE ratio of 164.45 and a beta of 0.59.
Equinix (NASDAQ:EQIX) last released its quarterly earnings results on Wednesday, August 2nd. The financial services provider reported $0.58 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $3.41 by $2.83. Equinix had a net margin of 5.18% and a return on equity of 5.51%. The firm had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.03 billion. Equities analysts anticipate that Equinix, Inc. will post $4.03 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 20th. Investors of record on Wednesday, August 23rd will be given a dividend of $2.00 per share. The ex-dividend date is Monday, August 21st. This represents a $8.00 annualized dividend and a dividend yield of 1.79%. Equinix’s dividend payout ratio is presently 293.04%.
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Several brokerages have commented on EQIX. BidaskClub downgraded Equinix from a “strong-buy” rating to a “buy” rating in a research note on Tuesday. Barclays PLC reissued an “equal weight” rating and set a $475.00 target price (up previously from $410.00) on shares of Equinix in a research note on Wednesday. Royal Bank Of Canada boosted their target price on Equinix from $470.00 to $505.00 and gave the stock an “outperform” rating in a research note on Monday. Cowen and Company reissued an “outperform” rating and set a $482.00 target price (up previously from $465.00) on shares of Equinix in a research note on Thursday, August 3rd. Finally, Stifel Nicolaus reissued a “buy” rating and set a $497.00 target price (up previously from $485.00) on shares of Equinix in a research note on Thursday, August 3rd. Five research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. Equinix presently has an average rating of “Buy” and an average target price of $464.78.
In other Equinix news, Director Camp Peter Van sold 4,444 shares of the business’s stock in a transaction on Monday, August 7th. The stock was sold at an average price of $445.81, for a total value of $1,981,179.64. Following the sale, the director now directly owns 8,572 shares of the company’s stock, valued at $3,821,483.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Stephen M. Smith sold 5,348 shares of the business’s stock in a transaction on Thursday, June 15th. The stock was sold at an average price of $432.60, for a total value of $2,313,544.80. Following the completion of the sale, the chief executive officer now directly owns 18,967 shares in the company, valued at $8,205,124.20. The disclosure for this sale can be found here. Insiders sold 22,143 shares of company stock worth $9,703,456 over the last three months. Corporate insiders own 0.58% of the company’s stock.
Equinix, Inc (Equinix) connects businesses with partners and customers worldwide through a global platform of data centers. The Company connects approximately 4000 customers, across the Americas, Europe, Middle East and Africa (EMEA) and Asia-Pacific. Platform Equinix combines international business exchange (IBX) data centers, a global footprint and ecosystems.
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