California State Teachers Retirement System reduced its position in shares of Equinix, Inc. (NASDAQ:EQIX) by 0.5% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 129,147 shares of the financial services provider’s stock after selling 674 shares during the quarter. California State Teachers Retirement System owned 0.17% of Equinix worth $58,532,000 at the end of the most recent quarter.
A number of other large investors have also recently added to or reduced their stakes in EQIX. Nationwide Fund Advisors increased its stake in Equinix by 71.9% during the 3rd quarter. Nationwide Fund Advisors now owns 43,062 shares of the financial services provider’s stock valued at $19,219,000 after purchasing an additional 18,017 shares in the last quarter. Raymond James Financial Services Advisors Inc. increased its stake in Equinix by 6.0% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 15,330 shares of the financial services provider’s stock valued at $6,842,000 after purchasing an additional 870 shares in the last quarter. Candriam Luxembourg S.C.A. increased its stake in Equinix by 13.7% during the 3rd quarter. Candriam Luxembourg S.C.A. now owns 5,565 shares of the financial services provider’s stock valued at $2,484,000 after purchasing an additional 669 shares in the last quarter. FDx Advisors Inc. bought a new stake in Equinix during the 3rd quarter valued at about $447,000. Finally, CIBC Asset Management Inc increased its stake in Equinix by 10.3% during the 3rd quarter. CIBC Asset Management Inc now owns 8,158 shares of the financial services provider’s stock valued at $3,641,000 after purchasing an additional 764 shares in the last quarter. Institutional investors and hedge funds own 96.13% of the company’s stock.
Shares of Equinix, Inc. (NASDAQ:EQIX) opened at $405.42 on Wednesday. The company has a current ratio of 1.81, a quick ratio of 1.81 and a debt-to-equity ratio of 1.45. The stock has a market cap of $31,307.77, a P/E ratio of 135.59, a P/E/G ratio of 1.20 and a beta of 0.56. Equinix, Inc. has a 12-month low of $370.79 and a 12-month high of $495.35.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 21st. Investors of record on Monday, February 26th will be given a dividend of $2.28 per share. This represents a $9.12 annualized dividend and a yield of 2.25%. This is a positive change from Equinix’s previous quarterly dividend of $2.00. The ex-dividend date is Friday, February 23rd. Equinix’s payout ratio is 305.02%.
In related news, CFO Keith D. Taylor sold 1,500 shares of the business’s stock in a transaction that occurred on Thursday, December 14th. The shares were sold at an average price of $457.84, for a total transaction of $686,760.00. Following the completion of the sale, the chief financial officer now directly owns 26,196 shares in the company, valued at $11,993,576.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Michael Earl Campbell sold 200 shares of the business’s stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $462.43, for a total transaction of $92,486.00. Following the sale, the insider now owns 925 shares of the company’s stock, valued at $427,747.75. The disclosure for this sale can be found here. Insiders have sold 36,482 shares of company stock valued at $15,507,697 over the last 90 days. 0.58% of the stock is currently owned by company insiders.
EQIX has been the subject of a number of analyst reports. Credit Suisse Group set a $515.00 price objective on shares of Equinix and gave the company a “buy” rating in a research note on Monday, December 18th. Bank of America reiterated a “buy” rating and issued a $520.00 price target (up from $450.21) on shares of Equinix in a research note on Wednesday, December 13th. Guggenheim set a $515.00 price target on shares of Equinix and gave the stock a “buy” rating in a research note on Thursday, February 15th. UBS Group upgraded shares of Equinix from a “neutral” rating to a “buy” rating and set a $510.00 price target for the company in a research note on Monday, January 29th. Finally, Barclays reiterated a “buy” rating and issued a $517.00 price target on shares of Equinix in a research note on Friday, January 19th. One analyst has rated the stock with a sell rating, three have given a hold rating and twenty have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $499.00.
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Equinix Company Profile
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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