Kentucky Retirement Systems Sells 89 Shares of Equinix, Inc. (NASDAQ:EQIX)

Kentucky Retirement Systems cut its holdings in shares of Equinix, Inc. (NASDAQ:EQIX) by 1.3% during the 4th quarter, HoldingsChannel.com reports. The fund owned 6,525 shares of the financial services provider’s stock after selling 89 shares during the period. Kentucky Retirement Systems’ holdings in Equinix were worth $6,152,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Kestra Investment Management LLC bought a new position in shares of Equinix during the 4th quarter valued at about $31,000. GHP Investment Advisors Inc. raised its holdings in Equinix by 50.0% during the 3rd quarter. GHP Investment Advisors Inc. now owns 39 shares of the financial services provider’s stock worth $35,000 after buying an additional 13 shares during the period. Fortitude Family Office LLC raised its holdings in Equinix by 50.0% during the 3rd quarter. Fortitude Family Office LLC now owns 39 shares of the financial services provider’s stock worth $35,000 after buying an additional 13 shares during the period. Sierra Ocean LLC bought a new position in Equinix in the fourth quarter valued at approximately $42,000. Finally, Dunhill Financial LLC boosted its holdings in shares of Equinix by 108.7% in the third quarter. Dunhill Financial LLC now owns 48 shares of the financial services provider’s stock valued at $43,000 after buying an additional 25 shares during the period. 94.94% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Equinix

In other Equinix news, CEO Adaire Fox-Martin sold 2,965 shares of the company’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $961.62, for a total value of $2,851,203.30. Following the transaction, the chief executive officer now directly owns 3,069 shares of the company’s stock, valued at $2,951,211.78. This represents a 49.14 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Kurt Pletcher sold 222 shares of the stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $962.20, for a total value of $213,608.40. Following the transaction, the insider now owns 1,015 shares in the company, valued at $976,633. The trade was a 17.95 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 23,057 shares of company stock worth $21,345,223 over the last ninety days. Insiders own 0.27% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Citizens Jmp upgraded shares of Equinix to a “strong-buy” rating in a report on Monday, January 27th. Stifel Nicolaus lifted their price target on Equinix from $995.00 to $1,080.00 and gave the company a “buy” rating in a research note on Wednesday, November 20th. TD Cowen upped their price objective on Equinix from $865.00 to $984.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Oppenheimer lifted their target price on Equinix from $950.00 to $975.00 and gave the company an “outperform” rating in a research report on Thursday, February 13th. Finally, Wells Fargo & Company reduced their price target on Equinix from $1,075.00 to $1,065.00 and set an “overweight” rating for the company in a research report on Thursday, February 13th. Three investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $994.82.

Equinix Stock Up 0.2 %

Shares of EQIX stock opened at $940.59 on Friday. Equinix, Inc. has a 52-week low of $684.14 and a 52-week high of $994.03. The stock has a market cap of $91.55 billion, a price-to-earnings ratio of 110.01, a PEG ratio of 2.28 and a beta of 0.72. The firm’s 50-day moving average is $932.17 and its 200-day moving average is $899.99. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.63 and a current ratio of 1.63.

Equinix (NASDAQ:EQIX) last released its quarterly earnings data on Wednesday, February 12th. The financial services provider reported $7.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.75 by $5.17. Equinix had a return on equity of 6.31% and a net margin of 9.32%. Sell-side analysts predict that Equinix, Inc. will post 33.1 EPS for the current year.

Equinix Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Wednesday, February 26th will be given a dividend of $4.69 per share. This represents a $18.76 dividend on an annualized basis and a yield of 1.99%. This is a boost from Equinix’s previous quarterly dividend of $4.26. The ex-dividend date is Wednesday, February 26th. Equinix’s payout ratio is 199.30%.

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.