Equinix, Inc. (NASDAQ:EQIX) Shares Sold by Kentucky Retirement Systems

Kentucky Retirement Systems trimmed its holdings in Equinix, Inc. (NASDAQ:EQIX) by 5.1% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 7,130 shares of the financial services provider’s stock after selling 382 shares during the period. Kentucky Retirement Systems’ holdings in Equinix were worth $5,885,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. CVA Family Office LLC acquired a new position in shares of Equinix in the 4th quarter valued at about $60,000. Procyon Advisors LLC lifted its stake in shares of Equinix by 12.3% in the 4th quarter. Procyon Advisors LLC now owns 568 shares of the financial services provider’s stock valued at $457,000 after purchasing an additional 62 shares in the last quarter. Steel Grove Capital Advisors LLC purchased a new stake in shares of Equinix during the 4th quarter valued at about $226,000. Ritholtz Wealth Management raised its holdings in shares of Equinix by 13.9% during the 4th quarter. Ritholtz Wealth Management now owns 589 shares of the financial services provider’s stock valued at $475,000 after buying an additional 72 shares during the period. Finally, Meadow Creek Wealth Advisors LLC purchased a new stake in shares of Equinix during the 4th quarter valued at about $406,000. 94.94% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently commented on EQIX. The Goldman Sachs Group began coverage on Equinix in a report on Monday, July 1st. They set a “buy” rating and a $870.00 target price on the stock. Wells Fargo & Company upgraded Equinix from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $825.00 to $875.00 in a report on Tuesday, July 23rd. Royal Bank of Canada dropped their price objective on Equinix from $950.00 to $922.00 and set an “outperform” rating on the stock in a report on Tuesday, May 28th. Barclays lifted their price objective on Equinix from $669.00 to $671.00 and gave the stock an “equal weight” rating in a report on Thursday, May 30th. Finally, Mizuho started coverage on Equinix in a research report on Thursday, July 11th. They issued an “outperform” rating and a $873.00 target price for the company. Six equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $875.50.

Insider Transactions at Equinix

In other news, insider Brandi Galvin Morandi sold 2,070 shares of the business’s stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $800.50, for a total value of $1,657,035.00. Following the sale, the insider now owns 12,758 shares of the company’s stock, valued at approximately $10,212,779. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Brandi Galvin Morandi sold 2,070 shares of the business’s stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $800.50, for a total transaction of $1,657,035.00. Following the sale, the insider now directly owns 12,758 shares of the company’s stock, valued at $10,212,779. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Christopher B. Paisley sold 100 shares of the business’s stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $812.98, for a total value of $81,298.00. Following the sale, the director now directly owns 17,641 shares in the company, valued at $14,341,780.18. The disclosure for this sale can be found here. Company insiders own 0.27% of the company’s stock.

Equinix Stock Performance

EQIX stock traded up $3.12 during trading on Friday, reaching $772.43. 541,016 shares of the company’s stock were exchanged, compared to its average volume of 366,784. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 1.19. Equinix, Inc. has a 1-year low of $677.80 and a 1-year high of $914.93. The company’s fifty day moving average price is $770.49 and its 200-day moving average price is $797.06. The firm has a market cap of $73.31 billion, a PE ratio of 77.48, a P/E/G ratio of 2.67 and a beta of 0.68.

Equinix Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 19th. Stockholders of record on Wednesday, May 22nd were paid a $4.26 dividend. This represents a $17.04 dividend on an annualized basis and a dividend yield of 2.21%. The ex-dividend date of this dividend was Tuesday, May 21st. Equinix’s dividend payout ratio is presently 170.91%.

Equinix 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.