State of Alaska Department of Revenue Grows Position in Equinix, Inc. (NASDAQ:EQIX)

State of Alaska Department of Revenue raised its holdings in shares of Equinix, Inc. (NASDAQ:EQIX) by 1.8% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 58,824 shares of the financial services provider’s stock after buying an additional 1,065 shares during the quarter. Equinix comprises about 0.5% of State of Alaska Department of Revenue’s portfolio, making the stock its 26th biggest holding. State of Alaska Department of Revenue’s holdings in Equinix were worth $47,960,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Pinney & Scofield Inc. acquired a new position in shares of Equinix during the 4th quarter valued at about $28,000. Kestra Investment Management LLC acquired a new position in shares of Equinix during the 4th quarter valued at about $31,000. Pacific Center for Financial Services lifted its position in Equinix by 65.2% in the fourth quarter. Pacific Center for Financial Services now owns 38 shares of the financial services provider’s stock valued at $36,000 after buying an additional 15 shares during the last quarter. Whipplewood Advisors LLC lifted its position in Equinix by 127.8% in the first quarter. Whipplewood Advisors LLC now owns 41 shares of the financial services provider’s stock valued at $33,000 after buying an additional 23 shares during the last quarter. Finally, J.Safra Asset Management Corp acquired a new position in Equinix in the fourth quarter valued at about $39,000. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Insider Buying and Selling at Equinix

In related news, insider Kurt Pletcher sold 127 shares of the stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $877.70, for a total transaction of $111,467.90. Following the completion of the sale, the insider now directly owns 1,842 shares of the company’s stock, valued at $1,616,723.40. This trade represents a 6.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Christopher B. Paisley sold 100 shares of the stock in a transaction on Friday, May 16th. The stock was sold at an average price of $869.41, for a total value of $86,941.00. Following the sale, the director now directly owns 17,569 shares of the company’s stock, valued at approximately $15,274,664.29. This represents a 0.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 3,176 shares of company stock worth $2,808,008 over the last three months. Insiders own 0.27% of the company’s stock.

Equinix Stock Down 0.2%

EQIX stock opened at $886.76 on Wednesday. The company’s 50 day moving average price is $856.61 and its 200 day moving average price is $887.14. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.65 and a current ratio of 1.65. Equinix, Inc. has a fifty-two week low of $701.41 and a fifty-two week high of $994.03. The firm has a market capitalization of $86.74 billion, a price-to-earnings ratio of 92.18, a PEG ratio of 1.16 and a beta of 0.97.

Equinix (NASDAQ:EQIX) last released its earnings results on Wednesday, April 30th. The financial services provider reported $9.67 earnings per share for the quarter, topping analysts’ consensus estimates of $9.01 by $0.66. The firm had revenue of $2.23 billion for the quarter, compared to analyst estimates of $2.23 billion. Equinix had a net margin of 10.48% and a return on equity of 6.96%. The business’s quarterly revenue was up 4.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $8.86 earnings per share. On average, equities research analysts anticipate that Equinix, Inc. will post 33.1 EPS for the current fiscal year.

Equinix Announces Dividend

The business also recently declared 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 of this dividend is Wednesday, May 21st. This represents a $18.76 annualized dividend and a yield of 2.12%. Equinix’s dividend payout ratio is currently 195.01%.

Analysts Set New Price Targets

EQIX has been the topic of a number of recent analyst reports. Barclays upped their target price on shares of Equinix from $834.00 to $837.00 and gave the company an “equal weight” rating in a research report on Tuesday, May 27th. TD Securities upped their target price on shares of Equinix from $978.00 to $1,018.00 and gave the company a “buy” rating in a research report on Thursday, May 1st. New Street Research raised shares of Equinix to a “strong-buy” rating in a research report on Monday, April 28th. BNP Paribas raised shares of Equinix to a “strong-buy” rating in a research report on Thursday, May 1st. Finally, Scotiabank reduced their price target on shares of Equinix from $1,040.00 to $1,030.00 and set a “sector outperform” rating on the stock in a research report on Tuesday, April 22nd. Three analysts have rated the stock with a hold rating, nineteen have given a buy rating and six have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Equinix has an average rating of “Buy” and a consensus price target of $1,004.80.

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.