South Dakota Investment Council Boosts Stake in Equinix, Inc. (NASDAQ:EQIX)

South Dakota Investment Council raised its holdings in shares of Equinix, Inc. (NASDAQ:EQIX) by 10.0% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 11,296 shares of the financial services provider’s stock after purchasing an additional 1,030 shares during the period. South Dakota Investment Council’s holdings in Equinix were worth $9,098,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Vanguard Group Inc. increased its position in shares of Equinix by 0.3% during the third quarter. Vanguard Group Inc. now owns 12,231,182 shares of the financial services provider’s stock valued at $8,883,018,000 after acquiring an additional 34,926 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Equinix by 44.6% during the third quarter. Principal Financial Group Inc. now owns 1,398,418 shares of the financial services provider’s stock valued at $1,015,610,000 after purchasing an additional 431,435 shares in the last quarter. Northern Trust Corp lifted its holdings in shares of Equinix by 1.7% during the third quarter. Northern Trust Corp now owns 1,187,990 shares of the financial services provider’s stock valued at $862,790,000 after purchasing an additional 20,241 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Equinix by 3.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 974,403 shares of the financial services provider’s stock valued at $707,670,000 after buying an additional 35,333 shares during the last quarter. Finally, Morgan Stanley increased its holdings in Equinix by 4.8% in the 3rd quarter. Morgan Stanley now owns 940,617 shares of the financial services provider’s stock worth $683,134,000 after buying an additional 43,143 shares in the last quarter. 94.94% of the stock is owned by institutional investors.

Insider Transactions at Equinix

In related news, Chairman Camp Peter Van sold 122 shares of the business’s stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $831.12, for a total value of $101,396.64. Following the sale, the chairman now owns 7,968 shares in the company, valued at $6,622,364.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Equinix news, Chairman Camp Peter Van sold 122 shares of the business’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $831.12, for a total transaction of $101,396.64. Following the sale, the chairman now directly owns 7,968 shares of the company’s stock, valued at $6,622,364.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Brandi Galvin Morandi sold 729 shares of the company’s stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $832.84, for a total value of $607,140.36. Following the sale, the insider now owns 14,002 shares in the company, valued at $11,661,425.68. The disclosure for this sale can be found here. Insiders have sold 4,585 shares of company stock valued at $3,818,268 in the last ninety days. Corporate insiders own 0.27% of the company’s stock.

Equinix Price Performance

Shares of EQIX stock traded down $4.17 during trading hours on Wednesday, hitting $757.73. The stock had a trading volume of 519,278 shares, compared to its average volume of 561,955. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.13 and a quick ratio of 1.13. The stock has a market capitalization of $71.70 billion, a price-to-earnings ratio of 73.90, a PEG ratio of 1.95 and a beta of 0.58. Equinix, Inc. has a one year low of $672.88 and a one year high of $914.93. The stock’s 50-day moving average price is $830.25 and its two-hundred day moving average price is $803.39.

Equinix Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 20th. Stockholders of record on Wednesday, February 28th were issued a dividend of $4.26 per share. The ex-dividend date of this dividend was Tuesday, February 27th. This represents a $17.04 annualized dividend and a dividend yield of 2.25%. Equinix’s dividend payout ratio (DPR) is 165.28%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Wells Fargo & Company raised their price target on shares of Equinix from $800.00 to $825.00 and gave the company an “equal weight” rating in a report on Thursday, February 15th. Stifel Nicolaus restated a “buy” rating and issued a $960.00 target price on shares of Equinix in a report on Wednesday, March 13th. HSBC lowered shares of Equinix from a “buy” rating to a “hold” rating and set a $900.00 target price for the company. in a research note on Wednesday, March 20th. Oppenheimer raised their price target on Equinix from $875.00 to $950.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 20th. Finally, Royal Bank of Canada upped their price objective on Equinix from $855.00 to $950.00 and gave the company an “outperform” rating in a research report on Thursday, February 29th. Seven research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $862.50.

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.