Equinix, Inc. $EQIX Shares Bought by PBU The Pension Fund of Early Childhood & Youth Educators

PBU The Pension Fund of Early Childhood & Youth Educators increased its position in shares of Equinix, Inc. (NASDAQ:EQIX) by 5.8% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 25,930 shares of the financial services provider’s stock after purchasing an additional 1,427 shares during the period. PBU The Pension Fund of Early Childhood & Youth Educators’ holdings in Equinix were worth $26,230,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. BlackRock Inc. bought a new position in Equinix in the second quarter worth $11,930,074,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Equinix by 26,831.6% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,239,122 shares of the financial services provider’s stock worth $1,291,648,000 after buying an additional 1,234,521 shares in the last quarter. Legal & General Group Plc bought a new stake in Equinix in the 2nd quarter valued at $1,181,260,000. Canada Pension Plan Investment Board bought a new stake in Equinix in the 2nd quarter valued at $1,163,662,000. Finally, Deutsche Bank AG bought a new stake in Equinix in the 2nd quarter valued at $1,118,930,000. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Royal Bank Of Canada increased their price objective on shares of Equinix from $1,125.00 to $1,225.00 and gave the company an “outperform” rating in a research note on Wednesday, August 5th. JPMorgan Chase & Co. lifted their target price on shares of Equinix from $1,300.00 to $1,350.00 and gave the company an “overweight” rating in a research report on Thursday, October 29th. Sanford C. Bernstein upped their target price on shares of Equinix from $1,222.00 to $1,270.00 and gave the company an “outperform” rating in a research note on Thursday, July 30th. Citigroup upped their target price on shares of Equinix from $1,260.00 to $1,320.00 and gave the company a “buy” rating in a research note on Thursday, October 29th. Finally, The Goldman Sachs Group increased their price target on shares of Equinix from $1,015.00 to $1,060.00 and gave the stock a “neutral” rating in a research report on Thursday, July 30th. Two research analysts have rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,234.13.

Equinix Price Performance

Shares of EQIX stock opened at $1,072.77 on Friday. The stock’s fifty day simple moving average is $1,018.86 and its 200 day simple moving average is $1,018.62. The company has a debt-to-equity ratio of 1.59, a current ratio of 1.29 and a quick ratio of 1.29. The firm has a market cap of $105.85 billion, a price-to-earnings ratio of 64.43, a P/E/G ratio of 1.50 and a beta of 0.98. Equinix, Inc. has a one year low of $720.62 and a one year high of $1,128.68.

Equinix (NASDAQ:EQIX) last announced its quarterly earnings results on Wednesday, October 28th. The financial services provider reported $4.93 earnings per share for the quarter, beating analysts’ consensus estimates of $4.11 by $0.82. Equinix had a return on equity of 11.49% and a net margin of 16.38%. The firm had revenue of $2.57 billion for the quarter, compared to analysts’ expectations of $2.56 billion. During the same period in the prior year, the business posted $9.83 earnings per share. The business’s revenue was up 11.0% compared to the same quarter last year. On average, analysts expect that Equinix, Inc. will post 39.01 earnings per share for the current fiscal year.

Equinix Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 16th. Stockholders of record on Wednesday, November 18th will be paid a $5.16 dividend. This represents a $20.64 annualized dividend and a dividend yield of 1.9%. The ex-dividend date is Wednesday, November 18th. Equinix’s payout ratio is currently 123.96%.

Insider Activity

In related news, insider Michael Paladin sold 307 shares of Equinix stock in a transaction dated Friday, September 4th. The shares were sold at an average price of $1,035.01, for a total transaction of $317,748.07. Following the completion of the transaction, the insider directly owned 2,450 shares of the company’s stock, valued at $2,535,774.50. This trade represents a 11.14% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Kurt Pletcher sold 198 shares of Equinix stock in a transaction dated Friday, November 6th. The shares were sold at an average price of $1,014.18, for a total transaction of $200,807.64. Following the transaction, the insider directly owned 3,879 shares of the company’s stock, valued at $3,934,004.22. This represents a 4.86% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 968 shares of company stock worth $1,007,885. Corporate insiders own 0.27% of the company’s stock.

Equinix Company Profile

Equinix, Inc. is a global digital infrastructure company that operates data centers where businesses can house their computing and networking equipment. Its colocation services support organizations seeking secure, reliable facilities for their IT systems. The company also provides interconnection services that enable customers to connect with cloud providers, networks, business partners and one another. Its Equinix Fabric platform offers software-defined connectivity, while its xScale facilities are designed to serve large-scale cloud and technology companies.