Kentucky Retirement Systems Insurance Trust Fund Decreases Stock Holdings in Equinix, Inc. (NASDAQ:EQIX)

Kentucky Retirement Systems Insurance Trust Fund lessened its stake in Equinix, Inc. (NASDAQ:EQIX) by 8.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,811 shares of the financial services provider’s stock after selling 250 shares during the period. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Equinix were worth $2,495,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. BDF Gestion purchased a new position in Equinix in the 2nd quarter worth $2,659,000. Van ECK Associates Corp boosted its position in Equinix by 9.2% in the third quarter. Van ECK Associates Corp now owns 20,309 shares of the financial services provider’s stock valued at $18,099,000 after buying an additional 1,716 shares during the last quarter. Bessemer Group Inc. increased its holdings in Equinix by 159.4% in the 1st quarter. Bessemer Group Inc. now owns 2,246 shares of the financial services provider’s stock worth $1,854,000 after buying an additional 1,380 shares during the period. E. Ohman J or Asset Management AB raised its position in Equinix by 3.0% during the 3rd quarter. E. Ohman J or Asset Management AB now owns 37,420 shares of the financial services provider’s stock worth $33,215,000 after buying an additional 1,103 shares during the last quarter. Finally, Duff & Phelps Investment Management Co. lifted its stake in Equinix by 25.9% during the 2nd quarter. Duff & Phelps Investment Management Co. now owns 369,437 shares of the financial services provider’s stock valued at $279,516,000 after acquiring an additional 75,888 shares during the period. 94.94% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on EQIX shares. The Goldman Sachs Group boosted their target price on shares of Equinix from $870.00 to $980.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Barclays upped their target price on Equinix from $671.00 to $810.00 and gave the stock an “equal weight” rating in a research note on Monday, October 28th. TD Cowen raised their target price on Equinix from $865.00 to $984.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Deutsche Bank Aktiengesellschaft boosted their price target on Equinix from $880.00 to $910.00 and gave the company a “buy” rating in a report on Tuesday, August 13th. Finally, Cfra reaffirmed a “hold” rating on shares of Equinix in a research note on Tuesday, September 24th. Five analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Equinix currently has an average rating of “Moderate Buy” and a consensus price target of $944.63.

Equinix Trading Down 0.1 %

Shares of EQIX stock opened at $897.37 on Friday. Equinix, Inc. has a fifty-two week low of $684.14 and a fifty-two week high of $943.02. The firm has a market capitalization of $86.59 billion, a P/E ratio of 80.92, a PEG ratio of 2.26 and a beta of 0.71. The stock’s fifty day moving average is $885.56 and its two-hundred day moving average is $817.67. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.16 and a current ratio of 1.16.

Equinix Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Wednesday, November 13th will be given a dividend of $4.26 per share. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $17.04 dividend on an annualized basis and a yield of 1.90%. Equinix’s payout ratio is presently 153.65%.

Insider Buying and Selling at Equinix

In other Equinix news, Chairman Charles J. Meyers sold 6,234 shares of the firm’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $823.97, for a total value of $5,136,628.98. Following the completion of the sale, the chairman now directly owns 7,680 shares of the company’s stock, valued at $6,328,089.60. This trade represents a 44.80 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Raouf Abdel sold 1,022 shares of Equinix stock in a transaction on Friday, November 8th. The stock was sold at an average price of $923.56, for a total value of $943,878.32. Following the transaction, the executive vice president now owns 4,893 shares in the company, valued at approximately $4,518,979.08. This represents a 17.28 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 13,654 shares of company stock worth $11,577,656. Insiders own 0.27% of the company’s stock.

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.