Kentucky Retirement Systems Trims Stock Holdings in Equinix, Inc. (NASDAQ:EQIX)

Kentucky Retirement Systems lessened its holdings in Equinix, Inc. (NASDAQ:EQIX) by 7.5% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 6,614 shares of the financial services provider’s stock after selling 538 shares during the period. Kentucky Retirement Systems’ holdings in Equinix were worth $5,871,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of EQIX. Pathway Financial Advisers LLC grew its holdings in shares of Equinix by 89,348.4% in the third quarter. Pathway Financial Advisers LLC now owns 398,940 shares of the financial services provider’s stock worth $354,111,000 after purchasing an additional 398,494 shares during the last quarter. Swedbank AB purchased a new stake in Equinix in the 1st quarter valued at about $294,526,000. Principal Financial Group Inc. increased its position in shares of Equinix by 14.5% during the second quarter. Principal Financial Group Inc. now owns 1,888,191 shares of the financial services provider’s stock worth $1,428,606,000 after acquiring an additional 238,883 shares during the period. Quadrature Capital Ltd bought a new stake in shares of Equinix during the first quarter valued at approximately $145,308,000. Finally, D. E. Shaw & Co. Inc. boosted its holdings in shares of Equinix by 104.6% in the second quarter. D. E. Shaw & Co. Inc. now owns 314,741 shares of the financial services provider’s stock valued at $238,133,000 after purchasing an additional 160,906 shares during the period. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on EQIX shares. Evercore ISI raised their price objective on Equinix from $945.00 to $975.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. Scotiabank raised their price target on Equinix from $954.00 to $985.00 and gave the company a “sector outperform” rating in a research note on Thursday, October 31st. Barclays upped their price objective on shares of Equinix from $671.00 to $810.00 and gave the stock an “equal weight” rating in a research note on Monday, October 28th. BMO Capital Markets raised their target price on shares of Equinix from $975.00 to $1,020.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. Finally, TD Cowen upped their price target on shares of Equinix from $865.00 to $984.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Five analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $944.63.

Equinix Price Performance

Shares of NASDAQ EQIX opened at $897.37 on Friday. The company has a market cap of $86.59 billion, a PE ratio of 80.92, a P/E/G ratio of 2.26 and a beta of 0.71. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.16 and a current ratio of 1.16. The business has a 50-day simple moving average of $885.56 and a two-hundred day simple moving average of $817.67. Equinix, Inc. has a fifty-two week low of $684.14 and a fifty-two week high of $943.02.

Equinix Dividend Announcement

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

Insiders Place Their Bets

In other news, EVP Raouf Abdel sold 1,022 shares of Equinix stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $923.56, for a total transaction of $943,878.32. Following the completion of the transaction, the executive vice president now directly owns 4,893 shares of the company’s stock, valued at $4,518,979.08. The trade was a 17.28 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Brandi Galvin Morandi sold 864 shares of Equinix stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $850.00, for a total transaction of $734,400.00. Following the completion of the transaction, the insider now directly owns 9,094 shares of the company’s stock, valued at $7,729,900. The trade was a 8.68 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 13,654 shares of company stock valued at $11,577,656. 0.27% of the stock is owned by company insiders.

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.