Louisiana State Employees Retirement System Makes New Investment in Equinix, Inc. (NASDAQ:EQIX)

Louisiana State Employees Retirement System purchased a new stake in shares of Equinix, Inc. (NASDAQ:EQIX) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 5,700 shares of the financial services provider’s stock, valued at approximately $4,591,000.

A number of other hedge funds also recently bought and sold shares of the company. Simplicity Solutions LLC boosted its holdings in Equinix by 6.7% during the fourth quarter. Simplicity Solutions LLC now owns 3,437 shares of the financial services provider’s stock valued at $2,768,000 after acquiring an additional 217 shares during the period. Graypoint LLC lifted its stake in Equinix by 4.5% during the fourth quarter. Graypoint LLC now owns 491 shares of the financial services provider’s stock worth $395,000 after purchasing an additional 21 shares during the period. Perigon Wealth Management LLC lifted its stake in Equinix by 7.2% during the fourth quarter. Perigon Wealth Management LLC now owns 892 shares of the financial services provider’s stock worth $719,000 after purchasing an additional 60 shares during the period. Sapient Capital LLC bought a new position in Equinix during the fourth quarter worth about $206,000. Finally, Cerity Partners LLC lifted its stake in Equinix by 63.0% during the fourth quarter. Cerity Partners LLC now owns 3,242 shares of the financial services provider’s stock worth $2,611,000 after purchasing an additional 1,253 shares during the period. 94.94% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

EQIX has been the subject of a number of analyst reports. Morgan Stanley cut their price target on shares of Equinix from $767.00 to $762.00 and set an “equal weight” rating for the company in a research note on Thursday, March 28th. Truist Financial raised their price objective on shares of Equinix from $915.00 to $950.00 and gave the stock a “buy” rating in a report on Monday, March 18th. Royal Bank of Canada raised their price objective on shares of Equinix from $855.00 to $950.00 and gave the stock an “outperform” rating in a report on Thursday, February 29th. 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. Finally, Oppenheimer raised their price objective on shares of Equinix from $875.00 to $950.00 and gave the company an “outperform” rating in a research note on Wednesday, March 20th. Seven analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Equinix presently has a consensus rating of “Moderate Buy” and a consensus price target of $868.72.

Insider Buying and Selling at Equinix

In other Equinix news, insider Brandi Galvin Morandi sold 729 shares of Equinix stock in a transaction 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 directly owns 14,002 shares in the company, valued at approximately $11,661,425.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Michael Earl Campbell sold 2,199 shares of the business’s stock in a transaction dated Wednesday, January 17th. The shares were sold at an average price of $799.92, for a total transaction of $1,759,024.08. Following the transaction, the insider now directly owns 14,067 shares in the company, valued at approximately $11,252,474.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Brandi Galvin Morandi sold 729 shares of the business’s stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $832.84, for a total transaction of $607,140.36. Following the transaction, 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. In the last three months, insiders have sold 18,282 shares of company stock worth $14,788,771. Insiders own 0.32% of the company’s stock.

Equinix Stock Down 1.3 %

EQIX stock traded down $9.77 during midday trading on Friday, hitting $764.05. The company’s stock had a trading volume of 498,341 shares, compared to its average volume of 811,680. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.13 and a quick ratio of 1.13. Equinix, Inc. has a twelve month low of $672.88 and a twelve month high of $914.93. The company’s fifty day moving average price is $844.04 and its 200 day moving average price is $801.29. The stock has a market capitalization of $72.29 billion, a P/E ratio of 74.11, a PEG ratio of 1.82 and a beta of 0.58.

Equinix Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 20th. Shareholders of record on Wednesday, February 28th were paid a $4.26 dividend. The ex-dividend date of this dividend was Tuesday, February 27th. This represents a $17.04 annualized dividend and a yield of 2.23%. Equinix’s payout ratio is currently 165.28%.

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.