Equinix, Inc. (NASDAQ:EQIX) Shares Bought by South Dakota Investment Council

South Dakota Investment Council lifted its position in shares of Equinix, Inc. (NASDAQ:EQIX) by 10.0% in the fourth quarter, Holdings Channel reports. The institutional investor owned 11,296 shares of the financial services provider’s stock after acquiring an additional 1,030 shares during the quarter. South Dakota Investment Council’s holdings in Equinix were worth $9,098,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in Equinix by 0.3% in the 3rd quarter. Vanguard Group Inc. now owns 12,231,182 shares of the financial services provider’s stock valued at $8,883,018,000 after buying an additional 34,926 shares during the period. Principal Financial Group Inc. raised its stake in shares of Equinix by 44.6% in the 3rd 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 acquiring an additional 431,435 shares during the period. Northern Trust Corp lifted its holdings in shares of Equinix by 1.7% in the 3rd quarter. Northern Trust Corp now owns 1,187,990 shares of the financial services provider’s stock worth $862,790,000 after acquiring an additional 20,241 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Equinix by 3.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 974,403 shares of the financial services provider’s stock worth $707,670,000 after purchasing an additional 35,333 shares during the period. 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 valued at $683,134,000 after purchasing an additional 43,143 shares during the last quarter. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Insider Activity

In related news, Chairman Camp Peter Van sold 122 shares of the firm’s stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $831.12, for a total transaction of $101,396.64. Following the transaction, the chairman now owns 7,968 shares of the company’s stock, valued at $6,622,364.16. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Equinix news, EVP Scott Crenshaw sold 460 shares of the stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $832.97, for a total transaction of $383,166.20. Following the transaction, the executive vice president now owns 1,242 shares of the company’s stock, valued at $1,034,548.74. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, 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 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 disclosure for this sale can be found here. Over the last three months, insiders sold 4,585 shares of company stock valued at $3,818,268. Insiders own 0.27% of the company’s stock.

Equinix Stock Performance

Shares of NASDAQ EQIX traded down $4.17 during trading hours on Wednesday, reaching $757.73. The stock had a trading volume of 519,278 shares, compared to its average volume of 561,955. The firm has a market cap 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 fifty-two week low of $672.88 and a fifty-two week high of $914.93. The firm has a 50-day moving average of $830.25 and a 200-day moving average of $803.39. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 1.19.

Equinix Dividend Announcement

The firm also recently disclosed 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 was Tuesday, February 27th. This represents a $17.04 dividend on an annualized basis and a yield of 2.25%. Equinix’s dividend payout ratio is presently 165.28%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Wells Fargo & Company upped their price target on Equinix from $800.00 to $825.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 15th. Royal Bank of Canada increased their target price on Equinix from $855.00 to $950.00 and gave the stock an “outperform” rating in a research note on Thursday, February 29th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $960.00 target price on shares of Equinix in a research report on Wednesday, March 13th. Oppenheimer increased their price target on shares of Equinix from $875.00 to $950.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 20th. Finally, Barclays dropped their price objective on shares of Equinix from $818.00 to $669.00 and set an “equal weight” rating for the company in a report on Wednesday, April 17th. Seven equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $862.50.

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.