National Pension Service Grows Position in Equinix, Inc. $EQIX

National Pension Service raised its holdings in shares of Equinix, Inc. (NASDAQ:EQIX) by 1.5% during the third quarter, HoldingsChannel reports. The firm owned 298,456 shares of the financial services provider’s stock after purchasing an additional 4,349 shares during the period. National Pension Service’s holdings in Equinix were worth $233,763,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of EQIX. Westside Investment Management Inc. increased its holdings in Equinix by 190.9% during the second quarter. Westside Investment Management Inc. now owns 32 shares of the financial services provider’s stock valued at $25,000 after buying an additional 21 shares during the period. Atlantic Union Bankshares Corp bought a new stake in Equinix during the 2nd quarter valued at $26,000. Bank of Jackson Hole Trust boosted its position in Equinix by 70.0% during the 2nd quarter. Bank of Jackson Hole Trust now owns 34 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 14 shares in the last quarter. Abound Wealth Management increased its holdings in shares of Equinix by 209.1% in the 3rd quarter. Abound Wealth Management now owns 34 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 23 shares during the period. Finally, Clal Insurance Enterprises Holdings Ltd bought a new position in shares of Equinix in the 2nd quarter worth $28,000. Institutional investors own 94.94% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Deutsche Bank Aktiengesellschaft set a $915.00 price objective on Equinix in a research report on Tuesday, January 6th. Zacks Research cut shares of Equinix from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 19th. UBS Group set a $959.00 price objective on shares of Equinix in a research report on Wednesday, January 14th. BMO Capital Markets raised shares of Equinix from a “market perform” rating to an “outperform” rating and set a $900.00 target price for the company in a research report on Wednesday, December 3rd. Finally, Scotiabank lowered their target price on shares of Equinix from $965.00 to $959.00 and set a “sector outperform” rating for the company in a research note on Wednesday, January 14th. Three investment analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $959.64.

Insider Activity at Equinix

In other Equinix news, CFO Keith D. Taylor sold 2,051 shares of the business’s stock in a transaction dated Friday, January 16th. The stock was sold at an average price of $804.17, for a total transaction of $1,649,352.67. Following the sale, the chief financial officer owned 26,373 shares in the company, valued at approximately $21,208,375.41. The trade was a 7.22% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Charles J. Meyers sold 2,094 shares of the firm’s stock in a transaction dated Friday, January 16th. The stock was sold at an average price of $804.14, for a total value of $1,683,869.16. Following the completion of the transaction, the chairman owned 13,253 shares of the company’s stock, valued at approximately $10,657,267.42. The trade was a 13.64% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 19,590 shares of company stock worth $15,366,046 in the last quarter. 0.27% of the stock is owned by insiders.

Equinix Trading Down 0.6%

Shares of Equinix stock opened at $820.93 on Friday. The firm’s 50 day simple moving average is $769.84 and its two-hundred day simple moving average is $784.86. The firm has a market capitalization of $80.61 billion, a price-to-earnings ratio of 75.18, a PEG ratio of 1.29 and a beta of 1.05. Equinix, Inc. has a 12-month low of $701.41 and a 12-month high of $953.41. The company has a current ratio of 1.62, a quick ratio of 1.62 and a debt-to-equity ratio of 1.32.

Equinix (NASDAQ:EQIX) last announced its quarterly earnings data on Wednesday, October 29th. The financial services provider reported $9.83 earnings per share for the quarter, beating analysts’ consensus estimates of $9.27 by $0.56. Equinix had a net margin of 11.82% and a return on equity of 7.70%. The firm had revenue of $2.32 billion for the quarter, compared to analyst estimates of $2.33 billion. During the same period in the previous year, the company earned $9.05 earnings per share. The business’s quarterly revenue was up 5.2% compared to the same quarter last year. Analysts predict that Equinix, Inc. will post 33.1 EPS for the current year.

Equinix Profile

Equinix, Inc is a global provider of digital infrastructure and interconnection services, specializing in carrier-neutral data centers and colocation. The company operates a platform that enables enterprises, cloud and network service providers, and content companies to colocate IT infrastructure, interconnect directly with partners and providers, and access cloud on-ramps and network services in a secure, low-latency environment.

Equinix’s offerings include traditional colocation space and power, cross-connects and meet-me rooms, and a suite of connectivity and on-demand services designed for hybrid multicloud architectures.