Oregon Public Employees Retirement Fund Grows Stake in Equinix, Inc. $EQIX

Oregon Public Employees Retirement Fund boosted its position in shares of Equinix, Inc. (NASDAQ:EQIX) by 33.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,156 shares of the financial services provider’s stock after buying an additional 2,782 shares during the period. Oregon Public Employees Retirement Fund’s holdings in Equinix were worth $8,738,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. boosted its stake in Equinix by 1.7% during the 2nd quarter. Vanguard Group Inc. now owns 13,129,041 shares of the financial services provider’s stock worth $10,443,758,000 after purchasing an additional 222,221 shares during the last quarter. Valeo Financial Advisors LLC boosted its position in Equinix by 298,148.6% during the second quarter. Valeo Financial Advisors LLC now owns 8,157,100 shares of the financial services provider’s stock worth $6,488,728,000 after acquiring an additional 8,154,365 shares during the last quarter. State Street Corp grew its stake in Equinix by 3.7% during the 2nd quarter. State Street Corp now owns 6,249,780 shares of the financial services provider’s stock valued at $4,971,512,000 after acquiring an additional 220,981 shares in the last quarter. Norges Bank acquired a new stake in Equinix in the 2nd quarter valued at about $892,431,000. Finally, Canada Pension Plan Investment Board lifted its stake in Equinix by 3.7% in the 2nd quarter. Canada Pension Plan Investment Board now owns 1,102,423 shares of the financial services provider’s stock worth $876,944,000 after purchasing an additional 38,936 shares in the last quarter. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Equinix Stock Up 2.4%

Shares of EQIX opened at $800.35 on Friday. The company’s 50-day moving average price is $769.03 and its 200 day moving average price is $783.12. 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. The firm has a market cap of $78.59 billion, a P/E ratio of 73.29, a price-to-earnings-growth ratio of 1.22 and a beta of 1.05.

Equinix (NASDAQ:EQIX) last announced its earnings results on Wednesday, October 29th. The financial services provider reported $9.83 earnings per share for the quarter, topping the consensus estimate of $9.27 by $0.56. The company had revenue of $2.32 billion during the quarter, compared to analyst estimates of $2.33 billion. Equinix had a net margin of 11.82% and a return on equity of 7.70%. Equinix’s revenue was up 5.2% compared to the same quarter last year. During the same quarter last year, the firm posted $9.05 earnings per share. Equinix has set its FY 2025 guidance at 37.950-38.77 EPS. On average, sell-side analysts forecast that Equinix, Inc. will post 33.1 earnings per share for the current year.

Equinix Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 17th. Shareholders of record on Wednesday, November 19th were given a $4.69 dividend. The ex-dividend date of this dividend was Wednesday, November 19th. This represents a $18.76 dividend on an annualized basis and a yield of 2.3%. Equinix’s payout ratio is presently 171.79%.

Analysts Set New Price Targets

A number of brokerages recently commented on EQIX. BMO Capital Markets upgraded Equinix from a “market perform” rating to an “outperform” rating and set a $900.00 price objective on the stock in a research report on Wednesday, December 3rd. Daiwa Capital Markets set a $917.00 price target on Equinix and gave the stock an “outperform” rating in a report on Wednesday, October 22nd. Deutsche Bank Aktiengesellschaft set a $915.00 price objective on shares of Equinix in a report on Tuesday. Zacks Research downgraded shares of Equinix from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 19th. Finally, Morgan Stanley initiated coverage on shares of Equinix in a research note on Thursday, October 16th. They issued an “overweight” rating and a $950.00 price target for the company. Four research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $952.05.

Insider Activity at Equinix

In other news, CEO Adaire Fox-Martin sold 2,894 shares of the firm’s stock in a transaction on Tuesday, December 2nd. The stock was sold at an average price of $731.09, for a total transaction of $2,115,774.46. Following the completion of the transaction, the chief executive officer directly owned 12,366 shares in the company, valued at $9,040,658.94. This trade represents a 18.96% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Kurt Pletcher sold 290 shares of the business’s stock in a transaction on Tuesday, December 2nd. The shares were sold at an average price of $731.19, for a total value of $212,045.10. Following the completion of the sale, the insider owned 2,433 shares in the company, valued at $1,778,985.27. This represents a 10.65% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 8,704 shares of company stock valued at $6,617,748 over the last ninety days. 0.27% of the stock is owned by insiders.

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.