National Pension Service Increases Stock Position in Equinix, Inc. $EQIX

National Pension Service grew its position in shares of Equinix, Inc. (NASDAQ:EQIX) by 1.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 298,456 shares of the financial services provider’s stock after purchasing an additional 4,349 shares during the period. National Pension Service owned approximately 0.30% of Equinix worth $233,763,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in EQIX. Westside Investment Management Inc. raised its holdings in shares of Equinix by 190.9% during the 2nd quarter. Westside Investment Management Inc. now owns 32 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 21 shares in the last quarter. Atlantic Union Bankshares Corp purchased a new position in shares of Equinix in the second quarter valued at $26,000. Bank of Jackson Hole Trust increased its position in Equinix by 70.0% in the second quarter. Bank of Jackson Hole Trust now owns 34 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 14 shares during the last quarter. Abound Wealth Management raised its stake in Equinix by 209.1% during the third quarter. Abound Wealth Management now owns 34 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 23 shares in the last quarter. Finally, Clal Insurance Enterprises Holdings Ltd bought a new position in Equinix during the second quarter valued at $28,000. 94.94% of the stock is currently owned by hedge funds and other institutional investors.

Equinix Price Performance

EQIX opened at $820.93 on Friday. The business has a fifty day moving average of $769.84 and a 200 day moving average of $784.86. The stock has a market cap of $80.61 billion, a P/E ratio of 75.18, a PEG ratio of 1.29 and a beta of 1.05. The company has a quick ratio of 1.62, a current ratio of 1.62 and a debt-to-equity ratio of 1.32. Equinix, Inc. has a 52-week low of $701.41 and a 52-week high of $953.41.

Equinix (NASDAQ:EQIX) last released its earnings results on Wednesday, October 29th. The financial services provider reported $9.83 earnings per share for the quarter, topping analysts’ consensus estimates of $9.27 by $0.56. The business had revenue of $2.32 billion for the quarter, compared to analyst estimates of $2.33 billion. Equinix had a return on equity of 7.70% and a net margin of 11.82%.The business’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. As a group, sell-side analysts anticipate that Equinix, Inc. will post 33.1 EPS for the current year.

Analyst Ratings Changes

A number of research firms have recently weighed in on EQIX. TD Cowen restated a “buy” rating on shares of Equinix in a report on Thursday, October 30th. The Goldman Sachs Group cut Equinix from a “buy” rating to a “neutral” rating and set a $795.00 price objective on the stock. in a research note on Thursday, December 18th. Wall Street Zen downgraded Equinix from a “hold” rating to a “sell” rating in a research report on Saturday, January 10th. Scotiabank dropped their target price on Equinix from $965.00 to $959.00 and set a “sector outperform” rating for the company in a report on Wednesday, January 14th. Finally, Deutsche Bank Aktiengesellschaft set a $915.00 price target on Equinix in a report on Tuesday, January 6th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $959.64.

Insider Activity at Equinix

In other Equinix news, insider Jonathan Lin sold 888 shares of the firm’s stock in a transaction on Friday, January 16th. The stock was sold at an average price of $801.78, for a total transaction of $711,980.64. Following the transaction, the insider directly owned 9,390 shares in the company, valued at $7,528,714.20. This trade represents a 8.64% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Michael Shane Paladin sold 327 shares of Equinix stock in a transaction on Friday, January 16th. The shares were sold at an average price of $804.36, for a total value of $263,025.72. Following the sale, the insider directly owned 952 shares of the company’s stock, valued at approximately $765,750.72. This trade represents a 25.57% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 19,590 shares of company stock worth $15,366,046 over the last ninety days. 0.27% of the stock is currently owned by company insiders.

About Equinix

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.