New Jersey Better Educational Savings Trust Invests $201,000 in Equinix, Inc. (NASDAQ:EQIX)

New Jersey Better Educational Savings Trust bought a new position in shares of Equinix, Inc. (NASDAQ:EQIX) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 250 shares of the financial services provider’s stock, valued at approximately $201,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Balentine LLC grew its holdings in shares of Equinix by 0.8% during the third quarter. Balentine LLC now owns 1,707 shares of the financial services provider’s stock valued at $1,240,000 after buying an additional 14 shares in the last quarter. Sage Mountain Advisors LLC grew its holdings in shares of Equinix by 3.9% during the fourth quarter. Sage Mountain Advisors LLC now owns 377 shares of the financial services provider’s stock valued at $304,000 after buying an additional 14 shares in the last quarter. First Trust Direct Indexing L.P. grew its holdings in shares of Equinix by 0.5% during the third quarter. First Trust Direct Indexing L.P. now owns 2,783 shares of the financial services provider’s stock valued at $2,021,000 after buying an additional 15 shares in the last quarter. Legacy Advisors LLC grew its holdings in shares of Equinix by 1.6% during the third quarter. Legacy Advisors LLC now owns 935 shares of the financial services provider’s stock valued at $679,000 after buying an additional 15 shares in the last quarter. Finally, Arbor Capital Management Inc. ADV grew its holdings in shares of Equinix by 0.8% during the third quarter. Arbor Capital Management Inc. ADV now owns 1,964 shares of the financial services provider’s stock valued at $1,396,000 after buying an additional 16 shares in the last quarter. 94.94% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Equinix news, Chairman Camp Peter Van sold 122 shares of the firm’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $831.12, for a total value of $101,396.64. Following the completion of the sale, the chairman now owns 7,968 shares in the company, valued at approximately $6,622,364.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Scott Crenshaw sold 460 shares of the stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $832.97, for a total value of $383,166.20. Following the completion of the transaction, the executive vice president now directly owns 1,242 shares of the company’s stock, valued at approximately $1,034,548.74. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Chairman Camp Peter Van sold 122 shares of the stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $831.12, for a total value of $101,396.64. Following the completion of the transaction, 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. In the last quarter, insiders sold 4,585 shares of company stock worth $3,818,268. 0.27% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Stifel Nicolaus reiterated a “buy” rating and set a $960.00 price target on shares of Equinix in a report on Wednesday, March 13th. Royal Bank of Canada boosted their target price on Equinix from $855.00 to $950.00 and gave the company an “outperform” rating in a research note on Thursday, February 29th. Barclays lowered their target price on Equinix from $818.00 to $669.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 17th. Wells Fargo & Company boosted their target price on Equinix from $800.00 to $825.00 and gave the company an “equal weight” rating in a research note on Thursday, February 15th. Finally, Wolfe Research upgraded Equinix from an “underperform” rating to a “peer perform” rating in a research note on Tuesday, January 2nd. Seven analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $862.50.

Equinix Stock Performance

NASDAQ:EQIX traded down $18.49 during mid-day trading on Thursday, hitting $738.35. 812,622 shares of the company’s stock traded hands, compared to its average volume of 568,639. The firm has a 50 day moving average of $828.73 and a two-hundred day moving average of $803.06. Equinix, Inc. has a 12 month low of $672.88 and a 12 month high of $914.93. The firm has a market capitalization of $69.86 billion, a price-to-earnings ratio of 73.41, a price-to-earnings-growth ratio of 1.97 and a beta of 0.58. 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 Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 20th. Investors of record on Wednesday, February 28th were paid a dividend of $4.26 per share. The ex-dividend date of this dividend was Tuesday, February 27th. This represents a $17.04 annualized dividend and a yield of 2.31%. Equinix’s payout ratio is 165.28%.

Equinix Profile

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.