New Jersey Better Educational Savings Trust Makes New Investment in Equinix, Inc. (NASDAQ:EQIX)

New Jersey Better Educational Savings Trust purchased a new position in Equinix, Inc. (NASDAQ:EQIX) in the 4th quarter, Holdings Channel.com reports. The fund purchased 250 shares of the financial services provider’s stock, valued at approximately $201,000.

Several other hedge funds have also added to or reduced their stakes in EQIX. Valley National Advisers Inc. increased its position in shares of Equinix by 260.0% in the fourth quarter. Valley National Advisers Inc. now owns 36 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 26 shares during the period. Providence Capital Advisors LLC purchased a new position in shares of Equinix in the third quarter valued at about $29,000. Criterion Capital Advisors LLC purchased a new position in shares of Equinix in the fourth quarter valued at about $32,000. Operose Advisors LLC purchased a new position in shares of Equinix in the third quarter valued at about $36,000. Finally, Asset Dedication LLC increased its position in shares of Equinix by 92.6% in the third quarter. Asset Dedication LLC now owns 52 shares of the financial services provider’s stock valued at $37,000 after acquiring an additional 25 shares during the period. 94.94% of the stock is owned by institutional investors.

Insider Transactions at Equinix

In other news, Chairman Camp Peter Van sold 122 shares of the company’s stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $831.12, for a total value of $101,396.64. Following the transaction, the chairman now owns 7,968 shares in the company, valued at $6,622,364.16. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, Chairman Camp Peter Van sold 122 shares of the stock in a transaction that occurred 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 transaction, the chairman now owns 7,968 shares in the company, valued at $6,622,364.16. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Brandi Galvin Morandi sold 729 shares of the stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $832.84, for a total transaction of $607,140.36. Following the transaction, the insider now owns 14,002 shares in the company, valued at approximately $11,661,425.68. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 4,585 shares of company stock worth $3,818,268. Corporate insiders own 0.27% of the company’s stock.

Analyst Upgrades and Downgrades

EQIX has been the topic of a number of analyst reports. BMO Capital Markets boosted their price objective on shares of Equinix from $910.00 to $925.00 and gave the company an “outperform” rating in a research report on Thursday, February 15th. Wolfe Research upgraded shares of Equinix from an “underperform” rating to a “peer perform” rating in a research report on Tuesday, January 2nd. Truist Financial boosted their price target on shares of Equinix from $915.00 to $950.00 and gave the company a “buy” rating in a research report on Monday, March 18th. Oppenheimer boosted their price target on shares of Equinix from $875.00 to $950.00 and gave the company an “outperform” rating in a research report on Wednesday, March 20th. Finally, Wells Fargo & Company boosted their price target on shares of Equinix from $800.00 to $825.00 and gave the company an “equal weight” rating in a research report on Thursday, February 15th. Seven research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $862.50.

Equinix Stock Down 2.4 %

NASDAQ:EQIX traded down $18.49 during mid-day trading on Thursday, hitting $738.35. 812,622 shares of the company’s stock were exchanged, compared to its average volume of 568,639. The business has a fifty day moving average price of $828.73 and a 200 day moving average price of $803.06. The company has a market cap of $69.86 billion, a PE ratio of 73.41, a P/E/G ratio of 1.97 and a beta of 0.58. Equinix, Inc. has a one year low of $672.88 and a one year high of $914.93. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.13 and a quick ratio of 1.13.

Equinix Announces Dividend

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

Equinix Company 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.