Equinix, Inc. (NASDAQ:EQIX) Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System reduced its position in shares of Equinix, Inc. (NASDAQ:EQIX) by 2.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 76,654 shares of the financial services provider’s stock after selling 2,229 shares during the period. New York State Teachers Retirement System’s holdings in Equinix were worth $72,276,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. GHP Investment Advisors Inc. boosted its position in shares of Equinix by 50.0% in the third quarter. GHP Investment Advisors Inc. now owns 39 shares of the financial services provider’s stock worth $35,000 after acquiring an additional 13 shares during the last quarter. Fortitude Family Office LLC boosted its position in shares of Equinix by 50.0% in the third quarter. Fortitude Family Office LLC now owns 39 shares of the financial services provider’s stock worth $35,000 after acquiring an additional 13 shares during the last quarter. Dunhill Financial LLC boosted its position in shares of Equinix by 108.7% in the third quarter. Dunhill Financial LLC now owns 48 shares of the financial services provider’s stock worth $43,000 after acquiring an additional 25 shares during the last quarter. Thompson Investment Management Inc. acquired a new stake in shares of Equinix in the fourth quarter worth approximately $47,000. Finally, Friedenthal Financial acquired a new stake in shares of Equinix in the fourth quarter worth approximately $58,000. 94.94% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Citizens Jmp upgraded shares of Equinix to a “strong-buy” rating in a research note on Monday, January 27th. Evercore ISI boosted their price objective on shares of Equinix from $945.00 to $975.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 23rd. BMO Capital Markets decreased their price objective on shares of Equinix from $1,085.00 to $1,065.00 and set an “outperform” rating for the company in a research note on Thursday. Royal Bank of Canada boosted their price objective on shares of Equinix from $936.00 to $1,025.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 11th. Finally, TD Cowen boosted their price objective on shares of Equinix from $865.00 to $984.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Three equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $994.82.

Insider Activity at Equinix

In other Equinix news, Director Christopher B. Paisley sold 100 shares of the stock in a transaction on Monday, November 18th. The shares were sold at an average price of $891.00, for a total transaction of $89,100.00. Following the sale, the director now directly owns 17,794 shares of the company’s stock, valued at approximately $15,854,454. This represents a 0.56 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Raouf Abdel sold 1,331 shares of the stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $903.71, for a total transaction of $1,202,838.01. Following the sale, the executive vice president now directly owns 6,579 shares in the company, valued at $5,945,508.09. This trade represents a 16.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 16,801 shares of company stock valued at $15,530,564 over the last ninety days. Corporate insiders own 0.27% of the company’s stock.

Equinix Trading Down 1.3 %

EQIX opened at $923.00 on Friday. The stock has a market capitalization of $89.06 billion, a PE ratio of 83.23, a P/E/G ratio of 2.23 and a beta of 0.72. The firm’s fifty day moving average price is $936.92 and its 200 day moving average price is $894.76. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.16 and a quick ratio of 1.16. Equinix, Inc. has a 12-month low of $684.14 and a 12-month high of $994.03.

Equinix (NASDAQ:EQIX) last posted its quarterly earnings results on Wednesday, February 12th. The financial services provider reported $7.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.75 by $5.17. Equinix had a net margin of 12.29% and a return on equity of 8.34%. As a group, research analysts expect that Equinix, Inc. will post 31.09 EPS for the current fiscal year.

Equinix Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, February 26th will be issued a $4.69 dividend. The ex-dividend date of this dividend is Wednesday, February 26th. This is a boost from Equinix’s previous quarterly dividend of $4.26. This represents a $18.76 annualized dividend and a yield of 2.03%. Equinix’s dividend payout ratio is currently 199.30%.

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.