New York State Common Retirement Fund Sells 287 Shares of Equinix, Inc. (NASDAQ:EQIX)

New York State Common Retirement Fund cut its stake in Equinix, Inc. (NASDAQ:EQIX) by 0.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 141,630 shares of the financial services provider’s stock after selling 287 shares during the quarter. New York State Common Retirement Fund owned 0.15% of Equinix worth $133,542,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Equinix by 302.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,082,455 shares of the financial services provider’s stock worth $960,820,000 after acquiring an additional 813,666 shares during the last quarter. Pathway Financial Advisers LLC lifted its position in shares of Equinix by 89,348.4% during the third quarter. Pathway Financial Advisers LLC now owns 398,940 shares of the financial services provider’s stock valued at $354,111,000 after purchasing an additional 398,494 shares in the last quarter. Adelante Capital Management LLC boosted its holdings in Equinix by 202.3% during the third quarter. Adelante Capital Management LLC now owns 514,224 shares of the financial services provider’s stock worth $456,441,000 after purchasing an additional 344,114 shares during the last quarter. JPMorgan Chase & Co. grew its position in Equinix by 17.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,338,597 shares of the financial services provider’s stock worth $1,188,180,000 after purchasing an additional 203,656 shares in the last quarter. Finally, abrdn plc increased its stake in Equinix by 49.2% in the 4th quarter. abrdn plc now owns 464,840 shares of the financial services provider’s stock valued at $437,563,000 after buying an additional 153,215 shares during the last quarter. Institutional investors own 94.94% of the company’s stock.

Insider Buying and Selling

In other Equinix news, EVP Raouf Abdel sold 1,331 shares of Equinix stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $903.71, for a total transaction of $1,202,838.01. Following the completion of the sale, the executive vice president now directly owns 6,579 shares in the company, valued at $5,945,508.09. The trade was a 16.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Keith D. Taylor sold 1,500 shares of the stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $971.18, for a total transaction of $1,456,770.00. Following the completion of the transaction, the chief financial officer now directly owns 18,966 shares in the company, valued at $18,419,399.88. The trade was a 7.33 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 16,701 shares of company stock worth $15,441,464 over the last ninety days. 0.27% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on EQIX shares. Royal Bank of Canada boosted their target price on Equinix from $936.00 to $1,025.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 11th. Moffett Nathanson upgraded Equinix from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 5th. BMO Capital Markets lowered their target price on Equinix from $1,085.00 to $1,065.00 and set an “outperform” rating on the stock in a research note on Thursday, February 13th. Oppenheimer boosted their price target on shares of Equinix from $950.00 to $975.00 and gave the stock an “outperform” rating in a report on Thursday, February 13th. Finally, Truist Financial raised their price objective on shares of Equinix from $935.00 to $1,090.00 and gave the stock a “buy” rating in a report on Friday, November 29th. Three research analysts have rated the stock with a hold rating, fifteen have given a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat.com, Equinix presently has an average rating of “Buy” and a consensus price target of $994.82.

Equinix Trading Down 0.3 %

Shares of EQIX opened at $931.04 on Wednesday. Equinix, Inc. has a twelve month low of $684.14 and a twelve month high of $994.03. The stock has a market cap of $90.62 billion, a PE ratio of 83.95, a P/E/G ratio of 2.23 and a beta of 0.72. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 1.12. The business’s 50-day moving average price is $933.56 and its 200-day moving average price is $899.43.

Equinix (NASDAQ:EQIX) last posted its earnings results on Wednesday, February 12th. The financial services provider reported $7.92 earnings per share for the quarter, topping analysts’ consensus estimates of $2.75 by $5.17. Equinix had a net margin of 12.29% and a return on equity of 8.34%. On average, equities analysts forecast that Equinix, Inc. will post 31.09 EPS for the current fiscal year.

Equinix Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, February 26th will be paid a dividend of $4.69 per share. This is a positive change from Equinix’s previous quarterly dividend of $4.26. The ex-dividend date of this dividend is Wednesday, February 26th. This represents a $18.76 annualized dividend and a yield of 2.01%. Equinix’s dividend payout ratio (DPR) is currently 219.42%.

About Equinix

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.