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

New York State Teachers Retirement System trimmed its position in shares of Equinix, Inc. (NASDAQ:EQIX) by 4.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 78,883 shares of the financial services provider’s stock after selling 3,922 shares during the quarter. New York State Teachers Retirement System owned approximately 0.08% of Equinix worth $70,019,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also made changes to their positions in the company. CNB Bank lifted its holdings in shares of Equinix by 172.7% during the 1st quarter. CNB Bank now owns 30 shares of the financial services provider’s stock valued at $25,000 after buying an additional 19 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Equinix during the 2nd quarter valued at about $30,000. LRI Investments LLC acquired a new stake in shares of Equinix during the 1st quarter valued at about $31,000. GHP Investment Advisors Inc. lifted its holdings in Equinix by 50.0% in the 3rd quarter. GHP Investment Advisors Inc. now owns 39 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 13 shares during the last quarter. Finally, Fortitude Family Office LLC lifted its holdings in Equinix by 50.0% in the 3rd quarter. Fortitude Family Office LLC now owns 39 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 13 shares during the last quarter. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Equinix Stock Performance

EQIX opened at $910.22 on Thursday. The stock has a market cap of $86.39 billion, a PE ratio of 91.30, a P/E/G ratio of 2.11 and a beta of 0.71. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 1.26. Equinix, Inc. has a 1 year low of $684.14 and a 1 year high of $943.02. The stock’s 50 day simple moving average is $866.57 and its 200-day simple moving average is $804.08.

Equinix (NASDAQ:EQIX) last released its quarterly earnings data on Wednesday, August 7th. The financial services provider reported $3.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $7.88 by ($4.72). The firm had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.16 billion. Equinix had a net margin of 12.24% and a return on equity of 8.46%. The business’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $8.04 earnings per share. Sell-side analysts forecast that Equinix, Inc. will post 31.01 EPS for the current year.

Equinix Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Shareholders of record on Wednesday, August 21st were given a $4.26 dividend. This represents a $17.04 dividend on an annualized basis and a yield of 1.87%. The ex-dividend date was Wednesday, August 21st. Equinix’s dividend payout ratio (DPR) is 170.91%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Wells Fargo & Company boosted their target price on Equinix from $875.00 to $975.00 and gave the stock an “overweight” rating in a report on Thursday, October 17th. HSBC upgraded Equinix from a “hold” rating to a “buy” rating and boosted their target price for the stock from $865.00 to $1,000.00 in a report on Friday, October 4th. The Goldman Sachs Group boosted their target price on Equinix from $870.00 to $980.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Barclays boosted their target price on Equinix from $671.00 to $810.00 and gave the stock an “equal weight” rating in a report on Monday. Finally, Cfra restated a “hold” rating on shares of Equinix in a report on Tuesday, September 24th. Five investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $927.67.

Insider Buying and Selling at Equinix

In other Equinix news, insider Brandi Galvin Morandi sold 864 shares of the company’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $850.00, for a total value of $734,400.00. Following the sale, the insider now directly owns 9,094 shares in the company, valued at $7,729,900. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Equinix news, insider Meredith Williamson sold 576 shares of the business’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $824.19, for a total value of $474,733.44. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Brandi Galvin Morandi sold 864 shares of the business’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $850.00, for a total value of $734,400.00. Following the completion of the transaction, the insider now directly owns 9,094 shares in the company, valued at approximately $7,729,900. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 10,906 shares of company stock worth $9,071,764 over the last three months. Company insiders own 0.27% of the company’s stock.

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.