State of New Jersey Common Pension Fund D Sells 208 Shares of Equinix, Inc. (NASDAQ:EQIX)

State of New Jersey Common Pension Fund D lessened its stake in Equinix, Inc. (NASDAQ:EQIX) by 0.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 82,879 shares of the financial services provider’s stock after selling 208 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Equinix were worth $78,146,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Exchange Traded Concepts LLC purchased a new stake in Equinix during the 3rd quarter valued at $328,000. Creative Planning grew its position in shares of Equinix by 16.7% during the third quarter. Creative Planning now owns 7,754 shares of the financial services provider’s stock valued at $6,883,000 after purchasing an additional 1,111 shares in the last quarter. Global Retirement Partners LLC grew its position in shares of Equinix by 6.7% during the third quarter. Global Retirement Partners LLC now owns 1,370 shares of the financial services provider’s stock valued at $1,216,000 after purchasing an additional 86 shares in the last quarter. Trust Point Inc. grew its position in Equinix by 12.5% in the third quarter. Trust Point Inc. now owns 315 shares of the financial services provider’s stock worth $280,000 after acquiring an additional 35 shares in the last quarter. Finally, Stratos Investment Management LLC purchased a new position in Equinix in the third quarter worth about $214,000. Institutional investors own 94.94% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on EQIX shares. Stifel Nicolaus lifted their price target on shares of Equinix from $995.00 to $1,080.00 and gave the company a “buy” rating in a research note on Wednesday, November 20th. BMO Capital Markets dropped their price objective on shares of Equinix from $1,085.00 to $1,065.00 and set an “outperform” rating on the stock in a report on Thursday. Truist Financial boosted their target price on shares of Equinix from $935.00 to $1,090.00 and gave the company a “buy” rating in a research report on Friday, November 29th. Royal Bank of Canada upped their price objective on shares of Equinix from $936.00 to $1,025.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 11th. Finally, Scotiabank reduced their price target on shares of Equinix from $1,114.00 to $1,033.00 and set a “sector outperform” rating for the company in a research report on Thursday. Three analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have given a strong buy rating to the stock. According to MarketBeat, Equinix presently has an average rating of “Buy” and an average price target of $994.82.

Equinix Price Performance

Shares of EQIX opened at $933.60 on Monday. Equinix, Inc. has a twelve month low of $684.14 and a twelve month high of $994.03. The firm’s fifty day simple moving average is $934.88 and its 200-day simple moving average is $896.94. The firm has a market capitalization of $90.08 billion, a price-to-earnings ratio of 84.18, a PEG ratio of 2.23 and a beta of 0.72. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 1.12.

Equinix (NASDAQ:EQIX) last announced its quarterly earnings results on Wednesday, February 12th. The financial services provider reported $7.92 EPS for the quarter, topping 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%. Equities analysts forecast 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 paid a dividend of $4.69 per share. This is a positive change from Equinix’s previous quarterly dividend of $4.26. This represents a $18.76 annualized dividend and a yield of 2.01%. The ex-dividend date is Wednesday, February 26th. Equinix’s dividend payout ratio (DPR) is currently 153.65%.

Insider Buying and Selling

In other Equinix news, CEO Adaire Fox-Martin sold 2,965 shares of the firm’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $961.62, for a total transaction of $2,851,203.30. Following the transaction, the chief executive officer now directly owns 3,069 shares of the company’s stock, valued at approximately $2,951,211.78. This trade represents a 49.14 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Raouf Abdel sold 1,331 shares of the firm’s 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 transaction, 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 disclosure for this sale can be found here. Insiders have sold 16,701 shares of company stock worth $15,441,464 in the last ninety days. 0.27% of the stock is owned by corporate insiders.

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.