New York State Common Retirement Fund Decreases Holdings in Equinix, Inc. (NASDAQ:EQIX)

New York State Common Retirement Fund decreased its position in Equinix, Inc. (NASDAQ:EQIX) by 0.2% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 141,630 shares of the financial services provider’s stock after selling 287 shares during the quarter. New York State Common Retirement Fund’s holdings in Equinix were worth $133,542,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Creative Planning boosted its stake in shares of Equinix by 16.7% in the 3rd 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. Allspring Global Investments Holdings LLC lifted its stake in Equinix by 12.5% in the third quarter. Allspring Global Investments Holdings LLC now owns 46,559 shares of the financial services provider’s stock worth $41,327,000 after purchasing an additional 5,189 shares during the last quarter. Whittier Trust Co. of Nevada Inc. boosted its position in Equinix by 8.6% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 756 shares of the financial services provider’s stock valued at $671,000 after buying an additional 60 shares during the period. Kessler Investment Group LLC boosted its position in Equinix by 15.7% during the third quarter. Kessler Investment Group LLC now owns 6,862 shares of the financial services provider’s stock valued at $6,091,000 after buying an additional 931 shares during the period. Finally, Sequoia Financial Advisors LLC grew its stake in shares of Equinix by 21.2% during the third quarter. Sequoia Financial Advisors LLC now owns 2,025 shares of the financial services provider’s stock valued at $1,798,000 after buying an additional 354 shares during the last quarter. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Stifel Nicolaus boosted their target price on Equinix from $995.00 to $1,080.00 and gave the company a “buy” rating in a research note on Wednesday, November 20th. Barclays boosted their price objective on Equinix from $810.00 to $822.00 and gave the company an “equal weight” rating in a research report on Monday, November 18th. Moffett Nathanson upgraded shares of Equinix from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 5th. Truist Financial boosted their price objective 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. Finally, Scotiabank cut their target price on Equinix from $1,114.00 to $1,033.00 and set a “sector outperform” rating on the stock in a research note on Thursday, February 13th. Three investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $994.82.

Insider Transactions at Equinix

In other news, CEO Adaire Fox-Martin sold 2,965 shares of the stock in a transaction that occurred 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 sale, the chief executive officer now owns 3,069 shares in the company, valued at $2,951,211.78. This represents a 49.14 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Keith D. Taylor sold 3,184 shares of the business’s stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $909.82, for a total transaction of $2,896,866.88. Following the completion of the transaction, the chief financial officer now owns 22,076 shares of the company’s stock, valued at approximately $20,085,186.32. The trade was a 12.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 16,701 shares of company stock valued at $15,441,464 in the last quarter. 0.27% of the stock is owned by insiders.

Equinix Stock Down 0.3 %

NASDAQ:EQIX opened at $931.04 on Wednesday. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.16 and a quick ratio of 1.16. The firm’s 50-day moving average price is $933.56 and its 200-day moving average price is $899.43. The company has a market capitalization of $90.62 billion, a PE ratio of 83.95, a P/E/G ratio of 2.23 and a beta of 0.72. Equinix, Inc. has a 1-year low of $684.14 and a 1-year high of $994.03.

Equinix (NASDAQ:EQIX) last announced its quarterly earnings data 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 predict 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. Stockholders of record on Wednesday, February 26th will be issued a dividend of $4.69 per share. The ex-dividend date is Wednesday, February 26th. This is an increase from Equinix’s previous quarterly dividend of $4.26. This represents a $18.76 annualized dividend and a dividend yield of 2.01%. Equinix’s dividend payout ratio (DPR) is presently 219.42%.

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.