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

New York State Common Retirement Fund reduced its position in Equinix, Inc. (NASDAQ:EQIX) by 6.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 137,859 shares of the financial services provider’s stock after selling 9,016 shares during the quarter. New York State Common Retirement Fund’s holdings in Equinix were worth $111,030,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in the company. Valley National Advisers Inc. lifted its holdings in Equinix by 260.0% during the fourth quarter. Valley National Advisers Inc. now owns 36 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 26 shares during the last quarter. Providence Capital Advisors LLC bought a new position in shares of Equinix in the third quarter worth $29,000. Criterion Capital Advisors LLC bought a new stake in shares of Equinix during the 4th quarter valued at $32,000. Operose Advisors LLC purchased a new stake in Equinix during the 3rd quarter worth about $36,000. Finally, Asset Dedication LLC boosted its stake in Equinix by 92.6% in the 3rd quarter. Asset Dedication LLC now owns 52 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 25 shares during the period. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. HSBC cut shares of Equinix from a “buy” rating to a “hold” rating and set a $900.00 price objective for the company. in a research note on Wednesday, March 20th. Wolfe Research raised shares of Equinix from an “underperform” rating to a “peer perform” rating in a report on Tuesday, January 2nd. Truist Financial lifted their price objective on Equinix from $915.00 to $950.00 and gave the company a “buy” rating in a research note on Monday, March 18th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $960.00 price target on shares of Equinix in a report on Wednesday, March 13th. Finally, Wells Fargo & Company upped their price objective on shares of Equinix from $800.00 to $825.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 15th. Seven equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $862.50.

Equinix Trading Up 0.5 %

Shares of NASDAQ EQIX traded up $3.59 during midday trading on Tuesday, hitting $758.33. 253,152 shares of the company traded hands, compared to its average volume of 557,464. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.13 and a current ratio of 1.13. Equinix, Inc. has a 12-month low of $672.88 and a 12-month high of $914.93. The stock has a 50-day moving average price of $831.66 and a 200 day moving average price of $803.12. The firm has a market cap of $71.75 billion, a P/E ratio of 73.20, a P/E/G ratio of 1.94 and a beta of 0.58.

Equinix Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 20th. Stockholders of record on Wednesday, February 28th were given a $4.26 dividend. This represents a $17.04 annualized dividend and a dividend yield of 2.25%. The ex-dividend date of this dividend was Tuesday, February 27th. Equinix’s dividend payout ratio is currently 165.28%.

Insider Activity

In other news, CFO Keith D. Taylor sold 1,164 shares of the company’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $832.98, for a total value of $969,588.72. Following the sale, the chief financial officer now directly owns 23,187 shares of the company’s stock, valued at approximately $19,314,307.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Scott Crenshaw sold 460 shares of the stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $832.97, for a total value of $383,166.20. Following the sale, the executive vice president now directly owns 1,242 shares of the company’s stock, valued at $1,034,548.74. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Keith D. Taylor sold 1,164 shares of the firm’s stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $832.98, for a total value of $969,588.72. Following the transaction, the chief financial officer now owns 23,187 shares of the company’s stock, valued at $19,314,307.26. The disclosure for this sale can be found here. Insiders sold a total of 4,585 shares of company stock worth $3,818,268 in the last quarter. 0.27% of the stock is owned by company 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.