Equinix, Inc. (NASDAQ:EQIX) Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC reduced its stake in Equinix, Inc. (NASDAQ:EQIX - Free Report) by 9.1% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 11,692 shares of the financial services provider's stock after selling 1,177 shares during the quarter. Mutual of America Capital Management LLC's holdings in Equinix were worth $10,378,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. WESPAC Advisors SoCal LLC purchased a new position in shares of Equinix during the 3rd quarter valued at about $861,000. Natixis Advisors LLC grew its position in shares of Equinix by 4.0% in the 3rd quarter. Natixis Advisors LLC now owns 47,968 shares of the financial services provider's stock worth $42,578,000 after buying an additional 1,839 shares during the last quarter. Mizuho Securities USA LLC grew its stake in Equinix by 202.4% in the third quarter. Mizuho Securities USA LLC now owns 22,124 shares of the financial services provider's stock worth $19,638,000 after purchasing an additional 14,809 shares during the period. Nicollet Investment Management Inc. grew its stake in Equinix by 1.1% in the third quarter. Nicollet Investment Management Inc. now owns 3,768 shares of the financial services provider's stock worth $3,345,000 after purchasing an additional 41 shares during the period. Finally, Empowered Funds LLC boosted its holdings in Equinix by 8.9% in the third quarter. Empowered Funds LLC now owns 2,100 shares of the financial services provider's stock worth $1,864,000 after acquiring an additional 171 shares in the last quarter. 94.94% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on EQIX shares. Cfra reaffirmed a "hold" rating on shares of Equinix in a report on Tuesday, September 24th. Truist Financial increased their price target on Equinix from $915.00 to $935.00 and gave the company a "buy" rating in a research note on Wednesday, August 21st. Scotiabank raised their price objective on Equinix from $954.00 to $985.00 and gave the company a "sector outperform" rating in a research note on Thursday, October 31st. JPMorgan Chase & Co. raised their price target on Equinix from $950.00 to $975.00 and gave the stock an "overweight" rating in a research note on Tuesday, October 1st. Finally, Evercore ISI raised their price objective on Equinix from $945.00 to $975.00 and gave the stock an "outperform" rating in a report on Wednesday, October 23rd. Five investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Equinix has a consensus rating of "Moderate Buy" and a consensus target price of $945.38.

Equinix Price Performance

Shares of Equinix stock traded up $12.11 on Monday, hitting $909.48. The company's stock had a trading volume of 480,189 shares, compared to its average volume of 526,413. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.16 and a current ratio of 1.16. Equinix, Inc. has a 1 year low of $684.14 and a 1 year high of $943.02. The firm has a fifty day moving average price of $885.56 and a 200-day moving average price of $818.53. The company has a market capitalization of $87.76 billion, a price-to-earnings ratio of 80.92, a price-to-earnings-growth ratio of 2.25 and a beta of 0.71.

Equinix Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Wednesday, November 13th will be paid a dividend of $4.26 per share. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $17.04 annualized dividend and a yield of 1.87%. Equinix's dividend payout ratio (DPR) is currently 153.65%.

Insiders Place Their Bets

In related news, EVP Scott Crenshaw sold 1,107 shares of the company's stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $815.60, for a total value of $902,869.20. Following the transaction, the executive vice president now directly owns 4 shares in the company, valued at approximately $3,262.40. This represents a 99.64 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Chairman Charles J. Meyers sold 6,234 shares of the company's stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $823.97, for a total value of $5,136,628.98. Following the transaction, the chairman now owns 7,680 shares in the company, valued at $6,328,089.60. This trade represents a 44.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 13,754 shares of company stock worth $11,666,756. Corporate 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.