New York Life Investment Management LLC Decreases Stock Position in Equinix, Inc. (NASDAQ:EQIX)

New York Life Investment Management LLC lowered its stake in shares of Equinix, Inc. (NASDAQ:EQIX - Free Report) by 33.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 14,307 shares of the financial services provider's stock after selling 7,345 shares during the quarter. New York Life Investment Management LLC's holdings in Equinix were worth $13,490,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Heritage Investors Management Corp increased its stake in Equinix by 0.4% in the 4th quarter. Heritage Investors Management Corp now owns 28,210 shares of the financial services provider's stock valued at $26,599,000 after buying an additional 121 shares during the period. Oregon Public Employees Retirement Fund increased its stake in shares of Equinix by 1.5% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 8,274 shares of the financial services provider's stock worth $7,801,000 after acquiring an additional 119 shares during the period. Checchi Capital Advisers LLC raised its holdings in Equinix by 1.7% during the fourth quarter. Checchi Capital Advisers LLC now owns 1,224 shares of the financial services provider's stock worth $1,154,000 after purchasing an additional 20 shares in the last quarter. National Pension Service lifted its position in Equinix by 1.3% in the fourth quarter. National Pension Service now owns 243,149 shares of the financial services provider's stock valued at $229,263,000 after purchasing an additional 3,164 shares during the period. Finally, Lake Street Advisors Group LLC lifted its position in Equinix by 1.6% in the fourth quarter. Lake Street Advisors Group LLC now owns 756 shares of the financial services provider's stock valued at $713,000 after purchasing an additional 12 shares during the period. Institutional investors and hedge funds own 94.94% of the company's stock.

Insider Buying and Selling at Equinix

In related news, EVP Raouf Abdel sold 1,331 shares of the business's stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $903.71, for a total value of $1,202,838.01. Following the completion of the sale, the executive vice president now directly owns 6,579 shares in the company, valued at approximately $5,945,508.09. The trade was a 16.83 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Kurt Pletcher sold 341 shares of the stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $903.72, for a total transaction of $308,168.52. Following the transaction, the insider now directly owns 1,430 shares in the company, valued at approximately $1,292,319.60. This represents a 19.25 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 22,241 shares of company stock worth $20,531,762 in the last 90 days. 0.27% of the stock is owned by company insiders.

Equinix Trading Up 0.7 %

Shares of EQIX traded up $5.96 on Monday, hitting $910.58. 543,781 shares of the stock traded hands, compared to its average volume of 540,526. Equinix, Inc. has a 1 year low of $684.14 and a 1 year high of $994.03. The stock's 50 day moving average is $928.20 and its two-hundred day moving average is $905.68. The firm has a market capitalization of $88.63 billion, a P/E ratio of 106.50, a P/E/G ratio of 1.78 and a beta of 0.72. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 1.19.

Equinix (NASDAQ:EQIX - Get Free Report) last issued its quarterly earnings results 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 return on equity of 6.31% and a net margin of 9.32%. As a group, sell-side analysts predict that Equinix, Inc. will post 33.1 earnings per share for the current year.

Equinix Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Wednesday, February 26th will be paid a $4.69 dividend. This represents a $18.76 dividend on an annualized basis and a yield of 2.06%. This is a positive change from Equinix's previous quarterly dividend of $4.26. The ex-dividend date is Wednesday, February 26th. Equinix's dividend payout ratio (DPR) is presently 219.42%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Stifel Nicolaus increased their target price on Equinix from $995.00 to $1,080.00 and gave the stock a "buy" rating in a research note on Wednesday, November 20th. Royal Bank of Canada raised their target price on Equinix from $936.00 to $1,025.00 and gave the company an "outperform" rating in a report on Wednesday, December 11th. Barclays upped their price target on shares of Equinix from $810.00 to $822.00 and gave the stock an "equal weight" rating in a research note on Monday, November 18th. Truist Financial raised their price objective on shares of Equinix from $935.00 to $1,090.00 and gave the company a "buy" rating in a research note on Friday, November 29th. Finally, BMO Capital Markets dropped their target price on shares of Equinix from $1,085.00 to $1,065.00 and set an "outperform" rating for the company in a report on Thursday, February 13th. Three investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $995.24.

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.