New York State Common Retirement Fund Has $133.54 Million Stock Position in Equinix, Inc. (NASDAQ:EQIX)

New York State Common Retirement Fund lessened its holdings in Equinix, Inc. (NASDAQ:EQIX - Free Report) by 0.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 141,630 shares of the financial services provider's stock after selling 287 shares during the quarter. New York State Common Retirement Fund owned approximately 0.15% of Equinix worth $133,542,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the business. Kestra Investment Management LLC acquired a new stake in shares of Equinix in the 4th quarter valued at approximately $31,000. GHP Investment Advisors Inc. raised its position in shares of Equinix by 50.0% in the 3rd quarter. GHP Investment Advisors Inc. now owns 39 shares of the financial services provider's stock valued at $35,000 after acquiring an additional 13 shares during the period. Fortitude Family Office LLC raised its position in shares of Equinix by 50.0% in the 3rd quarter. Fortitude Family Office LLC now owns 39 shares of the financial services provider's stock valued at $35,000 after acquiring an additional 13 shares during the period. Sierra Ocean LLC acquired a new stake in shares of Equinix in the 4th quarter valued at approximately $42,000. Finally, Dunhill Financial LLC raised its position in shares of Equinix by 108.7% in the 3rd quarter. Dunhill Financial LLC now owns 48 shares of the financial services provider's stock valued at $43,000 after acquiring an additional 25 shares during the period. Institutional investors own 94.94% of the company's stock.

Insiders Place Their Bets

In other Equinix news, insider Kurt Pletcher sold 222 shares of Equinix stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $962.20, for a total transaction of $213,608.40. Following the completion of the transaction, the insider now directly owns 1,015 shares of the company's stock, valued at $976,633. The trade was a 17.95 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Keith D. Taylor sold 1,500 shares of Equinix stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $971.18, for a total transaction of $1,456,770.00. Following the transaction, the chief financial officer now directly owns 18,966 shares of the company's stock, valued at approximately $18,419,399.88. This trade represents a 7.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 23,057 shares of company stock valued at $21,345,223 over the last ninety days. 0.27% of the stock is currently owned by company insiders.

Equinix Stock Down 2.2 %

Shares of NASDAQ:EQIX traded down $20.57 during midday trading on Friday, hitting $919.68. The stock had a trading volume of 664,034 shares, compared to its average volume of 505,680. Equinix, Inc. has a 12 month low of $684.14 and a 12 month high of $994.03. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 1.19. The business's 50-day simple moving average is $932.17 and its 200-day simple moving average is $899.99. The company has a market cap of $89.51 billion, a P/E ratio of 107.56, a PEG ratio of 1.78 and a beta of 0.72.

Equinix (NASDAQ:EQIX - Get Free Report) last released its earnings results on Wednesday, February 12th. The financial services provider reported $7.92 earnings per share for the quarter, beating the consensus estimate of $2.75 by $5.17. Equinix had a net margin of 9.32% and a return on equity of 6.31%. On average, sell-side analysts forecast that Equinix, Inc. will post 33.1 earnings per share for the current fiscal year.

Equinix Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Wednesday, February 26th will be given a dividend of $4.69 per share. This represents a $18.76 dividend on an annualized basis and a yield of 2.04%. This is a boost from Equinix's previous quarterly dividend of $4.26. The ex-dividend date is Wednesday, February 26th. Equinix's payout ratio is 199.30%.

Analyst Upgrades and Downgrades

EQIX has been the topic of a number of analyst reports. Scotiabank cut their price target on shares of Equinix from $1,114.00 to $1,033.00 and set a "sector outperform" rating on the stock in a research report on Thursday, February 13th. Royal Bank of Canada raised their target price on shares of Equinix from $936.00 to $1,025.00 and gave the stock an "outperform" rating in a report on Wednesday, December 11th. Stifel Nicolaus raised their target price on shares of Equinix from $995.00 to $1,080.00 and gave the stock a "buy" rating in a report on Wednesday, November 20th. JMP Securities restated a "market outperform" rating and set a $1,200.00 target price on shares of Equinix in a report on Thursday, February 13th. Finally, TD Cowen raised their target price on shares of Equinix from $865.00 to $984.00 and gave the stock a "buy" rating in a report on Thursday, October 31st. Three investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Buy" and an average target price of $994.82.

Equinix Company 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.