New York State Teachers Retirement System Decreases Position in Equinix, Inc. (NASDAQ:EQIX)

New York State Teachers Retirement System lowered its position in Equinix, Inc. (NASDAQ:EQIX - Free Report) by 2.8% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 76,654 shares of the financial services provider's stock after selling 2,229 shares during the period. New York State Teachers Retirement System owned 0.08% of Equinix worth $72,276,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in EQIX. GHP Investment Advisors Inc. lifted its holdings in 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 purchasing an additional 13 shares in the last quarter. Fortitude Family Office LLC lifted its holdings in 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 purchasing an additional 13 shares in the last quarter. Dunhill Financial LLC lifted its holdings in 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 purchasing an additional 25 shares in the last quarter. Thompson Investment Management Inc. purchased a new position in Equinix in the 4th quarter valued at $47,000. Finally, Friedenthal Financial purchased a new position in Equinix in the 4th quarter valued at $58,000. Hedge funds and other institutional investors own 94.94% of the company's stock.

Analyst Ratings Changes

A number of brokerages have issued reports on EQIX. TD Cowen raised their target price on Equinix from $865.00 to $984.00 and gave the stock a "buy" rating in a research note on Thursday, October 31st. JMP Securities reaffirmed a "market outperform" rating and issued a $1,200.00 target price on shares of Equinix in a research note on Thursday, February 13th. Moffett Nathanson raised Equinix from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, February 5th. Citizens Jmp raised Equinix to a "strong-buy" rating in a research note on Monday, January 27th. Finally, Wells Fargo & Company cut their target price on Equinix from $1,075.00 to $1,065.00 and set an "overweight" rating for the company in a research note on Thursday, February 13th. Three equities research 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 stock. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $994.82.

Insider Activity

In other news, CEO Adaire Fox-Martin sold 2,965 shares of Equinix stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $961.62, for a total value of $2,851,203.30. Following the completion of the transaction, the chief executive officer now owns 3,069 shares in the company, valued at approximately $2,951,211.78. This trade represents a 49.14 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Chairman Charles J. Meyers sold 5,788 shares of Equinix stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $909.81, for a total value of $5,265,980.28. Following the completion of the transaction, the chairman now owns 15,233 shares of the company's stock, valued at $13,859,135.73. The trade was a 27.53 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 16,701 shares of company stock worth $15,441,464. 0.27% of the stock is currently owned by company insiders.

Equinix Trading Down 0.3 %

Equinix stock traded down $2.56 during midday trading on Tuesday, reaching $931.04. 512,892 shares of the stock traded hands, compared to its average volume of 507,242. The company has a 50-day simple moving average of $934.17 and a two-hundred day simple moving average of $898.55. Equinix, Inc. has a 12-month low of $684.14 and a 12-month high of $994.03. The firm has a market cap of $90.62 billion, a PE ratio of 83.95, a price-to-earnings-growth ratio of 2.23 and a beta of 0.72. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 1.12.

Equinix (NASDAQ:EQIX - Get Free Report) last announced its earnings results on Wednesday, February 12th. The financial services provider reported $7.92 EPS for the quarter, beating analysts' consensus estimates of $2.75 by $5.17. Equinix had a return on equity of 8.34% and a net margin of 12.29%. Research analysts expect that Equinix, Inc. will post 31.09 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. Stockholders of record on Wednesday, February 26th will be paid a $4.69 dividend. This represents a $18.76 annualized dividend and a dividend yield of 2.01%. The ex-dividend date of this dividend is Wednesday, February 26th. This is a boost from Equinix's previous quarterly dividend of $4.26. Equinix's dividend payout ratio (DPR) is presently 219.42%.

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.