Equinix, Inc. (NASDAQ:EQIX) Shares Sold by California State Teachers Retirement System

California State Teachers Retirement System lowered its stake in Equinix, Inc. (NASDAQ:EQIX - Free Report) by 4.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 144,163 shares of the financial services provider's stock after selling 6,108 shares during the period. California State Teachers Retirement System owned about 0.15% of Equinix worth $135,930,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Inspire Trust Co. N.A. lifted its stake in Equinix by 0.7% in the third quarter. Inspire Trust Co. N.A. now owns 1,700 shares of the financial services provider's stock worth $1,509,000 after acquiring an additional 11 shares during the last quarter. Rothschild Investment LLC lifted its position in shares of Equinix by 1.9% during the 4th quarter. Rothschild Investment LLC now owns 576 shares of the financial services provider's stock worth $543,000 after purchasing an additional 11 shares during the last quarter. Legacy Financial Advisors Inc. grew its stake in shares of Equinix by 3.2% during the fourth quarter. Legacy Financial Advisors Inc. now owns 360 shares of the financial services provider's stock worth $340,000 after purchasing an additional 11 shares in the last quarter. Ritholtz Wealth Management boosted its position in shares of Equinix by 1.8% during the 4th quarter. Ritholtz Wealth Management now owns 671 shares of the financial services provider's stock worth $633,000 after acquiring an additional 12 shares in the last quarter. Finally, Great Lakes Retirement Inc. raised its position in shares of Equinix by 1.2% during the 4th quarter. Great Lakes Retirement Inc. now owns 975 shares of the financial services provider's stock worth $920,000 after acquiring an additional 12 shares in the last quarter. Hedge funds and other institutional investors own 94.94% of the company's stock.

Insider Transactions at Equinix

In related news, Director Christopher B. Paisley sold 125 shares of the company's stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $912.21, for a total value of $114,026.25. Following the sale, the director now owns 17,669 shares of the company's stock, valued at approximately $16,117,838.49. This represents a 0.70 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Brandi Galvin Morandi sold 684 shares of the firm's stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $940.51, for a total value of $643,308.84. Following the transaction, the insider now directly owns 8,377 shares of the company's stock, valued at $7,878,652.27. The trade was a 7.55 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 7,040 shares of company stock valued at $6,547,068 in the last quarter. 0.27% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages recently issued reports on EQIX. JMP Securities reaffirmed a "market outperform" rating and issued a $1,200.00 price target on shares of Equinix in a report on Thursday. Oppenheimer upped their target price on shares of Equinix from $950.00 to $975.00 and gave the company an "outperform" rating in a report on Thursday, February 13th. Truist Financial cut their price target on shares of Equinix from $1,028.00 to $990.00 and set a "buy" rating on the stock in a research note on Monday, March 10th. Wells Fargo & Company decreased their price objective on shares of 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. Finally, BMO Capital Markets cut their target price on Equinix from $1,085.00 to $1,065.00 and set an "outperform" rating on the stock in a research report on Thursday, February 13th. Two investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and five have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Equinix presently has an average rating of "Buy" and a consensus price target of $1,004.05.

Equinix Price Performance

Shares of EQIX traded up $13.88 during mid-day trading on Friday, hitting $875.85. The company's stock had a trading volume of 443,317 shares, compared to its average volume of 545,474. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 1.19. Equinix, Inc. has a 1-year low of $684.14 and a 1-year high of $994.03. The firm has a market capitalization of $85.67 billion, a P/E ratio of 102.44, a P/E/G ratio of 1.78 and a beta of 0.95. The firm has a 50-day simple moving average of $829.43 and a 200 day simple moving average of $894.56.

Equinix (NASDAQ:EQIX - Get Free Report) last issued its earnings results on Wednesday, April 30th. The financial services provider reported $9.67 EPS for the quarter, topping the consensus estimate of $9.01 by $0.66. The company had revenue of $2.23 billion for the quarter, compared to analyst estimates of $2.23 billion. Equinix had a net margin of 9.32% and a return on equity of 6.31%. The business's revenue was up 4.1% on a year-over-year basis. During the same period in the previous year, the firm earned $8.86 EPS. Analysts predict that Equinix, Inc. will post 33.1 EPS for the current fiscal year.

Equinix Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Wednesday, May 21st will be given a dividend of $4.69 per share. The ex-dividend date is Wednesday, May 21st. This represents a $18.76 dividend on an annualized basis and a dividend yield of 2.14%. Equinix's payout ratio is 195.01%.

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.