Teacher Retirement System of Texas Sells 29,352 Shares of Equinix, Inc. (NASDAQ:EQIX)

Teacher Retirement System of Texas trimmed its stake in shares of Equinix, Inc. (NASDAQ:EQIX - Free Report) by 41.5% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 41,403 shares of the financial services provider's stock after selling 29,352 shares during the period. Teacher Retirement System of Texas' holdings in Equinix were worth $33,758,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Pinney & Scofield Inc. purchased a new stake in shares of Equinix during the 4th quarter worth approximately $28,000. Whipplewood Advisors LLC increased its position in Equinix by 127.8% in the first quarter. Whipplewood Advisors LLC now owns 41 shares of the financial services provider's stock worth $33,000 after purchasing an additional 23 shares during the last quarter. Pacific Center for Financial Services increased its position in Equinix by 65.2% in the fourth quarter. Pacific Center for Financial Services now owns 38 shares of the financial services provider's stock worth $36,000 after purchasing an additional 15 shares during the last quarter. J.Safra Asset Management Corp purchased a new stake in Equinix during the fourth quarter valued at $39,000. Finally, Park Square Financial Group LLC bought a new position in Equinix during the fourth quarter valued at $49,000. 94.94% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on EQIX. Truist Financial reduced their target price on shares of Equinix from $986.00 to $904.00 and set a "buy" rating on the stock in a report on Tuesday. Cowen reissued a "buy" rating on shares of Equinix in a research note on Thursday. JPMorgan Chase & Co. lowered their price objective on Equinix from $975.00 to $935.00 and set an "overweight" rating for the company in a research note on Thursday, June 26th. Cfra Research cut Equinix from a "strong-buy" rating to a "moderate buy" rating in a report on Thursday, June 26th. Finally, Citigroup increased their price target on Equinix from $970.00 to $990.00 and gave the company a "buy" rating in a report on Monday, May 5th. Four research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and five have given a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Buy" and an average price target of $960.55.

Insiders Place Their Bets

In other news, insider Kurt Pletcher sold 127 shares of the business's stock in a transaction dated Wednesday, May 7th. The shares were sold at an average price of $877.70, for a total value of $111,467.90. Following the completion of the sale, the insider owned 1,842 shares in the company, valued at approximately $1,616,723.40. The trade was a 6.45% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Adaire Fox-Martin sold 2,949 shares of the company's stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $884.91, for a total transaction of $2,609,599.59. Following the completion of the sale, the chief executive officer directly owned 9,615 shares of the company's stock, valued at $8,508,409.65. The trade was a 23.47% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 3,176 shares of company stock worth $2,808,008. 0.27% of the stock is currently owned by company insiders.

Equinix Trading Down 1.0%

EQIX traded down $7.65 on Friday, reaching $787.50. 539,869 shares of the company traded hands, compared to its average volume of 557,706. The company has a market cap of $77.03 billion, a P/E ratio of 81.86, a price-to-earnings-growth ratio of 1.13 and a beta of 0.93. The company has a quick ratio of 1.65, a current ratio of 1.65 and a debt-to-equity ratio of 1.20. Equinix, Inc. has a one year low of $701.41 and a one year high of $994.03. The firm has a fifty day simple moving average of $865.90 and a two-hundred day simple moving average of $874.82.

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 analysts' consensus estimates of $9.01 by $0.66. The business had revenue of $2.23 billion for the quarter, compared to analyst estimates of $2.23 billion. Equinix had a net margin of 10.48% and a return on equity of 6.96%. The company's quarterly revenue was up 4.1% compared to the same quarter last year. During the same period last year, the company posted $8.86 earnings per share. As a group, equities research analysts expect that Equinix, Inc. will post 33.1 earnings per share for the current year.

Equinix Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Wednesday, May 21st were given a dividend of $4.69 per share. This represents a $18.76 dividend on an annualized basis and a yield of 2.38%. The ex-dividend date was Wednesday, May 21st. Equinix's dividend payout ratio (DPR) is presently 195.01%.

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.