New York State Common Retirement Fund Sells 10,709 Shares of Equinix, Inc. (NASDAQ:EQIX)

New York State Common Retirement Fund reduced its stake in Equinix, Inc. (NASDAQ:EQIX - Free Report) by 7.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 130,921 shares of the financial services provider's stock after selling 10,709 shares during the period. New York State Common Retirement Fund owned 0.13% of Equinix worth $106,746,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. Truist Financial Corp lifted its position in shares of Equinix by 8.2% in the 1st quarter. Truist Financial Corp now owns 52,301 shares of the financial services provider's stock valued at $42,643,000 after acquiring an additional 3,981 shares in the last quarter. Nisa Investment Advisors LLC lifted its position in shares of Equinix by 71.7% in the 1st quarter. Nisa Investment Advisors LLC now owns 74,434 shares of the financial services provider's stock valued at $60,690,000 after acquiring an additional 31,073 shares in the last quarter. First United Bank & Trust purchased a new stake in shares of Equinix in the 1st quarter valued at approximately $451,000. Miller Howard Investments Inc. NY lifted its position in shares of Equinix by 20.1% in the 1st quarter. Miller Howard Investments Inc. NY now owns 3,864 shares of the financial services provider's stock valued at $3,150,000 after acquiring an additional 646 shares in the last quarter. Finally, CapWealth Advisors LLC lifted its position in shares of Equinix by 4.1% in the 1st quarter. CapWealth Advisors LLC now owns 24,149 shares of the financial services provider's stock valued at $19,690,000 after acquiring an additional 950 shares in the last quarter. 94.94% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Equinix

In other news, CEO Adaire Fox-Martin sold 2,949 shares of the firm's stock in a transaction that occurred on Tuesday, June 3rd. The shares were 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 owned 9,615 shares of the company's stock, valued at approximately $8,508,409.65. This trade represents a 23.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Christopher B. Paisley sold 100 shares of the business's stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $869.41, for a total value of $86,941.00. Following the completion of the transaction, the director directly owned 17,569 shares in the company, valued at $15,274,664.29. The trade was a 0.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 3,176 shares of company stock valued at $2,808,008. Company insiders own 0.27% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. BMO Capital Markets downgraded shares of Equinix from an "outperform" rating to a "market perform" rating and reduced their price target for the company from $1,045.00 to $850.00 in a research report on Thursday, June 26th. JPMorgan Chase & Co. dropped their price objective on shares of Equinix from $975.00 to $935.00 and set an "overweight" rating on the stock in a research note on Thursday, June 26th. Wolfe Research lowered shares of Equinix from an "outperform" rating to a "peer perform" rating in a research note on Monday, June 9th. New Street Research upgraded shares of Equinix to a "strong-buy" rating in a research note on Monday, April 28th. Finally, UBS Group dropped their price objective on shares of Equinix from $1,035.00 to $950.00 and set a "buy" rating on the stock in a research note on Friday. Four equities research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and five have issued a strong buy rating to the company. According to MarketBeat, Equinix has a consensus rating of "Buy" and an average target price of $957.05.

Equinix Stock Performance

NASDAQ EQIX traded down $0.24 during midday trading on Tuesday, hitting $759.96. The company had a trading volume of 576,931 shares, compared to its average volume of 563,726. The company has a quick ratio of 1.65, a current ratio of 1.65 and a debt-to-equity ratio of 1.20. The stock has a market cap of $74.34 billion, a price-to-earnings ratio of 79.00, a P/E/G ratio of 1.29 and a beta of 0.93. The firm has a fifty day simple moving average of $854.04 and a two-hundred day simple moving average of $867.00. Equinix, Inc. has a fifty-two week low of $701.41 and a fifty-two week high of $994.03.

Equinix (NASDAQ:EQIX - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The financial services provider reported $9.67 earnings per share (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 10.48% and a return on equity of 6.96%. The business's quarterly revenue was up 4.1% on a year-over-year basis. During the same period last year, the business posted $8.86 EPS. Equities analysts forecast that Equinix, Inc. will post 33.1 earnings per share for the current fiscal year.

Equinix Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Wednesday, May 21st were given a $4.69 dividend. The ex-dividend date was Wednesday, May 21st. This represents a $18.76 annualized dividend and a yield of 2.47%. Equinix's dividend 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.