New York State Teachers Retirement System Sells 1,668 Shares of Equinix, Inc. (NASDAQ:EQIX)

New York State Teachers Retirement System lowered its position in Equinix, Inc. (NASDAQ:EQIX - Free Report) by 2.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 74,986 shares of the financial services provider's stock after selling 1,668 shares during the period. New York State Teachers Retirement System owned about 0.08% of Equinix worth $61,140,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Norges Bank purchased a new position in Equinix in the fourth quarter worth about $1,067,270,000. GAMMA Investing LLC lifted its stake in shares of Equinix by 82,340.9% in the 1st quarter. GAMMA Investing LLC now owns 890,362 shares of the financial services provider's stock worth $725,957,000 after purchasing an additional 889,282 shares during the period. Northern Trust Corp lifted its stake in shares of Equinix by 65.3% in the 4th quarter. Northern Trust Corp now owns 1,483,781 shares of the financial services provider's stock worth $1,399,042,000 after purchasing an additional 586,034 shares during the period. Wellington Management Group LLP boosted its holdings in shares of Equinix by 28.7% in the fourth quarter. Wellington Management Group LLP now owns 1,804,227 shares of the financial services provider's stock worth $1,701,188,000 after buying an additional 401,991 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new stake in Equinix during the fourth quarter valued at approximately $328,899,000. Hedge funds and other institutional investors own 94.94% of the company's stock.

Insider Activity

In related news, insider Kurt Pletcher sold 127 shares of Equinix stock in a transaction dated Wednesday, May 7th. The stock was sold at an average price of $877.70, for a total value of $111,467.90. Following the completion of the transaction, the insider owned 1,842 shares in the company, valued at approximately $1,616,723.40. This trade represents a 6.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Christopher B. Paisley sold 100 shares of the company's stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $869.41, for a total value of $86,941.00. Following the sale, the director owned 17,569 shares in the company, valued at approximately $15,274,664.29. This trade represents 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 have sold 3,176 shares of company stock worth $2,808,008. 0.27% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have commented on EQIX. BMO Capital Markets cut Equinix from an "outperform" rating to a "market perform" rating and reduced their price target for the stock from $1,045.00 to $850.00 in a research report on Thursday, June 26th. New Street Research upgraded Equinix to a "strong-buy" rating in a research note on Monday, April 28th. Barclays raised their target price on shares of Equinix from $834.00 to $837.00 and gave the stock an "equal weight" rating in a research note on Tuesday, May 27th. Wolfe Research downgraded shares of Equinix from an "outperform" rating to a "peer perform" rating in a report on Monday, June 9th. Finally, Scotiabank dropped their price target on shares of Equinix from $1,030.00 to $965.00 and set a "sector outperform" rating for the company in a research report on Thursday, June 26th. Four equities research 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, Equinix currently has an average rating of "Buy" and an average price target of $960.55.

Equinix Price Performance

Equinix stock traded down $7.65 during midday trading on Friday, reaching $787.50. 539,869 shares of the stock traded hands, compared to its average volume of 556,961. 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 12 month low of $701.41 and a 12 month high of $994.03. The stock's fifty day moving average is $866.92 and its 200-day moving average is $876.38. The stock has a market cap of $77.03 billion, a P/E ratio of 81.86, a PEG ratio of 1.14 and a beta of 0.93.

Equinix (NASDAQ:EQIX - Get Free Report) last posted its earnings results on Wednesday, April 30th. The financial services provider reported $9.67 earnings per share for the quarter, beating analysts' consensus estimates of $9.01 by $0.66. Equinix had a net margin of 10.48% and a return on equity of 6.96%. The firm had revenue of $2.23 billion during the quarter, compared to analyst estimates of $2.23 billion. During the same period last year, the firm posted $8.86 earnings per share. Equinix's revenue for the quarter was up 4.1% compared to the same quarter last year. As a group, equities research analysts anticipate that Equinix, Inc. will post 33.1 EPS for the current year.

Equinix Announces Dividend

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