Equinix, Inc. $EQIX Shares Sold by State of New Jersey Common Pension Fund D

Key Points

• The State of New Jersey Common Pension Fund D reduced its Equinix, Inc. holdings by 5.3%, selling 4,421 shares in the first quarter, and now owns approximately $63.97 million worth of the stock.
• CEO Adaire Fox-Martin sold 2,949 shares of Equinix stock at an average price of $884.91, resulting in a 23.47% decrease in his ownership.
• Equinix has a current market capitalization of $75.88 billion and reported earnings of $9.91 per share for the last quarter, significantly exceeding analysts' estimates.

State of New Jersey Common Pension Fund D cut its position in Equinix, Inc. (NASDAQ:EQIX - Free Report) by 5.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 78,458 shares of the financial services provider's stock after selling 4,421 shares during the period. State of New Jersey Common Pension Fund D owned 0.08% of Equinix worth $63,971,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in EQIX. Truist Financial Corp increased its holdings in shares of Equinix by 8.2% during the first 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 increased its stake in Equinix by 71.7% during 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 purchasing an additional 31,073 shares in the last quarter. First United Bank & Trust bought a new position in Equinix in the 1st quarter valued at about $451,000. Miller Howard Investments Inc. NY raised its position in 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 buying an additional 646 shares during the last quarter. Finally, Crossmark Global Holdings Inc. boosted its holdings in Equinix by 113.2% during the first quarter. Crossmark Global Holdings Inc. now owns 17,954 shares of the financial services provider's stock worth $14,639,000 after purchasing an additional 9,534 shares during the last quarter. 94.94% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on EQIX shares. Bank of America reduced their target price on shares of Equinix from $1,000.00 to $950.00 and set a "buy" rating for the company in a research report on Thursday, June 26th. BMO Capital Markets cut shares of Equinix from an "outperform" rating to a "market perform" rating and reduced their price objective for the company from $1,045.00 to $850.00 in a research note on Thursday, June 26th. JMP Securities reaffirmed a "market outperform" rating and issued a $1,200.00 price target on shares of Equinix in a report on Tuesday, July 22nd. Cowen reiterated a "buy" rating on shares of Equinix in a research report on Thursday, July 3rd. Finally, Stifel Nicolaus reduced their price target on shares of Equinix from $1,050.00 to $1,010.00 and set a "buy" rating on the stock in a research report on Thursday, June 26th. Five investment analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus price target of $962.52.

Insider Activity at Equinix

In other Equinix news, Director Christopher B. Paisley sold 75 shares of the stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $781.50, for a total transaction of $58,612.50. Following the transaction, the director directly owned 17,832 shares in the company, valued at $13,935,708. This represents a 0.42% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Adaire Fox-Martin sold 2,949 shares of Equinix 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 transaction, the chief executive officer directly owned 9,615 shares in the company, valued at approximately $8,508,409.65. The trade was a 23.47% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.27% of the company's stock.

Equinix Stock Performance

Equinix stock traded up $1.5650 during midday trading on Wednesday, reaching $775.0250. 153,005 shares of the company traded hands, compared to its average volume of 623,219. The firm has a market capitalization of $75.84 billion, a price-to-earnings ratio of 75.91, a price-to-earnings-growth ratio of 1.39 and a beta of 0.90. Equinix, Inc. has a 12 month low of $701.41 and a 12 month high of $994.03. The company has a debt-to-equity ratio of 1.29, a current ratio of 1.54 and a quick ratio of 1.54. The business has a 50 day moving average of $803.20 and a two-hundred day moving average of $841.53.

Equinix (NASDAQ:EQIX - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The financial services provider reported $9.91 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.49 by $6.42. Equinix had a net margin of 11.11% and a return on equity of 7.22%. The company had revenue of $2.26 billion for the quarter, compared to the consensus estimate of $2.26 billion. During the same quarter last year, the firm posted $9.22 earnings per share. The firm's revenue was up 4.5% compared to the same quarter last year. Equinix has set its Q3 2025 guidance at EPS. FY 2025 guidance at 37.670-38.480 EPS. As a group, research analysts predict that Equinix, Inc. will post 33.1 earnings per share for the current year.

Equinix Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 17th. Investors of record on Wednesday, August 20th will be issued a $4.69 dividend. The ex-dividend date of this dividend is Wednesday, August 20th. This represents a $18.76 dividend on an annualized basis and a dividend yield of 2.4%. Equinix's dividend payout ratio (DPR) is 183.74%.

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.