New York State Common Retirement Fund Trims Holdings in Equinix, Inc. (NASDAQ:EQIX)

New York State Common Retirement Fund cut its stake in shares of Equinix, Inc. (NASDAQ:EQIX - Free Report) by 6.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 137,859 shares of the financial services provider's stock after selling 9,016 shares during the quarter. New York State Common Retirement Fund owned approximately 0.15% of Equinix worth $111,030,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Balentine LLC lifted its holdings in Equinix by 0.8% in the 3rd quarter. Balentine LLC now owns 1,707 shares of the financial services provider's stock worth $1,240,000 after purchasing an additional 14 shares in the last quarter. Sage Mountain Advisors LLC lifted its holdings in Equinix by 3.9% in the 4th quarter. Sage Mountain Advisors LLC now owns 377 shares of the financial services provider's stock worth $304,000 after purchasing an additional 14 shares in the last quarter. First Trust Direct Indexing L.P. lifted its holdings in Equinix by 0.5% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 2,783 shares of the financial services provider's stock worth $2,021,000 after purchasing an additional 15 shares in the last quarter. Legacy Advisors LLC lifted its holdings in Equinix by 1.6% in the 3rd quarter. Legacy Advisors LLC now owns 935 shares of the financial services provider's stock worth $679,000 after purchasing an additional 15 shares in the last quarter. Finally, Arbor Capital Management Inc. ADV lifted its holdings in Equinix by 0.8% in the 3rd quarter. Arbor Capital Management Inc. ADV now owns 1,964 shares of the financial services provider's stock worth $1,396,000 after purchasing an additional 16 shares in the last quarter. 94.94% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Equinix

In other Equinix news, CEO Charles J. Meyers sold 2,110 shares of the company's stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $832.69, for a total value of $1,756,975.90. Following the transaction, the chief executive officer now owns 10,115 shares of the company's stock, valued at approximately $8,422,659.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Chairman Camp Peter Van sold 122 shares of the stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $831.12, for a total transaction of $101,396.64. Following the transaction, the chairman now owns 7,968 shares of the company's stock, valued at approximately $6,622,364.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Charles J. Meyers sold 2,110 shares of the stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $832.69, for a total value of $1,756,975.90. Following the transaction, the chief executive officer now directly owns 10,115 shares in the company, valued at approximately $8,422,659.35. The disclosure for this sale can be found here. Insiders have sold 4,585 shares of company stock valued at $3,818,268 in the last quarter. 0.27% of the stock is owned by insiders.

Equinix Trading Up 0.9 %

Equinix stock traded up $7.16 during mid-day trading on Tuesday, hitting $761.90. The company's stock had a trading volume of 662,870 shares, compared to its average volume of 562,853. The company has a 50 day moving average of $831.66 and a 200-day moving average of $803.12. The stock has a market cap of $72.09 billion, a PE ratio of 73.20, a P/E/G ratio of 1.94 and a beta of 0.58. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.13 and a current ratio of 1.13. Equinix, Inc. has a one year low of $672.88 and a one year high of $914.93.

Equinix Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 20th. Shareholders of record on Wednesday, February 28th were given a $4.26 dividend. This represents a $17.04 annualized dividend and a yield of 2.24%. The ex-dividend date of this dividend was Tuesday, February 27th. Equinix's dividend payout ratio (DPR) is presently 165.28%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Wells Fargo & Company boosted their price target on Equinix from $800.00 to $825.00 and gave the stock an "equal weight" rating in a report on Thursday, February 15th. Morgan Stanley decreased their price objective on Equinix from $767.00 to $762.00 and set an "equal weight" rating on the stock in a report on Thursday, March 28th. Stifel Nicolaus reaffirmed a "buy" rating and set a $960.00 price objective on shares of Equinix in a report on Wednesday, March 13th. Royal Bank of Canada upped their price objective on Equinix from $855.00 to $950.00 and gave the stock an "outperform" rating in a report on Thursday, February 29th. Finally, Wolfe Research raised Equinix from an "underperform" rating to a "peer perform" rating in a report on Tuesday, January 2nd. Seven equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $862.50.

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.