New York State Teachers Retirement System Sells 4,520 Shares of Equinix, Inc. $EQIX

New York State Teachers Retirement System lessened its stake in Equinix, Inc. (NASDAQ:EQIX) by 5.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 72,456 shares of the financial services provider’s stock after selling 4,520 shares during the period. New York State Teachers Retirement System owned 0.07% of Equinix worth $56,750,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of EQIX. Westside Investment Management Inc. grew its position in shares of Equinix by 190.9% in the 2nd quarter. Westside Investment Management Inc. now owns 32 shares of the financial services provider’s stock worth $25,000 after buying an additional 21 shares during the last quarter. Atlantic Union Bankshares Corp purchased a new stake in Equinix during the second quarter valued at approximately $26,000. Bank of Jackson Hole Trust boosted its stake in Equinix by 70.0% in the second quarter. Bank of Jackson Hole Trust now owns 34 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 14 shares in the last quarter. Abound Wealth Management boosted its stake in Equinix by 209.1% in the third quarter. Abound Wealth Management now owns 34 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 23 shares in the last quarter. Finally, Clal Insurance Enterprises Holdings Ltd purchased a new position in Equinix in the second quarter worth $28,000. 94.94% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Equinix

In other Equinix news, EVP Raouf Abdel sold 159 shares of Equinix stock in a transaction dated Tuesday, December 2nd. The stock was sold at an average price of $731.19, for a total transaction of $116,259.21. Following the completion of the transaction, the executive vice president owned 6,584 shares in the company, valued at approximately $4,814,154.96. This trade represents a 2.36% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Kurt Pletcher sold 290 shares of the business’s stock in a transaction dated Tuesday, December 2nd. The shares were sold at an average price of $731.19, for a total value of $212,045.10. Following the completion of the transaction, the insider directly owned 2,433 shares of the company’s stock, valued at approximately $1,778,985.27. This trade represents a 10.65% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 8,704 shares of company stock valued at $6,617,748. 0.27% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

EQIX has been the subject of several analyst reports. TD Cowen increased their price objective on Equinix from $993.00 to $995.00 and gave the company a “buy” rating in a report on Thursday, October 30th. Citigroup reaffirmed a “buy” rating on shares of Equinix in a research report on Thursday, December 11th. Daiwa Capital Markets set a $917.00 price target on Equinix and gave the company an “outperform” rating in a research note on Wednesday, October 22nd. JPMorgan Chase & Co. raised their price target on Equinix from $940.00 to $950.00 and gave the stock an “overweight” rating in a report on Thursday, October 30th. Finally, Morgan Stanley assumed coverage on shares of Equinix in a report on Thursday, October 16th. They set an “overweight” rating and a $950.00 price objective on the stock. Four equities research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $952.05.

Equinix Stock Performance

Shares of EQIX opened at $800.35 on Monday. The company has a debt-to-equity ratio of 1.32, a quick ratio of 1.62 and a current ratio of 1.62. The stock has a 50-day moving average of $769.03 and a two-hundred day moving average of $781.96. The stock has a market cap of $78.59 billion, a P/E ratio of 73.29, a P/E/G ratio of 1.25 and a beta of 1.05. Equinix, Inc. has a one year low of $701.41 and a one year high of $953.41.

Equinix (NASDAQ:EQIX) last announced its quarterly earnings data on Wednesday, October 29th. The financial services provider reported $9.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $9.27 by $0.56. Equinix had a return on equity of 7.70% and a net margin of 11.82%.The firm had revenue of $2.32 billion during the quarter, compared to analysts’ expectations of $2.33 billion. During the same period last year, the business posted $9.05 earnings per share. The company’s revenue for the quarter was up 5.2% compared to the same quarter last year. Equinix has set its FY 2025 guidance at 37.950-38.77 EPS. As a group, research analysts predict that Equinix, Inc. will post 33.1 EPS for the current year.

Equinix Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 17th. Stockholders of record on Wednesday, November 19th were issued a $4.69 dividend. This represents a $18.76 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend was Wednesday, November 19th. Equinix’s dividend payout ratio is 171.79%.

About Equinix

Equinix, Inc is a global provider of digital infrastructure and interconnection services, specializing in carrier-neutral data centers and colocation. The company operates a platform that enables enterprises, cloud and network service providers, and content companies to colocate IT infrastructure, interconnect directly with partners and providers, and access cloud on-ramps and network services in a secure, low-latency environment.

Equinix’s offerings include traditional colocation space and power, cross-connects and meet-me rooms, and a suite of connectivity and on-demand services designed for hybrid multicloud architectures.