Equinix, Inc. (NASDAQ:EQIX) Shares Purchased by New York State Teachers Retirement System

Posted by Defense World Staff on Apr 10th, 2023

New York State Teachers Retirement System grew its position in Equinix, Inc. (NASDAQ:EQIX – Get Rating) by 3.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 105,206 shares of the financial services provider’s stock after acquiring an additional 3,703 shares during the quarter. New York State Teachers Retirement System owned approximately 0.11% of Equinix worth $68,913,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in Equinix by 0.7% in the third quarter. Vanguard Group Inc. now owns 12,011,822 shares of the financial services provider’s stock worth $6,832,805,000 after buying an additional 82,116 shares during the period. BlackRock Inc. boosted its position in shares of Equinix by 0.3% during the third quarter. BlackRock Inc. now owns 9,056,624 shares of the financial services provider’s stock worth $5,151,771,000 after buying an additional 31,578 shares during the period. Dimensional Fund Advisors LP grew its holdings in Equinix by 0.8% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,225,904 shares of the financial services provider’s stock worth $697,337,000 after buying an additional 9,878 shares in the last quarter. Legal & General Group Plc increased its position in Equinix by 5.0% in the 2nd quarter. Legal & General Group Plc now owns 1,094,583 shares of the financial services provider’s stock valued at $719,168,000 after acquiring an additional 51,995 shares during the period. Finally, Goldman Sachs Group Inc. raised its stake in Equinix by 2.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 949,325 shares of the financial services provider’s stock valued at $704,039,000 after acquiring an additional 24,513 shares in the last quarter. Institutional investors and hedge funds own 92.80% of the company’s stock.

Analysts Set New Price Targets

EQIX has been the topic of a number of research analyst reports. Deutsche Bank Aktiengesellschaft raised their price target on Equinix from $725.00 to $760.00 and gave the company a “buy” rating in a report on Wednesday, February 22nd. Exane BNP Paribas initiated coverage on Equinix in a report on Wednesday, December 14th. They set an “outperform” rating on the stock. BMO Capital Markets raised shares of Equinix from a “market perform” rating to an “outperform” rating and upped their price target for the company from $755.00 to $785.00 in a report on Monday, March 27th. Morgan Stanley reduced their price objective on shares of Equinix from $704.00 to $702.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 15th. Finally, TheStreet upgraded shares of Equinix from a “c+” rating to a “b-” rating in a report on Tuesday, December 13th. Five research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $780.94.

Equinix Stock Up 1.1 %

Shares of Equinix stock opened at $711.23 on Monday. The firm has a market cap of $65.99 billion, a price-to-earnings ratio of 92.61, a P/E/G ratio of 2.36 and a beta of 0.63. The stock has a 50-day simple moving average of $704.74 and a 200-day simple moving average of $659.09. Equinix, Inc. has a 52-week low of $494.89 and a 52-week high of $776.35. The company has a debt-to-equity ratio of 1.29, a current ratio of 1.80 and a quick ratio of 1.80.

Equinix (NASDAQ:EQIX – Get Rating) last posted its earnings results on Wednesday, February 15th. The financial services provider reported $1.39 EPS for the quarter, missing the consensus estimate of $5.90 by ($4.51). Equinix had a return on equity of 6.37% and a net margin of 9.70%. The business had revenue of $1.87 billion during the quarter, compared to the consensus estimate of $1.86 billion. During the same period in the prior year, the firm earned $6.22 earnings per share. The business’s revenue was up 9.6% on a year-over-year basis. On average, equities research analysts expect that Equinix, Inc. will post 27.53 earnings per share for the current fiscal year.

Equinix Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 22nd. Stockholders of record on Tuesday, March 7th were paid a dividend of $3.41 per share. This represents a $13.64 annualized dividend and a dividend yield of 1.92%. The ex-dividend date was Monday, March 6th. This is an increase from Equinix’s previous quarterly dividend of $3.10. Equinix’s dividend payout ratio is 177.60%.

Insider Activity at Equinix

In other news, CAO Simon Miller sold 380 shares of Equinix stock in a transaction that occurred on Thursday, March 2nd. The shares were sold at an average price of $671.43, for a total value of $255,143.40. Following the transaction, the chief accounting officer now owns 5,078 shares of the company’s stock, valued at $3,409,521.54. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Equinix news, CAO Simon Miller sold 380 shares of the firm’s stock in a transaction that occurred on Thursday, March 2nd. The stock was sold at an average price of $671.43, for a total value of $255,143.40. Following the sale, the chief accounting officer now owns 5,078 shares of the company’s stock, valued at approximately $3,409,521.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Charles J. Meyers sold 7,378 shares of the company’s stock in a transaction that occurred on Wednesday, January 18th. The stock was sold at an average price of $706.45, for a total value of $5,212,188.10. Following the transaction, the chief executive officer now owns 16,599 shares of the company’s stock, valued at $11,726,363.55. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 20,971 shares of company stock valued at $14,666,488. Corporate insiders own 0.32% of the company’s stock.

Equinix Company Profile

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Equinix, Inc engages in the provision of collocation space and develops data center solutions. The firm offers secure key management, consulting, network virtualization, customer support, and managed services. It operates through the following geographical segments: Americas, Europe, Middle East & Africa and Asia-Pacific.