Equinix, Inc. (NASDAQ:EQIX) Shares Sold by Tiaa Fsb

Posted by Defense World Staff on Jul 4th, 2023

Tiaa Fsb lowered its position in shares of Equinix, Inc. (NASDAQ:EQIX – Free Report) by 12.7% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 586 shares of the financial services provider’s stock after selling 85 shares during the period. Tiaa Fsb’s holdings in Equinix were worth $423,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Tanglewood Legacy Advisors LLC purchased a new stake in Equinix in the fourth quarter valued at approximately $28,000. MV Capital Management Inc. raised its position in Equinix by 50.0% in the fourth quarter. MV Capital Management Inc. now owns 48 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 16 shares during the period. Massmutual Trust Co. FSB ADV raised its position in Equinix by 112.5% in the first quarter. Massmutual Trust Co. FSB ADV now owns 51 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 27 shares during the period. Accurate Wealth Management LLC purchased a new stake in Equinix in the fourth quarter valued at approximately $40,000. Finally, Heritage Wealth Management LLC raised its position in Equinix by 100.0% in the fourth quarter. Heritage Wealth Management LLC now owns 62 shares of the financial services provider’s stock valued at $41,000 after purchasing an additional 31 shares during the period. Institutional investors and hedge funds own 94.56% of the company’s stock.

Analyst Ratings Changes

EQIX has been the subject of several research reports. UBS Group boosted their price target on shares of Equinix from $765.00 to $900.00 in a research note on Thursday, June 22nd. Citigroup boosted their price target on shares of Equinix from $825.00 to $830.00 in a research note on Friday, May 5th. Truist Financial downgraded shares of Equinix from a “buy” rating to a “hold” rating and dropped their price target for the stock from $870.00 to $815.00 in a research note on Tuesday, June 27th. They noted that the move was a valuation call. Argus boosted their price target on shares of Equinix from $720.00 to $795.00 in a research note on Thursday, May 18th. Finally, StockNews.com started coverage on shares of Equinix in a research note on Thursday, May 18th. They set a “hold” rating for the company. Seven research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Equinix currently has an average rating of “Moderate Buy” and an average price target of $801.00.

Insider Buying and Selling

In other Equinix news, CFO Keith D. Taylor sold 1,000 shares of the stock in a transaction dated Friday, June 9th. The shares were sold at an average price of $753.44, for a total value of $753,440.00. Following the completion of the transaction, the chief financial officer now directly owns 23,177 shares of the company’s stock, valued at $17,462,478.88. The sale was disclosed in a filing with the SEC, which is available at this link. In other Equinix news, insider Karl Strohmeyer sold 6,665 shares of the stock in a transaction dated Friday, May 5th. The shares were sold at an average price of $735.80, for a total value of $4,904,107.00. Following the completion of the transaction, the insider now directly owns 16,582 shares of the company’s stock, valued at $12,201,035.60. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Keith D. Taylor sold 1,000 shares of the stock in a transaction dated Friday, June 9th. The shares were sold at an average price of $753.44, for a total transaction of $753,440.00. Following the completion of the transaction, the chief financial officer now directly owns 23,177 shares of the company’s stock, valued at $17,462,478.88. The disclosure for this sale can be found here. Insiders sold 18,221 shares of company stock valued at $13,488,866 over the last ninety days. Corporate insiders own 0.32% of the company’s stock.

Equinix Price Performance

Shares of NASDAQ:EQIX opened at $783.36 on Tuesday. The company has a 50-day simple moving average of $741.40 and a 200-day simple moving average of $713.90. Equinix, Inc. has a one year low of $494.89 and a one year high of $792.03. The company has a debt-to-equity ratio of 1.29, a quick ratio of 2.28 and a current ratio of 2.28. The stock has a market capitalization of $73.27 billion, a price-to-earnings ratio of 88.72, a PEG ratio of 2.01 and a beta of 0.64.

Equinix (NASDAQ:EQIX – Free Report) last posted its quarterly earnings results on Wednesday, May 3rd. The financial services provider reported $2.77 earnings per share (EPS) for the quarter, missing the consensus estimate of $7.00 by ($4.23). The firm had revenue of $2 billion for the quarter, compared to analysts’ expectations of $1.97 billion. Equinix had a return on equity of 7.20% and a net margin of 10.84%. The company’s revenue for the quarter was up 15.2% on a year-over-year basis. During the same period in the prior year, the company earned $7.16 earnings per share. On average, analysts predict that Equinix, Inc. will post 27.87 EPS for the current year.

Equinix Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 21st. Investors of record on Wednesday, May 24th were issued a dividend of $3.41 per share. The ex-dividend date was Tuesday, May 23rd. This represents a $13.64 annualized dividend and a yield of 1.74%. Equinix’s dividend payout ratio is currently 154.47%.

Equinix Company Profile

(Free Report)

Equinix (Nasdaq: EQIX) is the world's digital infrastructure company, enabling digital leaders to harness a trusted platform to bring together and interconnect the foundational infrastructure that powers their success. Equinix enables today's businesses to access all the right places, partners and possibilities they need to accelerate advantage.