New York State Common Retirement Fund Sells 7,960 Shares of Equinix, Inc. $EQIX

New York State Common Retirement Fund lessened its position in shares of Equinix, Inc. (NASDAQ:EQIX) by 6.3% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 118,195 shares of the financial services provider’s stock after selling 7,960 shares during the quarter. New York State Common Retirement Fund owned 0.12% of Equinix worth $92,575,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of EQIX. Quent Capital LLC increased its position in shares of Equinix by 4.2% during the 3rd quarter. Quent Capital LLC now owns 298 shares of the financial services provider’s stock valued at $233,000 after purchasing an additional 12 shares during the last quarter. Whittier Trust Co. grew its position in Equinix by 1.3% during the second quarter. Whittier Trust Co. now owns 1,040 shares of the financial services provider’s stock valued at $827,000 after buying an additional 13 shares during the period. CVA Family Office LLC increased its holdings in Equinix by 10.9% during the second quarter. CVA Family Office LLC now owns 132 shares of the financial services provider’s stock valued at $105,000 after buying an additional 13 shares during the last quarter. Flputnam Investment Management Co. raised its position in Equinix by 1.0% in the third quarter. Flputnam Investment Management Co. now owns 1,295 shares of the financial services provider’s stock worth $1,014,000 after acquiring an additional 13 shares during the period. Finally, Paragon Private Wealth Management LLC boosted its stake in shares of Equinix by 2.7% during the 3rd quarter. Paragon Private Wealth Management LLC now owns 495 shares of the financial services provider’s stock worth $388,000 after acquiring an additional 13 shares during the last quarter. 94.94% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

EQIX has been the subject of several analyst reports. Morgan Stanley initiated coverage on Equinix in a research note on Thursday, October 16th. They issued an “overweight” rating and a $950.00 price objective for the company. Wall Street Zen cut Equinix from a “hold” rating to a “sell” rating in a research report on Saturday, January 10th. Citigroup reaffirmed a “buy” rating on shares of Equinix in a research report on Thursday, December 11th. Scotiabank reduced their target price on shares of Equinix from $965.00 to $959.00 and set a “sector outperform” rating for the company in a report on Wednesday, January 14th. Finally, BMO Capital Markets raised shares of Equinix from a “market perform” rating to an “outperform” rating and set a $900.00 price target on the stock in a report on Wednesday, December 3rd. Three investment analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $959.64.

Equinix Trading Up 1.2%

Equinix stock opened at $826.05 on Friday. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.62 and a quick ratio of 1.62. The firm’s 50 day moving average price is $768.51 and its 200-day moving average price is $784.26. Equinix, Inc. has a 1 year low of $701.41 and a 1 year high of $953.41. The stock has a market cap of $81.11 billion, a P/E ratio of 75.65, a PEG ratio of 1.28 and a beta of 1.05.

Equinix (NASDAQ:EQIX) last posted its earnings results on Wednesday, October 29th. The financial services provider reported $9.83 earnings per share for the quarter, beating the consensus estimate of $9.27 by $0.56. The company had revenue of $2.32 billion during the quarter, compared to analysts’ expectations of $2.33 billion. Equinix had a net margin of 11.82% and a return on equity of 7.70%. Equinix’s quarterly revenue was up 5.2% on a year-over-year basis. During the same period last year, the company posted $9.05 earnings per share. On average, equities analysts predict that Equinix, Inc. will post 33.1 earnings per share for the current fiscal year.

Insider Activity

In other Equinix news, insider Brandi Galvin Morandi sold 1,333 shares of Equinix stock in a transaction that occurred on Friday, January 16th. The stock was sold at an average price of $804.25, for a total value of $1,072,065.25. Following the sale, the insider owned 9,551 shares of the company’s stock, valued at $7,681,391.75. The trade was a 12.25% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Keith D. Taylor sold 2,051 shares of the company’s stock in a transaction that occurred on Friday, January 16th. The stock was sold at an average price of $804.17, for a total value of $1,649,352.67. Following the sale, the chief financial officer directly owned 26,373 shares in the company, valued at $21,208,375.41. This trade represents a 7.22% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 19,590 shares of company stock valued at $15,366,046. 0.27% of the stock is owned by corporate insiders.

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.