New York State Common Retirement Fund Reduces Stock Position in Equinix, Inc. $EQIX

New York State Common Retirement Fund cut its holdings in Equinix, Inc. (NASDAQ:EQIX) by 6.3% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 118,195 shares of the financial services provider’s stock after selling 7,960 shares during the period. New York State Common Retirement Fund’s holdings in Equinix were worth $92,575,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in EQIX. Campbell & CO Investment Adviser LLC increased its position in Equinix by 21.1% during the second quarter. Campbell & CO Investment Adviser LLC now owns 384 shares of the financial services provider’s stock valued at $305,000 after acquiring an additional 67 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of Equinix by 1.4% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 544,462 shares of the financial services provider’s stock worth $426,444,000 after purchasing an additional 7,409 shares during the period. Cbre Investment Management Listed Real Assets LLC boosted its stake in shares of Equinix by 13.5% during the 2nd quarter. Cbre Investment Management Listed Real Assets LLC now owns 485,538 shares of the financial services provider’s stock worth $386,231,000 after purchasing an additional 57,630 shares during the period. Nordea Investment Management AB grew its holdings in Equinix by 7.3% during the 3rd quarter. Nordea Investment Management AB now owns 483,483 shares of the financial services provider’s stock valued at $376,193,000 after purchasing an additional 32,790 shares during the last quarter. Finally, Chilton Capital Management LLC raised its position in Equinix by 5.1% in the 3rd quarter. Chilton Capital Management LLC now owns 36,908 shares of the financial services provider’s stock worth $28,908,000 after purchasing an additional 1,805 shares during the period. Institutional investors own 94.94% of the company’s stock.

Equinix Stock Up 1.2%

NASDAQ:EQIX 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. Equinix, Inc. has a 1-year low of $701.41 and a 1-year high of $953.41. The company has a 50-day moving average of $768.51 and a 200 day moving average of $784.26. The firm has a market cap of $81.11 billion, a PE ratio of 75.65, a price-to-earnings-growth 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 EPS for the quarter, beating analysts’ consensus estimates of $9.27 by $0.56. Equinix had a net margin of 11.82% and a return on equity of 7.70%. The business had revenue of $2.32 billion for the quarter, compared to the consensus estimate of $2.33 billion. During the same quarter last year, the firm posted $9.05 EPS. The company’s revenue for the quarter was up 5.2% on a year-over-year basis. As a group, research analysts anticipate that Equinix, Inc. will post 33.1 EPS for the current fiscal year.

Insider Buying and Selling

In other Equinix news, EVP Raouf Abdel sold 927 shares of the company’s stock in a transaction on Friday, January 16th. The stock was sold at an average price of $801.78, for a total transaction of $743,250.06. Following the completion of the sale, the executive vice president owned 7,337 shares in the company, valued at $5,882,659.86. This represents a 11.22% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Charles J. Meyers sold 5,087 shares of the stock in a transaction on Monday, November 17th. The shares were sold at an average price of $778.47, for a total value of $3,960,076.89. Following the sale, the chairman directly owned 10,426 shares in the company, valued at $8,116,328.22. This trade represents a 32.79% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 19,590 shares of company stock valued at $15,366,046 over the last ninety days. Company insiders own 0.27% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on EQIX shares. JPMorgan Chase & Co. increased 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. UBS Group set a $959.00 target price on Equinix in a research note on Wednesday, January 14th. Wall Street Zen downgraded Equinix from a “hold” rating to a “sell” rating in a research report on Saturday, January 10th. HSBC set a $1,050.00 price target on shares of Equinix and gave the stock a “buy” rating in a report on Thursday, January 15th. Finally, Citigroup reiterated a “buy” rating on shares of Equinix in a report on Thursday, December 11th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, Equinix has an average rating of “Moderate Buy” and a consensus price target of $959.64.

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.