New York Life Investment Management LLC Increases Stock Position in Equinix, Inc. (NASDAQ:EQIX)

New York Life Investment Management LLC raised its position in shares of Equinix, Inc. (NASDAQ:EQIX) by 48.3% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 23,471 shares of the financial services provider’s stock after buying an additional 7,649 shares during the period. New York Life Investment Management LLC’s holdings in Equinix were worth $18,903,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Aew Capital Management L P lifted its position in shares of Equinix by 0.8% in the 4th quarter. Aew Capital Management L P now owns 310,764 shares of the financial services provider’s stock worth $250,286,000 after purchasing an additional 2,503 shares during the period. Braun Stacey Associates Inc. lifted its position in Equinix by 12.5% during the 4th quarter. Braun Stacey Associates Inc. now owns 32,205 shares of the financial services provider’s stock valued at $25,938,000 after acquiring an additional 3,591 shares during the period. Nordea Investment Management AB lifted its position in Equinix by 9.8% during the 4th quarter. Nordea Investment Management AB now owns 135,495 shares of the financial services provider’s stock valued at $109,459,000 after acquiring an additional 12,129 shares during the period. Prime Capital Investment Advisors LLC lifted its position in Equinix by 127.8% during the 4th quarter. Prime Capital Investment Advisors LLC now owns 1,403 shares of the financial services provider’s stock valued at $1,130,000 after acquiring an additional 787 shares during the period. Finally, TIAA Trust National Association lifted its position in Equinix by 126.8% during the 4th quarter. TIAA Trust National Association now owns 4,243 shares of the financial services provider’s stock valued at $3,417,000 after acquiring an additional 2,372 shares during the period. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Morgan Stanley lowered their price target on shares of Equinix from $767.00 to $762.00 and set an “equal weight” rating for the company in a research report on Thursday, March 28th. Stifel Nicolaus reissued a “buy” rating and set a $960.00 price target on shares of Equinix in a research report on Wednesday, March 13th. Wells Fargo & Company lifted their price target on shares of Equinix from $800.00 to $825.00 and gave the company an “equal weight” rating in a research report on Thursday, February 15th. Truist Financial raised their price objective on shares of Equinix from $915.00 to $950.00 and gave the company a “buy” rating in a research note on Monday, March 18th. Finally, BMO Capital Markets raised their price objective on shares of Equinix from $910.00 to $925.00 and gave the company an “outperform” rating in a research note on Thursday, February 15th. Seven equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $862.50.

Insider Buying and Selling at Equinix

In other Equinix news, Chairman Camp Peter Van sold 122 shares of the company’s stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $831.12, for a total transaction of $101,396.64. Following the completion of the sale, the chairman now directly owns 7,968 shares of the company’s stock, valued at $6,622,364.16. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Equinix news, CFO Keith D. Taylor sold 1,164 shares of the company’s stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $832.98, for a total value of $969,588.72. Following the completion of the transaction, the chief financial officer now directly owns 23,187 shares in the company, valued at $19,314,307.26. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Chairman Camp Peter Van sold 122 shares of the company’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $831.12, for a total transaction of $101,396.64. Following the completion of the transaction, the chairman now owns 7,968 shares of the company’s stock, valued at $6,622,364.16. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 4,585 shares of company stock valued at $3,818,268. Insiders own 0.27% of the company’s stock.

Equinix Stock Down 2.2 %

EQIX opened at $695.33 on Thursday. Equinix, Inc. has a twelve month low of $672.88 and a twelve month high of $914.93. The stock has a market capitalization of $65.79 billion, a price-to-earnings ratio of 67.44, a PEG ratio of 1.83 and a beta of 0.62. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 1.19. The firm has a 50 day moving average price of $814.64 and a 200-day moving average price of $802.31.

Equinix Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 20th. Shareholders of record on Wednesday, February 28th were issued a dividend of $4.26 per share. The ex-dividend date was Tuesday, February 27th. This represents a $17.04 dividend on an annualized basis and a yield of 2.45%. Equinix’s dividend payout ratio is currently 165.28%.

About Equinix

Equinix (Nasdaq: EQIX) is the world's digital infrastructure company . Digital leaders harness Equinix's trusted platform to bring together and interconnect foundational infrastructure at software speed. Equinix enables organizations to access all the right places, partners and possibilities to scale with agility, speed the launch of digital services, deliver world-class experiences and multiply their value, while supporting their sustainability goals.