New York Life Investment Management LLC Has $18.90 Million Stock Position in Equinix, Inc. (NASDAQ:EQIX)

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

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Valley National Advisers Inc. lifted its position in shares of Equinix by 260.0% in the 4th quarter. Valley National Advisers Inc. now owns 36 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 26 shares during the period. Providence Capital Advisors LLC bought a new stake in shares of Equinix in the 3rd quarter worth approximately $29,000. Criterion Capital Advisors LLC bought a new stake in shares of Equinix in the 4th quarter worth approximately $32,000. Operose Advisors LLC bought a new stake in shares of Equinix in the 3rd quarter worth approximately $36,000. Finally, Asset Dedication LLC lifted its position in shares of Equinix by 92.6% in the 3rd quarter. Asset Dedication LLC now owns 52 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 25 shares during the period. Institutional investors and hedge funds own 94.94% of the company’s stock.

Insider Buying and Selling

In related news, Chairman Camp Peter Van sold 122 shares of Equinix stock in a transaction 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 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 legal filing with the SEC, which can be accessed through the SEC website. In other Equinix news, Chairman Camp Peter Van sold 122 shares of the business’s stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $831.12, for a total value of $101,396.64. Following the completion of the transaction, the chairman now directly owns 7,968 shares of the company’s stock, valued at $6,622,364.16. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Scott Crenshaw sold 460 shares of the business’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $832.97, for a total value of $383,166.20. Following the completion of the transaction, the executive vice president now directly owns 1,242 shares of the company’s stock, valued at $1,034,548.74. The disclosure for this sale can be found here. Insiders sold a total of 4,585 shares of company stock valued at $3,818,268 over the last three months. Company insiders own 0.27% of the company’s stock.

Equinix Stock Down 2.2 %

NASDAQ EQIX opened at $695.33 on Thursday. The stock has a fifty day moving average of $814.64 and a 200-day moving average of $802.31. The stock has a market capitalization of $65.79 billion, a P/E ratio of 67.44, a price-to-earnings-growth ratio of 1.83 and a beta of 0.62. Equinix, Inc. has a 52 week low of $672.88 and a 52 week high of $914.93. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.13 and a current ratio of 1.13.

Equinix Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 20th. Investors of record on Wednesday, February 28th were paid 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 dividend yield of 2.45%. Equinix’s dividend payout ratio (DPR) is presently 165.28%.

Analysts Set New Price Targets

A number of analysts have commented on EQIX shares. Royal Bank of Canada raised their price objective on Equinix from $855.00 to $950.00 and gave the stock an “outperform” rating in a research report on Thursday, February 29th. HSBC downgraded Equinix from a “buy” rating to a “hold” rating and set a $900.00 target price for the company. in a research report on Wednesday, March 20th. Wells Fargo & Company raised their target price on Equinix from $800.00 to $825.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 15th. Barclays cut their target price on Equinix from $818.00 to $669.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 17th. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $960.00 price objective on shares of Equinix in a research report on Wednesday, March 13th. Seven analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $862.50.

Equinix Profile

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.