Equinix, Inc. (NASDAQ:EQIX) Position Reduced by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC trimmed its stake in shares of Equinix, Inc. (NASDAQ:EQIX) by 3.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,869 shares of the financial services provider’s stock after selling 407 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Equinix were worth $9,737,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the stock. Gryphon Financial Partners LLC acquired a new stake in shares of Equinix during the fourth quarter worth $581,000. Brown Advisory Inc. acquired a new stake in shares of Equinix during the fourth quarter worth $288,000. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Equinix during the fourth quarter worth $481,000. Coldstream Capital Management Inc. increased its holdings in shares of Equinix by 36.8% in the 4th quarter. Coldstream Capital Management Inc. now owns 1,286 shares of the financial services provider’s stock worth $1,036,000 after acquiring an additional 346 shares during the period. Finally, Wells Fargo & Company MN increased its holdings in shares of Equinix by 3.5% in the 4th quarter. Wells Fargo & Company MN now owns 120,448 shares of the financial services provider’s stock worth $97,008,000 after acquiring an additional 4,037 shares during the period. 94.94% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

EQIX has been the topic of a number of analyst reports. Wells Fargo & Company raised shares of Equinix from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $825.00 to $875.00 in a report on Tuesday, July 23rd. TD Cowen increased their price objective on shares of Equinix from $859.00 to $865.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. Barclays raised their target price on shares of Equinix from $669.00 to $671.00 and gave the company an “equal weight” rating in a research note on Thursday, May 30th. Mizuho raised their target price on shares of Equinix from $873.00 to $971.00 and gave the company an “outperform” rating in a research note on Thursday, September 12th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on shares of Equinix from $880.00 to $910.00 and gave the company a “buy” rating in a research note on Tuesday, August 13th. Six research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $883.71.

Equinix Stock Performance

NASDAQ:EQIX opened at $860.95 on Thursday. Equinix, Inc. has a twelve month low of $677.80 and a twelve month high of $914.93. The company has a 50-day moving average of $817.51 and a 200-day moving average of $792.99. The firm has a market cap of $81.71 billion, a price-to-earnings ratio of 86.35, a price-to-earnings-growth ratio of 2.11 and a beta of 0.71. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 1.26.

Equinix (NASDAQ:EQIX) last announced its earnings results on Wednesday, August 7th. The financial services provider reported $3.16 EPS for the quarter, missing the consensus estimate of $7.88 by ($4.72). Equinix had a return on equity of 8.46% and a net margin of 12.24%. The firm had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.16 billion. During the same quarter in the previous year, the business earned $8.04 earnings per share. The business’s quarterly revenue was up 6.9% compared to the same quarter last year. Analysts forecast that Equinix, Inc. will post 31.01 earnings per share for the current fiscal year.

Equinix Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders of record on Wednesday, August 21st were given a $4.26 dividend. This represents a $17.04 dividend on an annualized basis and a dividend yield of 1.98%. The ex-dividend date was Wednesday, August 21st. Equinix’s dividend payout ratio (DPR) is 170.91%.

Insider Transactions at Equinix

In other news, CAO Simon Miller sold 569 shares of the stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $820.91, for a total value of $467,097.79. Following the completion of the sale, the chief accounting officer now directly owns 5,554 shares of the company’s stock, valued at $4,559,334.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CAO Simon Miller sold 569 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $820.91, for a total transaction of $467,097.79. Following the transaction, the chief accounting officer now owns 5,554 shares of the company’s stock, valued at $4,559,334.14. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Scott Crenshaw sold 1,107 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $815.60, for a total transaction of $902,869.20. Following the transaction, the executive vice president now directly owns 4 shares in the company, valued at approximately $3,262.40. The disclosure for this sale can be found here. Insiders sold 10,043 shares of company stock valued at $8,282,119 over the last three months. 0.27% of the stock is owned by corporate insiders.

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.