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

Mutual of America Capital Management LLC lowered its stake in Equinix, Inc. (NASDAQ:EQIX) by 9.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 11,692 shares of the financial services provider’s stock after selling 1,177 shares during the period. Mutual of America Capital Management LLC’s holdings in Equinix were worth $10,378,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in EQIX. Intech Investment Management LLC lifted its position in Equinix by 151.0% during the 1st quarter. Intech Investment Management LLC now owns 1,634 shares of the financial services provider’s stock worth $1,349,000 after acquiring an additional 983 shares during the period. Ontario Teachers Pension Plan Board purchased a new stake in Equinix in the first quarter valued at approximately $237,000. Edgestream Partners L.P. increased its holdings in Equinix by 191.8% in the 1st quarter. Edgestream Partners L.P. now owns 1,360 shares of the financial services provider’s stock worth $1,122,000 after buying an additional 894 shares during the period. O Shaughnessy Asset Management LLC increased its holdings in Equinix by 13.2% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 6,793 shares of the financial services provider’s stock worth $5,607,000 after buying an additional 793 shares during the period. Finally, Bessemer Group Inc. raised its position in Equinix by 159.4% during the 1st quarter. Bessemer Group Inc. now owns 2,246 shares of the financial services provider’s stock worth $1,854,000 after buying an additional 1,380 shares during the last quarter. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP Raouf Abdel sold 1,022 shares of the stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $923.56, for a total value of $943,878.32. Following the completion of the sale, the executive vice president now directly owns 4,893 shares in the company, valued at $4,518,979.08. This represents a 17.28 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Jonathan Lin sold 93 shares of the business’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $820.99, for a total transaction of $76,352.07. Following the transaction, the executive vice president now owns 7,141 shares in the company, valued at $5,862,689.59. The trade was a 1.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 13,654 shares of company stock worth $11,577,656 over the last quarter. 0.27% of the stock is currently owned by corporate insiders.

Equinix Stock Down 0.1 %

EQIX stock opened at $897.37 on Monday. The stock has a market capitalization of $86.59 billion, a P/E ratio of 80.92, a P/E/G ratio of 2.25 and a beta of 0.71. Equinix, Inc. has a 52 week low of $684.14 and a 52 week high of $943.02. The firm has a 50-day simple moving average of $885.56 and a 200-day simple moving average of $818.53. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 1.12.

Equinix Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Wednesday, November 13th will be issued a dividend of $4.26 per share. The ex-dividend date is Wednesday, November 13th. This represents a $17.04 dividend on an annualized basis and a dividend yield of 1.90%. Equinix’s payout ratio is currently 153.65%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Evercore ISI increased their price objective on shares of Equinix from $945.00 to $975.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 23rd. Truist Financial increased their price target on Equinix from $915.00 to $935.00 and gave the stock a “buy” rating in a research report on Wednesday, August 21st. TD Cowen boosted their price objective on Equinix from $865.00 to $984.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Deutsche Bank Aktiengesellschaft upped their target price on Equinix from $880.00 to $910.00 and gave the stock a “buy” rating in a research note on Tuesday, August 13th. Finally, Mizuho lifted their price target on Equinix from $873.00 to $971.00 and gave the company an “outperform” rating in a research report on Thursday, September 12th. Five research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $944.63.

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.