New York Life Investment Management LLC Purchases 257 Shares of Equinix, Inc. $EQIX

New York Life Investment Management LLC increased its position in Equinix, Inc. (NASDAQ:EQIX) by 1.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,632 shares of the financial services provider’s stock after acquiring an additional 257 shares during the quarter. New York Life Investment Management LLC’s holdings in Equinix were worth $11,639,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in shares of Equinix by 1.9% in the first quarter. Vanguard Group Inc. now owns 12,906,820 shares of the financial services provider’s stock worth $10,523,576,000 after purchasing an additional 242,121 shares during the period. Valeo Financial Advisors LLC increased its position in Equinix by 298,148.6% in the 2nd quarter. Valeo Financial Advisors LLC now owns 8,157,100 shares of the financial services provider’s stock worth $6,488,728,000 after buying an additional 8,154,365 shares during the period. JPMorgan Chase & Co. increased its position in Equinix by 22.5% in the 1st quarter. JPMorgan Chase & Co. now owns 1,590,568 shares of the financial services provider’s stock worth $1,296,871,000 after buying an additional 291,753 shares during the period. Northern Trust Corp increased its position in Equinix by 2.7% in the 1st quarter. Northern Trust Corp now owns 1,524,515 shares of the financial services provider’s stock worth $1,243,013,000 after buying an additional 40,734 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in Equinix by 1.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,333,635 shares of the financial services provider’s stock worth $1,087,334,000 after buying an additional 25,290 shares during the period. Institutional investors own 94.94% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. The Goldman Sachs Group dropped their target price on shares of Equinix from $1,020.00 to $880.00 and set a “buy” rating on the stock in a research report on Wednesday, July 2nd. Dbs Bank upgraded Equinix to a “moderate buy” rating in a research report on Wednesday, August 6th. Cfra Research cut Equinix from a “moderate buy” rating to a “hold” rating in a research report on Thursday, July 31st. UBS Group lowered their price target on shares of Equinix from $1,035.00 to $950.00 and set a “buy” rating on the stock in a report on Friday, July 11th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Equinix in a report on Wednesday, October 8th. Five equities research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $957.38.

Insider Activity

In other news, Director Christopher B. Paisley sold 75 shares of the company’s stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $781.50, for a total value of $58,612.50. Following the sale, the director owned 17,832 shares of the company’s stock, valued at approximately $13,935,708. This represents a 0.42% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Raouf Abdel sold 404 shares of the company’s stock in a transaction dated Tuesday, September 9th. The stock was sold at an average price of $771.11, for a total transaction of $311,528.44. Following the completion of the sale, the executive vice president directly owned 6,378 shares in the company, valued at approximately $4,918,139.58. The trade was a 5.96% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.27% of the stock is currently owned by corporate insiders.

Equinix Trading Down 3.2%

EQIX stock opened at $816.13 on Wednesday. The business’s 50 day moving average is $793.70 and its 200-day moving average is $815.73. Equinix, Inc. has a 1-year low of $701.41 and a 1-year high of $994.03. The firm has a market cap of $79.87 billion, a P/E ratio of 79.93, a P/E/G ratio of 1.46 and a beta of 0.92. The company has a current ratio of 1.54, a quick ratio of 1.54 and a debt-to-equity ratio of 1.29.

Equinix (NASDAQ:EQIX) last announced its quarterly earnings results on Wednesday, July 30th. The financial services provider reported $9.91 earnings per share for the quarter, beating analysts’ consensus estimates of $3.49 by $6.42. Equinix had a return on equity of 7.22% and a net margin of 11.11%.The firm had revenue of $2.26 billion for the quarter, compared to analysts’ expectations of $2.26 billion. During the same period in the prior year, the business posted $9.22 earnings per share. The business’s revenue was up 4.5% compared to the same quarter last year. Equities analysts anticipate that Equinix, Inc. will post 33.1 earnings per share for the current fiscal year.

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.