California Public Employees Retirement System Sells 16,771 Shares of Equinix, Inc. $EQIX

California Public Employees Retirement System trimmed its position in Equinix, Inc. (NASDAQ:EQIX) by 8.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 188,843 shares of the financial services provider’s stock after selling 16,771 shares during the quarter. California Public Employees Retirement System owned 0.19% of Equinix worth $185,111,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Avion Wealth lifted its stake in Equinix by 73.3% in the first quarter. Avion Wealth now owns 26 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 11 shares during the period. Kemnay Advisory Services Inc. bought a new stake in shares of Equinix in the 4th quarter valued at about $30,000. Princeton Global Asset Management LLC raised its holdings in shares of Equinix by 200.0% in the 4th quarter. Princeton Global Asset Management LLC now owns 42 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 28 shares in the last quarter. Physician Wealth Advisors Inc. lifted its position in shares of Equinix by 266.7% in the 1st quarter. Physician Wealth Advisors Inc. now owns 33 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 24 shares during the period. Finally, WPG Advisers LLC lifted its position in shares of Equinix by 51.7% in the 4th quarter. WPG Advisers LLC now owns 44 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 15 shares during the period. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Insider Activity at Equinix

In other Equinix news, insider Brandi Galvin Morandi sold 3,726 shares of Equinix stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $1,076.36, for a total transaction of $4,010,517.36. Following the completion of the sale, the insider owned 6,132 shares of the company’s stock, valued at approximately $6,600,239.52. The trade was a 37.80% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Raouf Abdel sold 2,040 shares of the stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $1,083.47, for a total value of $2,210,278.80. Following the completion of the transaction, the executive vice president directly owned 5,728 shares in the company, valued at $6,206,116.16. This represents a 26.26% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 11,115 shares of company stock valued at $12,022,574 over the last three months. 0.27% of the stock is owned by corporate insiders.

Equinix Stock Performance

EQIX opened at $1,020.00 on Friday. Equinix, Inc. has a 52-week low of $720.62 and a 52-week high of $1,128.68. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 1.39. The company has a market cap of $100.59 billion, a P/E ratio of 70.59, a price-to-earnings-growth ratio of 1.89 and a beta of 0.98. The firm’s 50-day moving average price is $1,060.68 and its 200-day moving average price is $976.83.

Equinix (NASDAQ:EQIX) last released its earnings results on Wednesday, April 29th. The financial services provider reported $10.79 EPS for the quarter, topping analysts’ consensus estimates of $4.30 by $6.49. The company had revenue of $2.44 billion during the quarter, compared to analysts’ expectations of $2.52 billion. Equinix had a net margin of 15.07% and a return on equity of 10.03%. Equinix’s revenue for the quarter was up 9.8% on a year-over-year basis. During the same period last year, the business earned $9.67 EPS. Equinix has set its FY 2026 guidance at 42.310-43.110 EPS. As a group, equities analysts anticipate that Equinix, Inc. will post 38.25 EPS for the current fiscal year.

Equinix Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 17th. Stockholders of record on Wednesday, May 20th were issued a dividend of $5.16 per share. The ex-dividend date of this dividend was Wednesday, May 20th. This represents a $20.64 dividend on an annualized basis and a dividend yield of 2.0%. Equinix’s payout ratio is 142.84%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on EQIX. Wells Fargo & Company lifted their price objective on shares of Equinix from $975.00 to $1,200.00 and gave the company an “overweight” rating in a report on Tuesday, April 21st. HSBC boosted their price target on Equinix from $1,100.00 to $1,250.00 and gave the stock a “buy” rating in a research report on Monday, April 27th. TD Cowen raised their price objective on Equinix from $1,123.00 to $1,143.00 and gave the company a “buy” rating in a research report on Thursday, April 30th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $1,207.00 target price on shares of Equinix in a report on Tuesday, May 5th. Finally, The Goldman Sachs Group increased their price target on shares of Equinix from $894.00 to $1,015.00 and gave the company a “neutral” rating in a research report on Thursday, April 30th. Three investment analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Equinix has a consensus rating of “Moderate Buy” and a consensus price target of $1,155.64.

Equinix Company Profile

Equinix, Inc is a global provider of digital infrastructure and interconnection services, specializing in carrier-neutral data centers and colocation. The company operates a platform that enables enterprises, cloud and network service providers, and content companies to colocate IT infrastructure, interconnect directly with partners and providers, and access cloud on-ramps and network services in a secure, low-latency environment.

Equinix’s offerings include traditional colocation space and power, cross-connects and meet-me rooms, and a suite of connectivity and on-demand services designed for hybrid multicloud architectures.