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

Mutual of America Capital Management LLC cut its position in shares of Equinix, Inc. (NASDAQ:EQIX) by 9.1% during the third quarter, Holdings Channel.com reports. The firm owned 11,692 shares of the financial services provider’s stock after selling 1,177 shares during the quarter. 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 also recently bought and sold shares of EQIX. Cypress Capital Group lifted its holdings in Equinix by 2.3% in the second quarter. Cypress Capital Group now owns 575 shares of the financial services provider’s stock valued at $435,000 after acquiring an additional 13 shares during the last quarter. MRA Advisory Group grew its holdings in shares of Equinix by 3.2% during the 2nd quarter. MRA Advisory Group now owns 419 shares of the financial services provider’s stock worth $317,000 after purchasing an additional 13 shares during the period. GHP Investment Advisors Inc. increased its position in shares of Equinix by 50.0% during the 3rd quarter. GHP Investment Advisors Inc. now owns 39 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 13 shares during the last quarter. Fortitude Family Office LLC raised its holdings in Equinix by 50.0% in the 3rd quarter. Fortitude Family Office LLC now owns 39 shares of the financial services provider’s stock valued at $35,000 after buying an additional 13 shares during the period. Finally, Abbrea Capital LLC lifted its position in Equinix by 5.5% in the second quarter. Abbrea Capital LLC now owns 270 shares of the financial services provider’s stock valued at $204,000 after buying an additional 14 shares during the last quarter. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. TD Cowen boosted their price target on shares of Equinix from $865.00 to $984.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Barclays boosted their target price on Equinix from $671.00 to $810.00 and gave the company an “equal weight” rating in a research report on Monday, October 28th. Hsbc Global Res upgraded Equinix from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 4th. The Goldman Sachs Group increased their target price on Equinix from $870.00 to $980.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. Finally, Mizuho lifted their target price 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 given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $944.63.

Equinix Price Performance

Equinix stock opened at $897.37 on Monday. The stock has a market cap of $86.59 billion, a P/E ratio of 80.92, a price-to-earnings-growth ratio of 2.25 and a beta of 0.71. The company has a fifty day simple moving average of $885.56 and a 200-day simple moving average of $818.53. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 1.12. Equinix, Inc. has a 12-month low of $684.14 and a 12-month high of $943.02.

Equinix Dividend Announcement

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

Insider Activity

In other Equinix news, EVP Raouf Abdel sold 1,022 shares of the company’s stock in a transaction on 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 transaction, the executive vice president now 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 transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Meredith Williamson sold 576 shares of the firm’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $824.19, for a total value of $474,733.44. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 13,654 shares of company stock worth $11,577,656. 0.27% of the stock is currently owned by 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.