Conning Inc. Sells 13 Shares of Equinix, Inc. $EQIX

Conning Inc. lessened its stake in Equinix, Inc. (NASDAQ:EQIX) by 2.4% in the second quarter, HoldingsChannel reports. The firm owned 540 shares of the financial services provider’s stock after selling 13 shares during the period. Conning Inc.’s holdings in Equinix were worth $430,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the company. Truist Financial Corp grew its stake in shares of Equinix by 8.2% during the 1st quarter. Truist Financial Corp now owns 52,301 shares of the financial services provider’s stock valued at $42,643,000 after purchasing an additional 3,981 shares during the period. Elliott Investment Management L.P. bought a new stake in shares of Equinix during the 1st quarter valued at about $122,302,000. Nisa Investment Advisors LLC grew its position in Equinix by 71.7% during the first quarter. Nisa Investment Advisors LLC now owns 74,434 shares of the financial services provider’s stock valued at $60,690,000 after buying an additional 31,073 shares during the period. Gradient Investments LLC grew its position in Equinix by 19.4% during the second quarter. Gradient Investments LLC now owns 24,684 shares of the financial services provider’s stock valued at $19,635,000 after buying an additional 4,015 shares during the period. Finally, Partners Group Holding AG grew its position in shares of Equinix by 10.6% during the 1st quarter. Partners Group Holding AG now owns 51,787 shares of the financial services provider’s stock valued at $42,225,000 after acquiring an additional 4,968 shares during the period. Institutional investors own 94.94% of the company’s stock.

Equinix Trading Down 1.0%

EQIX stock opened at $800.60 on Friday. The company has a debt-to-equity ratio of 1.29, a current ratio of 1.54 and a quick ratio of 1.54. The business has a 50 day simple moving average of $782.79 and a two-hundred day simple moving average of $812.67. Equinix, Inc. has a 1-year low of $701.41 and a 1-year high of $994.03. The company has a market capitalization of $78.35 billion, a price-to-earnings ratio of 78.41, a PEG ratio of 1.38 and a beta of 0.92.

Equinix (NASDAQ:EQIX) last issued its earnings results on Wednesday, July 30th. The financial services provider reported $9.91 earnings per share for the quarter, topping analysts’ consensus estimates of $3.49 by $6.42. Equinix had a net margin of 11.11% and a return on equity of 7.22%. The firm had revenue of $2.26 billion during the quarter, compared to analyst estimates of $2.26 billion. During the same quarter in the prior year, the business earned $9.22 earnings per share. Equinix’s revenue for the quarter was up 4.5% on a year-over-year basis. Equinix has set its Q3 2025 guidance at EPS. FY 2025 guidance at 37.670-38.480 EPS. Research analysts anticipate that Equinix, Inc. will post 33.1 EPS for the current fiscal year.

Equinix Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 17th. Investors of record on Wednesday, August 20th were paid a dividend of $4.69 per share. The ex-dividend date of this dividend was Wednesday, August 20th. This represents a $18.76 dividend on an annualized basis and a yield of 2.3%. Equinix’s dividend payout ratio is presently 183.74%.

Insider Buying and Selling

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

Analyst Ratings Changes

Several research firms have issued reports on EQIX. Bank of America cut their price target on Equinix from $1,000.00 to $950.00 and set a “buy” rating for the company in a report on Thursday, June 26th. Weiss Ratings reiterated a “hold (c)” rating on shares of Equinix in a research note on Wednesday. Barclays boosted their price objective on Equinix from $798.00 to $804.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 20th. BMO Capital Markets lowered shares of Equinix from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $1,045.00 to $850.00 in a research report on Thursday, June 26th. Finally, Cowen reiterated a “buy” rating on shares of Equinix in a research report on Thursday, July 3rd. Four equities research analysts have rated the stock with a Strong Buy rating, eighteen 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 “Moderate Buy” and a consensus price target of $960.65.

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.