Motley Fool Asset Management LLC boosted its position in shares of Equinix, Inc. (NASDAQ:EQIX – Free Report) by 10.0% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 21,073 shares of the financial services provider’s stock after purchasing an additional 1,918 shares during the period. Motley Fool Asset Management LLC’s holdings in Equinix were worth $16,145,000 at the end of the most recent reporting period.
Other large investors have also recently bought and sold shares of the company. Douglas Lane & Associates LLC grew its stake in Equinix by 3.9% during the fourth quarter. Douglas Lane & Associates LLC now owns 112,030 shares of the financial services provider’s stock worth $85,833,000 after buying an additional 4,241 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Equinix by 25.8% in the third quarter. JPMorgan Chase & Co. now owns 2,875,355 shares of the financial services provider’s stock worth $2,252,094,000 after acquiring an additional 588,967 shares during the last quarter. Foresight Group Ltd Liability Partnership lifted its holdings in shares of Equinix by 10.0% in the third quarter. Foresight Group Ltd Liability Partnership now owns 26,139 shares of the financial services provider’s stock worth $20,425,000 after acquiring an additional 2,378 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its holdings in shares of Equinix by 71.1% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 100,791 shares of the financial services provider’s stock worth $78,944,000 after acquiring an additional 41,887 shares during the last quarter. Finally, Caprock Group LLC bought a new position in shares of Equinix in the third quarter worth about $1,748,000. 94.94% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of research analysts have recently commented on the stock. UBS Group increased their target price on shares of Equinix from $950.00 to $1,010.00 and gave the stock a “buy” rating in a report on Thursday, February 12th. Morgan Stanley increased their target price on shares of Equinix from $1,075.00 to $1,250.00 and gave the stock an “overweight” rating in a report on Monday, April 13th. Mizuho increased their target price on shares of Equinix from $1,165.00 to $1,200.00 and gave the stock an “outperform” rating in a report on Thursday, May 7th. Sanford C. Bernstein assumed coverage on shares of Equinix in a report on Thursday, March 5th. They issued an “outperform” rating and a $1,128.00 target price for the company. Finally, Wells Fargo & Company raised 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. Three analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $1,143.60.
Insider Activity
In other Equinix news, insider Brandi Galvin Morandi sold 3,726 shares of the firm’s stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $1,076.36, for a total transaction of $4,010,517.36. Following the completion of the transaction, the insider owned 6,132 shares in the company, valued at approximately $6,600,239.52. This trade represents a 37.80% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Chairman Charles J. Meyers sold 5,224 shares of the firm’s stock in a transaction that occurred on Wednesday, May 6th. The stock was sold at an average price of $1,085.23, for a total transaction of $5,669,241.52. Following the transaction, the chairman owned 7,370 shares of the company’s stock, valued at approximately $7,998,145.10. The trade was a 41.48% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 14,779 shares of company stock worth $15,580,249. 0.27% of the stock is owned by insiders.
Equinix Stock Down 0.3%
Equinix stock opened at $1,059.84 on Wednesday. The company has a debt-to-equity ratio of 1.39, a quick ratio of 1.18 and a current ratio of 1.18. Equinix, Inc. has a 52-week low of $710.52 and a 52-week high of $1,128.68. The firm has a 50 day moving average price of $1,062.29 and a two-hundred day moving average price of $918.62. The firm has a market cap of $104.52 billion, a price-to-earnings ratio of 73.35, a PEG ratio of 2.00 and a beta of 0.99.
Equinix (NASDAQ:EQIX – Get Free Report) last released its quarterly earnings results on Wednesday, April 29th. The financial services provider reported $10.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.30 by $6.49. Equinix had a net margin of 15.07% and a return on equity of 10.03%. The firm had revenue of $2.44 billion during the quarter, compared to analyst estimates of $2.52 billion. During the same quarter last year, the business earned $9.67 EPS. The company’s revenue was up 9.8% compared to the same quarter last year. Equinix has set its FY 2026 guidance at 42.310-43.110 EPS. Equities analysts predict that Equinix, Inc. will post 37.72 EPS for the current year.
Equinix Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 17th. Shareholders of record on Wednesday, May 20th will be issued a dividend of $5.16 per share. The ex-dividend date is Wednesday, May 20th. This represents a $20.64 annualized dividend and a yield of 1.9%. Equinix’s dividend payout ratio (DPR) is presently 142.84%.
About Equinix
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.
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