Equinix, Inc. (NASDAQ:EQIX – Get Free Report) saw some unusual options trading on Tuesday. Traders acquired 5,756 put options on the company. This is an increase of approximately 656% compared to the typical daily volume of 761 put options.
Equinix Stock Up 2.8%
NASDAQ:EQIX traded up $26.74 during trading hours on Tuesday, reaching $994.39. The company’s stock had a trading volume of 382,469 shares, compared to its average volume of 586,121. The stock has a 50 day moving average price of $1,030.66 and a two-hundred day moving average price of $1,002.43. The company has a debt-to-equity ratio of 1.44, a quick ratio of 1.13 and a current ratio of 1.13. The company has a market capitalization of $98.12 billion, a P/E ratio of 64.04, a price-to-earnings-growth ratio of 1.36 and a beta of 0.98. Equinix has a 12 month low of $720.62 and a 12 month high of $1,128.68.
Equinix (NASDAQ:EQIX – Get Free Report) last announced its earnings results on Wednesday, July 29th. The financial services provider reported $11.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.73 by $7.05. Equinix had a return on equity of 10.76% and a net margin of 15.64%. The business had revenue of $2.62 billion for the quarter, compared to analysts’ expectations of $2.59 billion. During the same quarter last year, the firm earned $9.91 EPS. The business’s revenue for the quarter was up 16.4% on a year-over-year basis. Equinix has set its FY 2026 guidance at 42.690-43.290 EPS. Equities analysts predict that Equinix will post 38.23 EPS for the current fiscal year.
Equinix Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Wednesday, September 16th. Shareholders of record on Wednesday, August 19th were paid a $5.16 dividend. This represents a $20.64 annualized dividend and a yield of 2.1%. The ex-dividend date was Wednesday, August 19th. Equinix’s payout ratio is 132.90%.
Wall Street Analyst Weigh In
Several research firms have recently commented on EQIX. Canadian Imperial Bank of Commerce initiated coverage on Equinix in a research note on Tuesday, October 20th. They issued an “outperform” rating and a $1,200.00 price objective for the company. BNP Paribas Exane dropped their price target on Equinix from $1,222.00 to $1,219.00 and set an “outperform” rating for the company in a research note on Thursday, July 30th. Evercore restated an “outperform” rating and issued a $1,270.00 target price (up from $1,240.00) on shares of Equinix in a report on Tuesday, August 18th. Sanford C. Bernstein increased their target price on shares of Equinix from $1,222.00 to $1,270.00 and gave the company an “outperform” rating in a research note on Thursday, July 30th. Finally, Royal Bank Of Canada boosted their target price on shares of Equinix from $1,125.00 to $1,225.00 and gave the company an “outperform” rating in a research note on Wednesday, August 5th. Two research analysts have rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $1,215.68.
Check Out Our Latest Analysis on Equinix
Insiders Place Their Bets
In other news, insider Kurt Pletcher sold 135 shares of the company’s stock in a transaction dated Thursday, August 20th. The shares were sold at an average price of $1,075.50, for a total transaction of $145,192.50. Following the completion of the sale, the insider owned 4,077 shares of the company’s stock, valued at $4,384,813.50. This represents a 3.21% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Michael Paladin sold 307 shares of the stock in a transaction that occurred on Friday, September 4th. The stock was sold at an average price of $1,035.01, for a total transaction of $317,748.07. Following the completion of the transaction, the insider owned 2,450 shares in the company, valued at $2,535,774.50. This trade represents a 11.14% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 4,770 shares of company stock valued at $4,884,197. Insiders own 0.27% of the company’s stock.
Institutional Trading of Equinix
Hedge funds have recently modified their holdings of the company. BlackRock Inc. bought a new stake in shares of Equinix in the 2nd quarter valued at about $11,930,074,000. Principal Financial Group Inc. raised its stake in shares of Equinix by 1.4% during the 1st quarter. Principal Financial Group Inc. now owns 1,980,497 shares of the financial services provider’s stock worth $1,941,377,000 after acquiring an additional 27,643 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Equinix by 26,831.6% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,239,122 shares of the financial services provider’s stock valued at $1,291,648,000 after acquiring an additional 1,234,521 shares during the last quarter. Legal & General Group Plc acquired a new stake in Equinix in the second quarter valued at approximately $1,181,260,000. Finally, Canada Pension Plan Investment Board purchased a new position in Equinix in the second quarter worth $1,163,662,000. 94.94% of the stock is owned by hedge funds and other institutional investors.
About Equinix
Equinix, Inc is a global digital infrastructure company that operates data centers where businesses, cloud providers, telecommunications carriers and other organizations can securely house and connect their information technology systems. Its International Business Exchange (IBX) data centers provide colocation services, allowing customers to place equipment in highly connected facilities without building and operating their own sites.
The company also provides interconnection and networking services, including Equinix Fabric, which enables customers to establish virtual connections among data centers, cloud platforms, networks and business partners.
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