1,018 Shares in Equinix, Inc. $EQIX Bought by Clearstead Trust LLC

Key Points

• Clearstead Trust LLC purchased 1,018 Equinix shares worth approximately $1.06 million in the second quarter. Institutional investors collectively own 94.94% of EQIX.
• Analysts maintain a positive outlook, with Equinix receiving a “Moderate Buy” consensus rating and an average price target of $1,202.20.
• Equinix reported quarterly revenue of $2.62 billion, up 16.4% year over year, and exceeded analyst earnings expectations. The company also announced a quarterly dividend of $5.16 per share, representing a 1.9% annualized yield.

Clearstead Trust LLC purchased a new stake in Equinix, Inc. (NASDAQ:EQIX - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 1,018 shares of the financial services provider's stock, valued at approximately $1,061,000.

Several other large investors have also bought and sold shares of EQIX. Avion Wealth grew its stake in shares of Equinix by 73.3% in the 1st quarter. Avion Wealth now owns 26 shares of the financial services provider's stock worth $25,000 after acquiring an additional 11 shares in the last quarter. Elevation Wealth Partners LLC lifted its position in shares of Equinix by 166.7% during the second quarter. Elevation Wealth Partners LLC now owns 24 shares of the financial services provider's stock valued at $25,000 after purchasing an additional 15 shares in the last quarter. Kemnay Advisory Services Inc. bought a new position in shares of Equinix during the fourth quarter valued at about $30,000. Physician Wealth Advisors Inc. boosted its holdings in Equinix by 266.7% during the first 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 last quarter. Finally, WPG Advisers LLC boosted its holdings in Equinix by 51.7% during the fourth 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 last quarter. 94.94% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have commented on EQIX. HSBC reiterated a "buy" rating and issued a $1,400.00 price objective on shares of Equinix in a research note on Friday. The Goldman Sachs Group boosted their target price on Equinix from $894.00 to $1,015.00 and gave the stock a "neutral" rating in a research note on Thursday, April 30th. Stifel Nicolaus upped their target price on Equinix from $1,250.00 to $1,265.00 and gave the company a "buy" rating in a report on Thursday, July 30th. BTIG Research assumed coverage on Equinix in a research report on Friday, July 10th. They set a "buy" rating and a $1,210.00 price target for the company. Finally, Guggenheim reiterated a "buy" rating and set a $1,235.00 price target on shares of Equinix in a report on Wednesday, May 20th. Two analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $1,202.20.

Equinix Trading Up 2.6%

Shares of EQIX opened at $1,102.10 on Friday. Equinix, Inc. has a fifty-two week low of $720.62 and a fifty-two week high of $1,128.68. The business has a 50-day moving average of $1,049.70 and a 200 day moving average of $1,013.19. The firm has a market cap of $108.75 billion, a P/E ratio of 70.97, a price-to-earnings-growth ratio of 1.56 and a beta of 0.99. The company has a debt-to-equity ratio of 1.44, a quick ratio of 1.13 and a current ratio of 1.13.

Equinix (NASDAQ:EQIX - Get Free Report) last released its quarterly earnings data on Wednesday, July 29th. The financial services provider reported $11.78 EPS for the quarter, beating the consensus estimate of $4.73 by $7.05. Equinix had a net margin of 15.64% and a return on equity of 10.76%. The business had revenue of $2.62 billion for the quarter, compared to the consensus estimate of $2.59 billion. During the same period in the prior year, the firm earned $9.91 earnings per share. The company's revenue was up 16.4% compared to the same quarter last year. Equinix has set its FY 2026 guidance at 42.690-43.290 EPS. As a group, research analysts forecast that Equinix, Inc. will post 38.23 EPS for the current year.

Equinix Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 16th. Shareholders of record on Wednesday, August 19th will be issued a dividend of $5.16 per share. The ex-dividend date of this dividend is Wednesday, August 19th. This represents a $20.64 dividend on an annualized basis and a yield of 1.9%. Equinix's payout ratio is presently 132.90%.

Insiders Place Their Bets

In related news, EVP Raouf Abdel sold 2,040 shares of the stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $1,083.47, for a total value of $2,210,278.80. Following the sale, the executive vice president owned 5,728 shares in the company, valued at approximately $6,206,116.16. This trade represents a 26.26% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Christopher B. Paisley sold 4,000 shares of the firm's stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $1,019.28, for a total transaction of $4,077,120.00. Following the sale, the director owned 13,859 shares in the company, valued at approximately $14,126,201.52. This trade represents a 22.40% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 9,891 shares of company stock worth $10,430,452 over the last 90 days. Corporate insiders own 0.27% of the company's stock.

Equinix 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source