1,284,790 Shares in Equinix, Inc. $EQIX Bought by Norges Bank

Key Points

• Norges Bank disclosed a new position in Equinix, buying 1,284,790 shares valued at about $984.4 million, giving it a 1.31% stake in the company.
• Equinix reported a strong quarter, with EPS of $10.79 beating expectations, while revenue came in at $2.44 billion and rose 9.8% year over year.
• The company declared a $5.16 quarterly dividend payable June 17, and analysts remain broadly positive, with a Moderate Buy consensus and an average price target of $1,143.60.

Norges Bank acquired a new position in shares of Equinix, Inc. (NASDAQ:EQIX - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 1,284,790 shares of the financial services provider's stock, valued at approximately $984,355,000. Norges Bank owned 1.31% of Equinix at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Ameriflex Group Inc. raised its stake in Equinix by 433.3% during the 3rd quarter. Ameriflex Group Inc. now owns 32 shares of the financial services provider's stock worth $25,000 after buying an additional 26 shares during the period. Princeton Global Asset Management LLC raised its stake in Equinix by 200.0% during the 4th quarter. Princeton Global Asset Management LLC now owns 42 shares of the financial services provider's stock worth $32,000 after buying an additional 28 shares during the period. WPG Advisers LLC raised its stake in Equinix by 51.7% during the 4th quarter. WPG Advisers LLC now owns 44 shares of the financial services provider's stock worth $34,000 after buying an additional 15 shares during the period. Cornerstone Planning Group LLC raised its stake in Equinix by 40.6% during the 3rd quarter. Cornerstone Planning Group LLC now owns 45 shares of the financial services provider's stock worth $37,000 after buying an additional 13 shares during the period. Finally, Activest Wealth Management raised its stake in Equinix by 81.5% during the 4th quarter. Activest Wealth Management now owns 49 shares of the financial services provider's stock worth $38,000 after buying an additional 22 shares during the period. Institutional investors and hedge funds own 94.94% of the company's stock.

Insiders Place Their Bets

In related news, insider Brandi Galvin Morandi sold 424 shares of Equinix stock in a transaction dated Wednesday, April 8th. The stock was sold at an average price of $1,020.00, for a total value of $432,480.00. Following the sale, the insider owned 9,970 shares of the company's stock, valued at approximately $10,169,400. The trade was a 4.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Christopher B. Paisley sold 125 shares of Equinix stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $1,060.29, for a total value of $132,536.25. Following the completion of the sale, the director directly owned 17,557 shares in the company, valued at approximately $18,615,511.53. This represents a 0.71% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 13,769 shares of company stock valued at $14,191,079 in the last quarter. 0.27% of the stock is currently owned by corporate insiders.

Equinix Price Performance

NASDAQ:EQIX opened at $1,068.04 on Friday. The company has a debt-to-equity ratio of 1.39, a quick ratio of 1.18 and a current ratio of 1.18. The stock's 50-day simple moving average is $1,047.60 and its 200 day simple moving average is $904.25. The company has a market cap of $105.33 billion, a P/E ratio of 73.91, a P/E/G ratio of 2.01 and a beta of 1.01. Equinix, Inc. has a 52-week low of $710.52 and a 52-week high of $1,128.68.

Equinix (NASDAQ:EQIX - Get Free Report) last released its earnings results on Wednesday, April 29th. The financial services provider reported $10.79 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.30 by $6.49. The business had revenue of $2.44 billion for the quarter, compared to the consensus estimate of $2.52 billion. Equinix had a return on equity of 10.03% and a net margin of 15.07%.Equinix's quarterly revenue was up 9.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $9.67 earnings per share. Equinix has set its FY 2026 guidance at 42.310-43.110 EPS. As a group, sell-side analysts forecast that Equinix, Inc. will post 37.72 EPS for the current fiscal year.

Equinix Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 17th. Investors of record on Wednesday, May 20th will be given a $5.16 dividend. The ex-dividend date of this dividend is Wednesday, May 20th. This represents a $20.64 dividend on an annualized basis and a dividend yield of 1.9%. Equinix's payout ratio is currently 142.84%.

Analysts Set New Price Targets

Several brokerages recently commented on EQIX. UBS Group raised their price objective on Equinix from $950.00 to $1,010.00 and gave the stock a "buy" rating in a research note on Thursday, February 12th. Stifel Nicolaus set a $1,075.00 price target on Equinix in a research note on Thursday, February 12th. Guggenheim reissued a "buy" rating and issued a $1,235.00 price target on shares of Equinix in a research note on Wednesday, May 20th. Deutsche Bank Aktiengesellschaft reissued a "buy" rating and issued a $1,207.00 price target on shares of Equinix in a research note on Tuesday, May 5th. Finally, The Goldman Sachs Group lifted their price target on Equinix from $894.00 to $1,015.00 and gave the company a "neutral" rating in a research note on Thursday, April 30th. Three investment analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and six have given a Hold rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $1,143.60.

Equinix Company 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.

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