Perigon Wealth Management LLC acquired a new position in shares of Equinix, Inc. (NASDAQ:EQIX - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 13,921 shares of the financial services provider's stock, valued at approximately $14,512,000.
Several other hedge funds also recently made changes to their positions in the company. Avion Wealth boosted its stake in Equinix by 73.3% during the 1st quarter. Avion Wealth now owns 26 shares of the financial services provider's stock worth $25,000 after purchasing an additional 11 shares during the period. Elevation Wealth Partners LLC increased its holdings in shares of Equinix by 166.7% in 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 during the period. Kemnay Advisory Services Inc. acquired a new stake in shares of Equinix during the fourth quarter worth $30,000. Physician Wealth Advisors Inc. raised its position in Equinix by 266.7% during the 1st quarter. Physician Wealth Advisors Inc. now owns 33 shares of the financial services provider's stock worth $32,000 after buying an additional 24 shares during the last quarter. Finally, WPG Advisers LLC lifted its stake in shares of Equinix by 51.7% in the 4th quarter. WPG Advisers LLC now owns 44 shares of the financial services provider's stock worth $34,000 after acquiring an additional 15 shares during the period. Hedge funds and other institutional investors own 94.94% of the company's stock.
Equinix Stock Down 0.4%
EQIX opened at $1,097.61 on Tuesday. Equinix, Inc. has a 1 year low of $720.62 and a 1 year high of $1,128.68. The firm has a 50 day moving average price of $1,050.40 and a 200 day moving average price of $1,016.68. 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 cap of $108.30 billion, a PE ratio of 70.68, a price-to-earnings-growth ratio of 1.56 and a beta of 0.99.
Equinix (NASDAQ:EQIX - Get Free Report) last issued its quarterly earnings data on Wednesday, July 29th. The financial services provider reported $11.78 EPS for the quarter, topping analysts' consensus estimates of $4.73 by $7.05. The company had revenue of $2.62 billion for the quarter, compared to analysts' expectations of $2.59 billion. Equinix had a return on equity of 10.76% and a net margin of 15.64%.The firm's quarterly revenue was up 16.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $9.91 earnings per share. Equinix has set its FY 2026 guidance at 42.690-43.290 EPS. Sell-side analysts expect that Equinix, Inc. will post 38.23 earnings per share for the current year.
Equinix Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 16th. Shareholders of record on Wednesday, August 19th will be issued a $5.16 dividend. The ex-dividend date 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 currently 132.90%.
Insider Activity
In other news, EVP Raouf Abdel sold 2,040 shares of Equinix stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $1,083.47, for a total transaction of $2,210,278.80. Following the sale, the executive vice president directly owned 5,728 shares of the company's stock, valued at approximately $6,206,116.16. The trade was a 26.26% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Brandi Galvin Morandi sold 3,726 shares of the stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $1,076.36, for a total value of $4,010,517.36. Following the completion of the transaction, the insider directly owned 6,132 shares of the company's stock, valued at $6,600,239.52. This represents a 37.80% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 9,766 shares of company stock worth $10,297,916 over the last ninety days. Corporate insiders own 0.27% of the company's stock.
Wall Street Analyst Weigh In
Several analysts have recently commented on the company. Truist Financial raised their price target on Equinix from $1,215.00 to $1,220.00 and gave the company a "buy" rating in a report on Friday, July 31st. Citigroup restated a "market outperform" rating on shares of Equinix in a research report on Tuesday, August 4th. HSBC reiterated a "buy" rating and issued a $1,400.00 price target on shares of Equinix in a report on Friday. Raymond James Financial upgraded shares of Equinix from a "market perform" rating to a "strong-buy" rating and set a $1,250.00 target price on the stock in a research report on Thursday, April 30th. Finally, Barclays boosted their price target on Equinix from $1,109.00 to $1,130.00 and gave the stock an "equal weight" rating in a research note on Wednesday, July 1st. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat.com, Equinix currently has an average rating of "Moderate Buy" and an average target price of $1,202.20.
Read Our Latest Report on Equinix
Equinix Company Profile
(
Free Report)
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.
Further Reading
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