1,982 Shares in Equinix, Inc. $EQIX Purchased by Altman Advisors Inc.

Key Points

• Altman Advisors purchased 1,982 Equinix shares worth approximately $2.1 million in the second quarter, while institutional investors collectively own 94.94% of the company.
• Equinix reported strong quarterly results, with revenue rising 16.4% year over year to $2.62 billion and earnings per share of $11.78, well above the $4.73 consensus estimate.
• The company declared a quarterly dividend of $5.16 per share, equivalent to an annualized $20.64 and a 1.9% yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $1,203.40.

Altman Advisors Inc. purchased a new stake in shares of Equinix, Inc. (NASDAQ:EQIX - Free Report) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor purchased 1,982 shares of the financial services provider's stock, valued at approximately $2,066,000.

Other institutional investors have also added to or reduced their stakes in the company. BlackRock Inc. purchased a new position in Equinix during the 2nd quarter valued at $11,930,074,000. Norges Bank purchased a new position in Equinix in the 4th quarter worth about $984,355,000. Deutsche Bank AG bought a new stake in Equinix during the 2nd quarter valued at about $1,118,930,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Equinix by 408.1% during the 3rd quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,186,497 shares of the financial services provider's stock valued at $929,312,000 after buying an additional 953,001 shares in the last quarter. Finally, Bank of New York Mellon Corp purchased a new stake in Equinix in the 2nd quarter valued at about $598,815,000. Institutional investors own 94.94% of the company's stock.

Equinix Trading Up 0.5%

NASDAQ EQIX opened at $1,082.61 on Friday. Equinix, Inc. has a one year low of $720.62 and a one year high of $1,128.68. 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 capitalization of $106.82 billion, a price-to-earnings ratio of 69.71, a price-to-earnings-growth ratio of 1.53 and a beta of 0.99. The company's 50-day simple moving average is $1,052.47 and its two-hundred day simple moving average is $1,022.18.

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

Equinix Announces Dividend

The company 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 $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%.

Insiders Place Their Bets

In other Equinix news, 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 transaction of $4,010,517.36. Following the completion of the sale, the insider directly owned 6,132 shares of the company's stock, valued at approximately $6,600,239.52. This represents a 37.80% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Kurt Pletcher sold 135 shares of the firm'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 in the company, valued at $4,384,813.50. This represents a 3.21% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 7,986 shares of company stock worth $8,370,777. 0.27% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

EQIX has been the topic of a number of research reports. Barclays raised their target price on shares of Equinix from $1,109.00 to $1,130.00 and gave the stock an "equal weight" rating in a research report on Wednesday, July 1st. TD Cowen boosted their price target on Equinix from $1,143.00 to $1,166.00 and gave the company a "buy" rating in a report on Thursday, July 30th. Mizuho increased their price objective on Equinix from $1,165.00 to $1,200.00 and gave the stock an "outperform" rating in a research note on Thursday, May 7th. Guggenheim restated a "buy" rating and set a $1,235.00 price objective on shares of Equinix in a report on Wednesday, May 20th. Finally, Oppenheimer reaffirmed an "outperform" rating and set a $1,200.00 target price on shares of Equinix in a research report on Thursday, April 30th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $1,203.40.

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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