2,669 Equinix, Inc. $EQIX Shares Sold by Apollon Wealth Management LLC

Key Points

• Apollon Wealth Management reduced its Equinix stake by 23.1%, selling 2,669 shares and retaining 8,908 shares valued at approximately $9.0 million. Institutional investors own 94.94% of the company, while insiders sold 4,770 shares worth $4.88 million over the past three months.
• Wall Street remains generally bullish on Equinix, with a consensus rating of “Moderate Buy” and an average price target of $1,215.68. Recent firms maintained or initiated Buy/Outperform ratings, with targets ranging from $1,200 to $1,380.
• Equinix reported quarterly revenue of $2.62 billion, up 16.4% year over year, and EPS of $11.78, well above the $4.73 consensus estimate. The company also declared a quarterly dividend of $5.16 per share, representing an annualized yield of approximately 2.1%.

Apollon Wealth Management LLC trimmed its stake in Equinix, Inc. (NASDAQ:EQIX - Free Report) by 23.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,908 shares of the financial services provider's stock after selling 2,669 shares during the quarter. Apollon Wealth Management LLC's holdings in Equinix were worth $9,011,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also bought and sold shares of EQIX. Sigma Planning Corp boosted its holdings in shares of Equinix by 5.6% in the third quarter. Sigma Planning Corp now owns 732 shares of the financial services provider's stock worth $740,000 after acquiring an additional 39 shares during the period. BG Investment Services LLC bought a new position in Equinix in the 3rd quarter valued at $2,565,000. Simplicity Wealth LLC boosted its holdings in Equinix by 28.5% in the 3rd quarter. Simplicity Wealth LLC now owns 581 shares of the financial services provider's stock valued at $588,000 after purchasing an additional 129 shares during the period. One Wealth Capital Management LLC purchased a new position in shares of Equinix during the 3rd quarter valued at $688,000. Finally, Taylor Frigon Capital Management LLC grew its position in Equinix by 0.8% during the third quarter. Taylor Frigon Capital Management LLC now owns 2,269 shares of the financial services provider's stock worth $2,295,000 after buying an additional 19 shares in the last quarter. 94.94% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, insider Kurt Pletcher sold 135 shares of Equinix stock in a transaction that occurred on 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 sale, the insider owned 4,077 shares in the company, valued at $4,384,813.50. This trade represents a 3.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Michael Paladin sold 307 shares of the company's stock in a transaction 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 transaction, the insider owned 2,450 shares of the company's stock, valued at approximately $2,535,774.50. This represents a 11.14% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 4,770 shares of company stock valued at $4,884,197. Corporate insiders own 0.27% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Guggenheim reissued a "buy" rating and issued a $1,235.00 target price on shares of Equinix in a research note on Tuesday, October 20th. HSBC decreased their price target on shares of Equinix from $1,400.00 to $1,380.00 and set a "buy" rating on the stock in a research note on Wednesday, September 23rd. Canadian Imperial Bank of Commerce assumed coverage on shares of Equinix in a research note on Tuesday, October 20th. They set an "outperform" rating and a $1,200.00 price target on the stock. Rothschild & Co Redburn started coverage on shares of Equinix in a research note on Monday, September 21st. They issued a "buy" rating and a $1,261.00 price target for the company. Finally, JPMorgan Chase & Co. increased their price objective on Equinix from $1,200.00 to $1,300.00 and gave the company an "overweight" rating in a research note on Thursday, July 30th. Two equities 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 company. According to data from MarketBeat.com, Equinix currently has a consensus rating of "Moderate Buy" and a consensus price target of $1,215.68.

Equinix Price Performance

Shares of EQIX opened at $967.65 on Tuesday. Equinix, Inc. has a fifty-two week low of $720.62 and a fifty-two week 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 stock has a market cap of $95.48 billion, a PE ratio of 23.12, a price-to-earnings-growth ratio of 1.36 and a beta of 0.98. The firm's 50-day simple moving average is $1,030.66 and its two-hundred day simple moving average is $1,002.43.

Equinix (NASDAQ:EQIX - Get Free Report) last issued its earnings results on Wednesday, July 29th. The financial services provider reported $11.78 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analysts' expectations of $2.59 billion. During the same period in the previous year, the company earned $9.91 earnings per share. The business's revenue for the quarter was up 16.4% compared to the same quarter last year. Equinix has set its FY 2026 guidance at 42.690-43.290 EPS. Analysts anticipate that Equinix, Inc. will post 38.23 earnings per share for the current fiscal year.

Equinix Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 16th. Shareholders of record on Wednesday, August 19th were issued a dividend of $5.16 per share. The ex-dividend date of this dividend was Wednesday, August 19th. This represents a $20.64 dividend on an annualized basis and a yield of 2.1%. Equinix's dividend payout ratio (DPR) is currently 132.90%.

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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