ABN AMRO Bank N.V. Purchases New Stake in Equinix, Inc. $EQIX

Key Points

• ABN AMRO Bank acquired 105,166 Equinix shares worth approximately $109.6 million, making the data-center company 1.4% of its portfolio and its 21st-largest holding. Institutional investors collectively own 94.94% of Equinix.
• Wall Street remains bullish, with a consensus “Moderate Buy” rating and an average price target of $1,202.20. Analysts cited strong growth prospects, while Equinix recently reported revenue growth of 16.4% year over year and earnings well above estimates.
• Equinix shares opened at $1,102.10, near their 52-week high, and the company declared a quarterly dividend of $5.16 per share, or $20.64 annualized, representing a 1.9% yield. Insiders, however, sold nearly $10.4 million of stock over the past 90 days.

ABN AMRO Bank N.V. acquired a new position in shares of Equinix, Inc. (NASDAQ:EQIX - Free Report) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 105,166 shares of the financial services provider's stock, valued at approximately $109,619,000. Equinix accounts for about 1.4% of ABN AMRO Bank N.V.'s holdings, making the stock its 21st biggest position. ABN AMRO Bank N.V. owned 0.11% of Equinix at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the business. Brighton Jones LLC raised its holdings in shares of Equinix by 28.9% during the 4th quarter. Brighton Jones LLC now owns 326 shares of the financial services provider's stock valued at $307,000 after buying an additional 73 shares during the period. Integrated Wealth Concepts LLC boosted its stake in shares of Equinix by 11.5% in the first quarter. Integrated Wealth Concepts LLC now owns 522 shares of the financial services provider's stock valued at $425,000 after purchasing an additional 54 shares during the period. Empowered Funds LLC boosted its stake in shares of Equinix by 21.8% in the first quarter. Empowered Funds LLC now owns 3,050 shares of the financial services provider's stock valued at $2,487,000 after purchasing an additional 546 shares during the period. Schnieders Capital Management LLC. acquired a new stake in Equinix during the 2nd quarter valued at $231,000. Finally, Brown Advisory Inc. grew its holdings in Equinix by 2.8% during the 2nd quarter. Brown Advisory Inc. now owns 1,074 shares of the financial services provider's stock valued at $854,000 after purchasing an additional 29 shares in the last quarter. Institutional investors and hedge funds own 94.94% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Truist Financial boosted their price objective on shares of Equinix from $1,215.00 to $1,220.00 and gave the stock a "buy" rating in a report on Friday, July 31st. Mizuho raised their target price on Equinix from $1,165.00 to $1,200.00 and gave the company an "outperform" rating in a research note on Thursday, May 7th. UBS Group boosted their price target on Equinix from $1,210.00 to $1,265.00 and gave the stock a "buy" rating in a research note on Thursday, July 30th. Evercore reissued an "outperform" rating and issued a $1,240.00 price target on shares of Equinix in a report on Tuesday, April 28th. Finally, Cantor Fitzgerald raised their price objective on Equinix from $1,186.00 to $1,211.00 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-one have given a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $1,202.20.

Insider Buying and Selling at Equinix

In other news, insider Brandi Galvin Morandi sold 3,726 shares of the firm's 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 transaction, the insider directly owned 6,132 shares in the company, valued at approximately $6,600,239.52. This trade represents a 37.80% decrease in their position. The transaction was disclosed in a filing with the SEC, 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 4,000 shares of Equinix stock in a transaction dated 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 completion of the transaction, the director directly owned 13,859 shares of the company's stock, valued at $14,126,201.52. This trade represents a 22.40% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 9,891 shares of company stock worth $10,430,452 over the last 90 days. Insiders own 0.27% of the company's stock.

Equinix Price Performance

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

Equinix (NASDAQ:EQIX - Get Free Report) last released its 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. Equinix had a net margin of 15.64% and a return on equity of 10.76%. The company had revenue of $2.62 billion during the quarter, compared to the consensus estimate of $2.59 billion. During the same quarter in the previous year, the firm earned $9.91 EPS. The company's revenue was up 16.4% on a year-over-year basis. Equinix has set its FY 2026 guidance at 42.690-43.290 EPS. As a group, research analysts anticipate that Equinix, Inc. will post 38.23 earnings per share for the current fiscal year.

Equinix Announces Dividend

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 paid a dividend of $5.16 per share. The ex-dividend date is Wednesday, August 19th. This represents a $20.64 annualized dividend and a yield of 1.9%. Equinix's payout ratio is presently 132.90%.

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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