ABN AMRO Bank N.V. Trims Holdings in Equinix, Inc. $EQIX

Key Points

• ABN AMRO Bank N.V. cut its Equinix stake by 8.7% in Q1, selling 18,570 shares and leaving it with 195,593 shares valued at about $193.6 million.
• Equinix’s latest quarterly earnings beat expectations, reporting $10.79 EPS versus the $4.30 consensus, even as revenue of $2.44 billion came in below estimates.
• Analysts remain generally positive on the stock, with a consensus rating of “Moderate Buy” and an average price target of $1,151.67, while the company also recently paid a $5.16 quarterly dividend.

ABN AMRO Bank N.V. lowered its stake in shares of Equinix, Inc. (NASDAQ:EQIX - Free Report) by 8.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 195,593 shares of the financial services provider's stock after selling 18,570 shares during the quarter. Equinix makes up about 2.1% of ABN AMRO Bank N.V.'s investment portfolio, making the stock its 16th largest holding. ABN AMRO Bank N.V. owned approximately 0.20% of Equinix worth $193,626,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Vanguard Group Inc. raised its stake in Equinix by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 13,398,906 shares of the financial services provider's stock valued at $10,265,706,000 after buying an additional 107,227 shares in the last quarter. Cohen & Steers Inc. grew its position in shares of Equinix by 23.3% in the 4th quarter. Cohen & Steers Inc. now owns 2,609,011 shares of the financial services provider's stock worth $1,998,978,000 after acquiring an additional 493,141 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Equinix by 1.0% in the 4th quarter. Geode Capital Management LLC now owns 2,567,830 shares of the financial services provider's stock valued at $1,959,731,000 after acquiring an additional 25,383 shares during the last quarter. Northern Trust Corp increased its holdings in shares of Equinix by 0.6% in the 4th quarter. Northern Trust Corp now owns 1,500,506 shares of the financial services provider's stock valued at $1,149,628,000 after acquiring an additional 9,614 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of Equinix during the 4th quarter valued at approximately $984,355,000. Institutional investors own 94.94% of the company's stock.

Analyst Upgrades and Downgrades

EQIX has been the topic of several research analyst reports. Barclays raised their price objective on Equinix from $1,020.00 to $1,109.00 and gave the stock an "equal weight" rating in a research note on Thursday, April 16th. Weiss Ratings cut shares of Equinix from a "buy (b-)" rating to a "hold (c+)" rating in a report on Tuesday. Wall Street Zen upgraded shares of Equinix from a "sell" rating to a "hold" rating in a research report on Saturday, May 2nd. Citigroup reaffirmed a "buy" rating on shares of Equinix in a report on Wednesday, June 3rd. Finally, Sanford C. Bernstein initiated coverage on shares of Equinix in a research report on Thursday, March 5th. They set an "outperform" rating and a $1,128.00 price objective for the company. Three equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, Equinix presently has an average rating of "Moderate Buy" and an average price target of $1,151.67.

Insiders Place Their Bets

In other news, Director Christopher B. Paisley sold 125 shares of Equinix stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $1,060.29, for a total transaction of $132,536.25. Following the sale, the director owned 17,557 shares of the company's stock, valued at approximately $18,615,511.53. The trade was a 0.71% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Chairman Charles J. Meyers sold 5,224 shares of Equinix stock in a transaction dated Wednesday, May 6th. The shares were sold at an average price of $1,085.23, for a total transaction of $5,669,241.52. Following the sale, the chairman owned 7,370 shares in the company, valued at approximately $7,998,145.10. This represents a 41.48% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 11,539 shares of company stock worth $12,455,054. 0.27% of the stock is currently owned by corporate insiders.

Equinix Stock Performance

Shares of EQIX opened at $1,091.30 on Friday. Equinix, Inc. has a 1 year low of $720.62 and a 1 year high of $1,128.68. The company has a market cap of $107.62 billion, a price-to-earnings ratio of 75.52, a price-to-earnings-growth ratio of 2.03 and a beta of 0.99. 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 firm has a fifty day moving average of $1,079.57 and a 200-day moving average of $948.17.

Equinix (NASDAQ:EQIX - Get Free Report) last released its quarterly earnings data on Wednesday, April 29th. The financial services provider reported $10.79 earnings per share for the quarter, topping analysts' consensus estimates of $4.30 by $6.49. The business had revenue of $2.44 billion for the quarter, compared to analysts' expectations of $2.52 billion. Equinix had a net margin of 15.07% and a return on equity of 10.03%. The company's revenue for the quarter was up 9.8% compared to the same quarter last year. During the same quarter last year, the company earned $9.67 EPS. Equinix has set its FY 2026 guidance at 42.310-43.110 EPS. As a group, equities analysts anticipate that Equinix, Inc. will post 38.26 earnings per share for the current year.

Equinix Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 17th. Shareholders of record on Wednesday, May 20th were paid a $5.16 dividend. The ex-dividend date was Wednesday, May 20th. This represents a $20.64 annualized dividend and a dividend yield of 1.9%. Equinix's dividend payout ratio (DPR) is presently 142.84%.

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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