Adelante Capital Management LLC bought a new stake in Equinix, Inc. (NASDAQ:EQIX - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm bought 123,901 shares of the financial services provider's stock, valued at approximately $129,154,000. Equinix accounts for about 8.5% of Adelante Capital Management LLC's holdings, making the stock its 3rd biggest holding. Adelante Capital Management LLC owned about 0.13% of Equinix at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in shares of Equinix by 6.3% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 52,265 shares of the financial services provider's stock worth $40,043,000 after purchasing an additional 3,108 shares in the last quarter. Legal & General Group Plc purchased a new position in Equinix in the 2nd quarter worth approximately $1,181,260,000. Northwestern Mutual Wealth Management Co. lifted its stake in Equinix by 5,149.9% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 128,097 shares of the financial services provider's stock worth $98,143,000 after purchasing an additional 125,657 shares in the last quarter. Generali Asset Management SPA SGR boosted its stake in Equinix by 17.8% during the fourth quarter. Generali Asset Management SPA SGR now owns 9,772 shares of the financial services provider's stock valued at $7,487,000 after buying an additional 1,478 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. grew its holdings in shares of Equinix by 3.4% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 180,884 shares of the financial services provider's stock valued at $138,586,000 after purchasing an additional 5,991 shares in the last quarter. 94.94% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
EQIX has been the topic of several analyst reports. Raymond James Financial raised Equinix from a "market perform" rating to a "strong-buy" rating and set a $1,250.00 price objective on the stock in a research note on Thursday, April 30th. Evercore restated an "outperform" rating and issued a $1,270.00 target price on shares of Equinix in a research note on Tuesday, August 18th. Royal Bank Of Canada raised their price target on Equinix from $1,125.00 to $1,225.00 and gave the company an "outperform" rating in a research note on Wednesday, August 5th. HSBC restated a "buy" rating and issued a $1,400.00 price objective on shares of Equinix in a report on Friday, August 14th. Finally, Oppenheimer reiterated an "outperform" rating and set a $1,200.00 target price on shares of Equinix in a report on Thursday, April 30th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $1,203.40.
Check Out Our Latest Analysis on Equinix
Equinix Stock Performance
Shares of Equinix stock opened at $1,079.61 on Thursday. The company has a market capitalization of $106.53 billion, a PE ratio of 69.52, a P/E/G ratio of 1.52 and a beta of 0.99. The company has a 50-day simple moving average of $1,051.87 and a two-hundred day simple moving average of $1,029.59. 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.
Equinix (NASDAQ:EQIX - Get Free Report) last issued its quarterly earnings data on Wednesday, July 29th. The financial services provider reported $11.78 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.73 by $7.05. Equinix had a net margin of 15.64% and a return on equity of 10.76%. The firm had revenue of $2.62 billion for 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 quarterly revenue was up 16.4% compared to the same quarter last year. Equinix has set its FY 2026 guidance at 42.690-43.290 EPS. Research analysts expect that Equinix, Inc. will post 38.23 EPS for the current fiscal year.
Equinix Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 16th. Stockholders of record on Wednesday, August 19th will be issued a $5.16 dividend. This represents a $20.64 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend is Wednesday, August 19th. Equinix's dividend payout ratio is 132.90%.
Insider Transactions at Equinix
In related news, insider Brandi Galvin Morandi sold 3,726 shares of Equinix stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $1,076.36, for a total transaction of $4,010,517.36. Following the completion of 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, 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 business's 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 value of $145,192.50. Following the completion of the transaction, the insider directly owned 4,077 shares of the company's stock, valued at $4,384,813.50. The trade was a 3.21% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 7,986 shares of company stock worth $8,370,777 over the last 90 days. 0.27% of the stock is currently owned by company insiders.
About Equinix
(
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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