Allstate Corp Has $11.06 Million Position in Equinix, Inc. $EQIX

Key Points

• Allstate Corp sharply increased its Equinix stake by 161.1% in the fourth quarter, ending with 14,429 shares valued at about $11.06 million.
• Equinix reported strong quarterly results, with EPS of $10.79 easily beating estimates, while revenue rose 9.8% year over year to $2.44 billion; the company also reaffirmed upbeat FY 2026 EPS guidance.
• The company recently declared a $5.16 quarterly dividend and continues to draw positive analyst sentiment, with several firms raising targets and the stock carrying an average Moderate Buy rating.

Allstate Corp increased its stake in shares of Equinix, Inc. (NASDAQ:EQIX - Free Report) by 161.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,429 shares of the financial services provider's stock after buying an additional 8,903 shares during the quarter. Allstate Corp's holdings in Equinix were worth $11,055,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the stock. Douglas Lane & Associates LLC boosted its holdings in shares of Equinix by 3.9% in the 4th quarter. Douglas Lane & Associates LLC now owns 112,030 shares of the financial services provider's stock valued at $85,833,000 after purchasing an additional 4,241 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Equinix by 25.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,875,355 shares of the financial services provider's stock valued at $2,252,094,000 after purchasing an additional 588,967 shares in the last quarter. Chilton Capital Management LLC boosted its holdings in shares of Equinix by 5.1% in the 3rd quarter. Chilton Capital Management LLC now owns 36,908 shares of the financial services provider's stock valued at $28,908,000 after purchasing an additional 1,805 shares in the last quarter. Foresight Group Ltd Liability Partnership boosted its holdings in shares of Equinix by 10.0% in the 3rd quarter. Foresight Group Ltd Liability Partnership now owns 26,139 shares of the financial services provider's stock valued at $20,425,000 after purchasing an additional 2,378 shares in the last quarter. Finally, Penserra Capital Management LLC boosted its holdings in shares of Equinix by 29.9% in the 3rd quarter. Penserra Capital Management LLC now owns 12,761 shares of the financial services provider's stock valued at $9,994,000 after purchasing an additional 2,941 shares in the last quarter. Institutional investors and hedge funds own 94.94% of the company's stock.

Equinix Price Performance

Shares of EQIX opened at $1,079.79 on Tuesday. Equinix, Inc. has a 52 week low of $710.52 and a 52 week high of $1,128.68. The stock has a market capitalization of $106.49 billion, a price-to-earnings ratio of 74.73, a PEG ratio of 2.03 and a beta of 1.01. 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 stock has a fifty day moving average of $1,039.99 and a 200-day moving average of $897.81.

Equinix (NASDAQ:EQIX - Get Free Report) last announced its quarterly earnings results on Wednesday, April 29th. The financial services provider reported $10.79 EPS for the quarter, beating analysts' consensus estimates of $4.30 by $6.49. Equinix had a return on equity of 10.03% and a net margin of 15.07%.The company had revenue of $2.44 billion during the quarter, compared to analysts' expectations of $2.52 billion. During the same period in the prior year, the company earned $9.67 EPS. Equinix's revenue was up 9.8% compared to the same quarter last year. Equinix has set its FY 2026 guidance at 42.310-43.110 EPS. As a group, sell-side analysts anticipate that Equinix, Inc. will post 37.72 earnings per share for the current fiscal year.

Equinix Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 17th. Stockholders of record on Wednesday, May 20th will be paid a $5.16 dividend. This represents a $20.64 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date is Wednesday, May 20th. Equinix's dividend payout ratio is presently 142.84%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Scotiabank raised their target price on Equinix from $1,050.00 to $1,120.00 and gave the company a "sector perform" rating in a report on Thursday, April 30th. Raymond James Financial raised Equinix from a "market perform" rating to a "strong-buy" rating and set a $1,250.00 target price on the stock in a report on Thursday, April 30th. Sanford C. Bernstein assumed coverage on Equinix in a report on Thursday, March 5th. They issued an "outperform" rating and a $1,128.00 target price on the stock. Truist Financial set a $1,215.00 target price on Equinix in a report on Friday, May 1st. Finally, Cantor Fitzgerald raised their target price on Equinix from $1,173.00 to $1,186.00 and gave the company an "overweight" rating in a report on Friday, May 1st. Three equities research analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $1,143.60.

Insider Buying and Selling

In related news, Chairman Charles J. Meyers sold 5,224 shares of the firm's stock in a transaction on Wednesday, May 6th. The stock was sold at an average price of $1,085.23, for a total transaction of $5,669,241.52. Following the completion of the transaction, the chairman directly owned 7,370 shares of the company's stock, valued at $7,998,145.10. This trade represents a 41.48% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Adaire Fox-Martin sold 1,086 shares of the firm's stock in a transaction dated Thursday, March 12th. The shares were sold at an average price of $966.20, for a total value of $1,049,293.20. Following the completion of the sale, the chief executive officer owned 19,574 shares of the company's stock, valued at approximately $18,912,398.80. This represents a 5.26% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 11,729 shares of company stock worth $11,980,800 in the last ninety days. Insiders own 0.27% of the company's stock.

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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