Allworth Financial LP Makes New $2.78 Million Investment in Equinix, Inc. $EQIX

Key Points

• Allworth Financial initiated a $2.78 million position in Equinix during the second quarter by purchasing 2,668 shares. Institutional investors collectively own 94.94% of the company.
• Equinix reported strong quarterly results, with revenue rising 16.4% year over year to $2.62 billion and EPS of $11.78, well above analysts’ $4.73 estimate.
• Analysts maintain a broadly positive outlook, with the stock rated “Moderate Buy” and an average price target of $1,203.40 versus its reported price of $1,065.39.

Allworth Financial LP purchased a new stake in shares of Equinix, Inc. (NASDAQ:EQIX - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 2,668 shares of the financial services provider's stock, valued at approximately $2,781,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Avion Wealth increased its holdings in Equinix by 73.3% in the 1st quarter. Avion Wealth now owns 26 shares of the financial services provider's stock valued at $25,000 after acquiring an additional 11 shares during the last quarter. Elevation Wealth Partners LLC lifted its stake in Equinix by 166.7% in the second quarter. Elevation Wealth Partners LLC now owns 24 shares of the financial services provider's stock worth $25,000 after purchasing an additional 15 shares during the last quarter. Kemnay Advisory Services Inc. bought a new stake in shares of Equinix in the fourth quarter valued at about $30,000. Physician Wealth Advisors Inc. lifted its stake in shares of Equinix by 266.7% during the 1st quarter. Physician Wealth Advisors Inc. now owns 33 shares of the financial services provider's stock worth $32,000 after purchasing an additional 24 shares during the last quarter. Finally, WPG Advisers LLC grew its holdings in Equinix by 51.7% in the fourth quarter. WPG Advisers LLC now owns 44 shares of the financial services provider's stock worth $34,000 after purchasing an additional 15 shares during the last quarter. 94.94% of the stock is owned by hedge funds and other institutional investors.

Equinix Trading Down 1.6%

NASDAQ EQIX opened at $1,065.39 on Friday. The company has a market capitalization of $105.12 billion, a price-to-earnings ratio of 68.60, a price-to-earnings-growth ratio of 1.54 and a beta of 0.99. Equinix, Inc. has a 12 month low of $720.62 and a 12 month high of $1,128.68. The firm's fifty day moving average price is $1,052.66 and its 200 day moving average price is $1,022.48. 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 (NASDAQ:EQIX - Get Free Report) last announced its earnings results on Wednesday, July 29th. The financial services provider reported $11.78 EPS for the quarter, beating 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 business had revenue of $2.62 billion for the quarter, compared to analysts' expectations of $2.59 billion. During the same period in the previous year, the company posted $9.91 EPS. The company's quarterly revenue was up 16.4% on a year-over-year basis. Equinix has set its FY 2026 guidance at 42.690-43.290 EPS. On average, sell-side analysts expect that Equinix, Inc. will post 38.23 earnings per share for the current fiscal year.

Equinix Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 16th. Stockholders of record on Wednesday, August 19th will be given a dividend of $5.16 per share. This represents a $20.64 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date is Wednesday, August 19th. Equinix's dividend payout ratio (DPR) is presently 132.90%.

Insider Buying and Selling at Equinix

In other news, 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 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. 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 Brandi Galvin Morandi sold 3,726 shares of the firm's stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $1,076.36, for a total value of $4,010,517.36. Following the completion of the sale, the insider directly owned 6,132 shares in the company, valued at approximately $6,600,239.52. The trade was a 37.80% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 7,986 shares of company stock worth $8,370,777. 0.27% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have recently issued reports on EQIX. Oppenheimer restated an "outperform" rating and issued a $1,200.00 price objective on shares of Equinix in a research note on Thursday, April 30th. Barclays upped their price target on Equinix from $1,109.00 to $1,130.00 and gave the stock an "equal weight" rating in a report on Wednesday, July 1st. Royal Bank Of Canada boosted their price objective on Equinix from $1,125.00 to $1,225.00 and gave the company an "outperform" rating in a research report on Wednesday, August 5th. Mizuho lifted their price objective on Equinix from $1,165.00 to $1,200.00 and gave the stock an "outperform" rating in a report on Thursday, May 7th. Finally, Raymond James Financial raised Equinix from a "market perform" rating to a "strong-buy" rating and set a $1,250.00 price target for the company in a report on Thursday, April 30th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $1,203.40.

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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