Ameriprise Financial Inc. Has $565.76 Million Position in Equinix, Inc. $EQIX

Key Points

• Ameriprise Financial Inc. increased its stake in Equinix, Inc. by 10.5%, owning 693,893 shares valued at approximately $565.76 million as of the latest filing.
• Equinix reported earnings of $9.91 per share, significantly exceeding expectations, with a revenue of $2.26 billion, marking a 4.5% year-over-year growth.
• The firm declared a $4.69 quarterly dividend, with an annual yield of 2.4%, reflecting a high dividend payout ratio of 183.74%.

Ameriprise Financial Inc. boosted its stake in Equinix, Inc. (NASDAQ:EQIX - Free Report) by 10.5% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 693,893 shares of the financial services provider's stock after purchasing an additional 65,783 shares during the quarter. Ameriprise Financial Inc. owned about 0.71% of Equinix worth $565,758,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Cornerstone Planning Group LLC raised its stake in Equinix by 40.0% in the first quarter. Cornerstone Planning Group LLC now owns 42 shares of the financial services provider's stock valued at $34,000 after purchasing an additional 12 shares in the last quarter. Signaturefd LLC raised its stake in Equinix by 0.8% in the first quarter. Signaturefd LLC now owns 1,450 shares of the financial services provider's stock valued at $1,182,000 after purchasing an additional 12 shares in the last quarter. AE Wealth Management LLC raised its stake in Equinix by 5.1% during the first quarter. AE Wealth Management LLC now owns 248 shares of the financial services provider's stock worth $202,000 after acquiring an additional 12 shares in the last quarter. Griffin Asset Management Inc. raised its stake in Equinix by 0.7% during the first quarter. Griffin Asset Management Inc. now owns 1,771 shares of the financial services provider's stock worth $1,444,000 after acquiring an additional 13 shares in the last quarter. Finally, Sava Infond d.o.o. raised its stake in Equinix by 2.0% during the first quarter. Sava Infond d.o.o. now owns 678 shares of the financial services provider's stock worth $553,000 after acquiring an additional 13 shares in the last quarter. Institutional investors and hedge funds own 94.94% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Mizuho lowered their target price on Equinix from $1,069.00 to $900.00 and set an "outperform" rating for the company in a research note on Tuesday, July 1st. Citigroup boosted their target price on Equinix from $970.00 to $990.00 and gave the stock a "buy" rating in a research note on Monday, May 5th. JMP Securities reissued a "market outperform" rating and set a $1,200.00 target price on shares of Equinix in a research note on Tuesday, July 22nd. Wells Fargo & Company lowered their target price on Equinix from $1,065.00 to $925.00 and set an "overweight" rating for the company in a research note on Thursday, June 26th. Finally, New Street Research raised Equinix to a "strong-buy" rating in a research note on Monday, April 28th. Five research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and an average price target of $962.52.

Insider Buying and Selling

In other Equinix news, CEO Adaire Fox-Martin sold 2,949 shares of the stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $884.91, for a total transaction of $2,609,599.59. Following the completion of the sale, the chief executive officer owned 9,615 shares of the company's stock, valued at approximately $8,508,409.65. This represents a 23.47% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Christopher B. Paisley sold 75 shares of the stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $781.50, for a total transaction of $58,612.50. Following the sale, the director directly owned 17,832 shares of the company's stock, valued at $13,935,708. This represents a 0.42% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.27% of the company's stock.

Equinix Trading Down 0.5%

Shares of Equinix stock traded down $4.09 on Monday, hitting $782.38. The stock had a trading volume of 348,945 shares, compared to its average volume of 619,613. The stock has a 50 day moving average of $796.24 and a 200 day moving average of $837.77. Equinix, Inc. has a twelve month low of $701.41 and a twelve month high of $994.03. The company has a debt-to-equity ratio of 1.29, a quick ratio of 1.54 and a current ratio of 1.54. The firm has a market capitalization of $76.56 billion, a P/E ratio of 76.63, a PEG ratio of 1.42 and a beta of 0.90.

Equinix (NASDAQ:EQIX - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The financial services provider reported $9.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.49 by $6.42. Equinix had a return on equity of 7.22% and a net margin of 11.11%.The company had revenue of $2.26 billion during the quarter, compared to the consensus estimate of $2.26 billion. During the same quarter in the prior year, the firm posted $9.22 earnings per share. The firm's revenue was up 4.5% compared to the same quarter last year. Equinix has set its Q3 2025 guidance at EPS. FY 2025 guidance at 37.670-38.480 EPS. Sell-side analysts expect that Equinix, Inc. will post 33.1 earnings per share for the current fiscal year.

Equinix Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 17th. Shareholders of record on Wednesday, August 20th will be given a dividend of $4.69 per share. This represents a $18.76 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend is Wednesday, August 20th. Equinix's dividend payout ratio is currently 183.74%.

Equinix Profile

Equinix Nasdaq: EQIX is the world's digital infrastructure company . Digital leaders harness Equinix's trusted platform to bring together and interconnect foundational infrastructure at software speed. Equinix enables organizations to access all the right places, partners and possibilities to scale with agility, speed the launch of digital services, deliver world-class experiences and multiply their value, while supporting their sustainability goals.