Andra AP fonden Acquires 8,600 Shares of Equinix, Inc. $EQIX

Key Points

• Andra AP fonden doubled its Equinix stake in the second quarter, acquiring 8,600 additional shares for a total holding of 16,975 shares valued at approximately $17.7 million. Institutional investors collectively own 94.94% of the company.
• Equinix reported quarterly revenue of $2.62 billion, up 16.4% year over year, and adjusted earnings of $11.78 per share, substantially beating analysts’ $4.73 estimate.
• Shares recently traded near $1,055, while analysts maintain a “Moderate Buy” consensus with an average price target of $1,206.96; Equinix also pays a quarterly dividend of $5.16, yielding about 2.0% annually.

Andra AP fonden raised its stake in Equinix, Inc. (NASDAQ:EQIX - Free Report) by 102.7% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 16,975 shares of the financial services provider's stock after acquiring an additional 8,600 shares during the quarter. Andra AP fonden's holdings in Equinix were worth $17,695,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. Sequoia Financial Advisors LLC lifted its stake in shares of Equinix by 18.8% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 2,240 shares of the financial services provider's stock valued at $2,335,000 after acquiring an additional 355 shares during the last quarter. IPG Investment Advisors LLC acquired a new position in Equinix in the 2nd quarter worth about $262,000. Engineers Gate Manager LP increased its holdings in Equinix by 116.2% in the 2nd quarter. Engineers Gate Manager LP now owns 26,947 shares of the financial services provider's stock worth $28,089,000 after purchasing an additional 14,482 shares in the last quarter. Cidel Asset Management Inc. raised its position in Equinix by 6.3% in the second quarter. Cidel Asset Management Inc. now owns 269 shares of the financial services provider's stock valued at $280,000 after purchasing an additional 16 shares during the last quarter. Finally, Pinnacle Wealth Management Advisory Group LLC raised its position in Equinix by 9.0% in the second quarter. Pinnacle Wealth Management Advisory Group LLC now owns 497 shares of the financial services provider's stock valued at $518,000 after purchasing an additional 41 shares during the last quarter. 94.94% of the stock is currently owned by institutional investors and hedge funds.

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 stock was sold at an average price of $1,075.50, for a total transaction of $145,192.50. Following the completion of the sale, the insider owned 4,077 shares in the company, 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 legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Michael Paladin sold 307 shares of the stock in a transaction on Friday, September 4th. The stock was sold at an average price of $1,035.01, for a total value of $317,748.07. Following the completion of the transaction, the insider owned 2,450 shares in the company, valued at approximately $2,535,774.50. This represents a 11.14% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 4,770 shares of company stock valued at $4,884,197. Company insiders own 0.27% of the company's stock.

Equinix Trading Down 0.3%

EQIX traded down $2.69 during trading on Tuesday, hitting $1,054.57. The company's stock had a trading volume of 139,233 shares, compared to its average volume of 594,571. The firm has a market capitalization of $104.05 billion, a P/E ratio of 67.87, a PEG ratio of 1.46 and a beta of 0.99. Equinix, Inc. has a twelve month low of $720.62 and a twelve month high of $1,128.68. The stock's fifty day moving average price is $1,043.89 and its 200-day moving average price is $1,042.68. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 1.44.

Equinix (NASDAQ:EQIX - Get Free Report) last released its quarterly earnings data on Wednesday, July 29th. The financial services provider reported $11.78 earnings per share for the quarter, beating the consensus estimate of $4.73 by $7.05. The company had revenue of $2.62 billion during the quarter, compared to analyst estimates of $2.59 billion. Equinix had a net margin of 15.64% and a return on equity of 10.76%. Equinix's revenue for the quarter was up 16.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $9.91 EPS. Equinix has set its FY 2026 guidance at 42.690-43.290 EPS. Analysts anticipate that Equinix, Inc. will post 38.23 EPS for the current year.

Equinix Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 16th. Shareholders of record on Wednesday, August 19th were paid a $5.16 dividend. This represents a $20.64 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend was Wednesday, August 19th. Equinix's dividend payout ratio (DPR) is 132.90%.

Analyst Upgrades and Downgrades

EQIX has been the topic of several research reports. Scotiabank restated a "sector perform" rating and set a $1,208.00 price target on shares of Equinix in a report on Thursday, July 30th. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and set a $1,270.00 target price on shares of Equinix in a research report on Monday, August 3rd. Citigroup restated a "market outperform" rating on shares of Equinix in a research report on Tuesday, August 4th. Cantor Fitzgerald lifted their price target on shares of Equinix from $1,186.00 to $1,211.00 and gave the stock an "overweight" rating in a report on Thursday, July 30th. Finally, TD Cowen boosted their price objective on shares of Equinix from $1,143.00 to $1,166.00 and gave the stock a "buy" rating in a research note on Thursday, July 30th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $1,206.96.

Equinix Company Profile

Equinix, Inc is a global digital infrastructure company that operates data centers and provides interconnection and cloud connectivity services. Its facilities, known as International Business Exchange (IBX) data centers, enable businesses, cloud providers, network operators, financial institutions and other organizations to securely house technology infrastructure and exchange data.

The company's Platform Equinix services include colocation, private and public cloud connectivity, network interconnection, managed infrastructure and digital services.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.