Azzad Asset Management Inc. ADV Has $5.90 Million Holdings in Equinix, Inc. $EQIX

Key Points

• Azzad Asset Management increased its stake in Equinix by 19.4% in Q1, buying 977 more shares and bringing its total holdings to 6,018 shares worth about $5.9 million.
• Wall Street remains broadly positive on Equinix, with multiple firms raising price targets; the stock carries a Moderate Buy consensus and an average target of $1,153.38.
• Equinix reported strong quarterly earnings, beating EPS estimates by a wide margin, while also announcing a quarterly dividend of $5.16 per share for a 2.0% annualized yield.

Azzad Asset Management Inc. ADV grew its position in shares of Equinix, Inc. (NASDAQ:EQIX - Free Report) by 19.4% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 6,018 shares of the financial services provider's stock after purchasing an additional 977 shares during the quarter. Azzad Asset Management Inc. ADV's holdings in Equinix were worth $5,899,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Douglas Lane & Associates LLC increased its holdings in Equinix by 3.9% in the fourth quarter. Douglas Lane & Associates LLC now owns 112,030 shares of the financial services provider's stock worth $85,833,000 after purchasing an additional 4,241 shares in the last quarter. Vanderbilt University boosted its holdings in shares of Equinix by 65.9% during the 4th quarter. Vanderbilt University now owns 10,298 shares of the financial services provider's stock worth $7,890,000 after buying an additional 4,089 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in shares of Equinix by 6.3% during 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 buying an additional 3,108 shares in the last quarter. Perigon Wealth Management LLC increased its stake in shares of Equinix by 141.1% in the 4th quarter. Perigon Wealth Management LLC now owns 3,178 shares of the financial services provider's stock valued at $2,435,000 after acquiring an additional 1,860 shares in the last quarter. Finally, Generali Investments CEE investicni spolecnost a.s. lifted its position in shares of Equinix by 305.7% during the 4th quarter. Generali Investments CEE investicni spolecnost a.s. now owns 11,766 shares of the financial services provider's stock valued at $9,015,000 after acquiring an additional 8,866 shares during the period. Institutional investors and hedge funds own 94.94% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have commented on EQIX. Cantor Fitzgerald raised their price target on shares of Equinix from $1,173.00 to $1,186.00 and gave the stock an "overweight" rating in a report on Friday, May 1st. JPMorgan Chase & Co. upped their price objective on shares of Equinix from $1,100.00 to $1,200.00 and gave the company an "overweight" rating in a report on Thursday, April 30th. Evercore reissued an "outperform" rating and set a $1,240.00 price objective on shares of Equinix in a research report on Tuesday, April 28th. Morgan Stanley raised their target price on Equinix from $1,075.00 to $1,250.00 and gave the company an "overweight" rating in a research note on Monday, April 13th. Finally, Raymond James Financial raised Equinix from a "market perform" rating to a "strong-buy" rating and set a $1,250.00 target price for the company in a research report on Thursday, April 30th. Three research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $1,153.38.

Insider Buying and Selling

In other Equinix news, insider Brandi Galvin Morandi sold 3,726 shares of the stock in a transaction dated Monday, June 8th. The shares were 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 owned 6,132 shares in the company, valued at approximately $6,600,239.52. This trade represents a 37.80% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Christopher B. Paisley sold 125 shares of Equinix stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $1,060.29, for a total transaction of $132,536.25. Following the transaction, the director directly owned 17,557 shares in the company, valued at approximately $18,615,511.53. This represents a 0.71% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 11,115 shares of company stock valued at $12,022,574. 0.27% of the stock is owned by corporate insiders.

Equinix Stock Up 1.9%

Shares of NASDAQ EQIX opened at $1,034.87 on Friday. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.18 and a quick ratio of 1.18. The company has a 50-day moving average price of $1,066.92 and a 200-day moving average price of $967.02. The stock has a market capitalization of $102.06 billion, a P/E ratio of 71.62, a P/E/G ratio of 1.89 and a beta of 0.98. Equinix, Inc. has a 1 year low of $720.62 and a 1 year high of $1,128.68.

Equinix (NASDAQ:EQIX - Get Free Report) last announced its quarterly earnings results on Wednesday, April 29th. The financial services provider reported $10.79 earnings per share for the quarter, beating the consensus estimate of $4.30 by $6.49. Equinix had a net margin of 15.07% and a return on equity of 10.03%. The business had revenue of $2.44 billion for the quarter, compared to analysts' expectations of $2.52 billion. During the same quarter last year, the firm earned $9.67 EPS. The firm's revenue for the quarter was up 9.8% compared to the same quarter last year. Equinix has set its FY 2026 guidance at 42.310-43.110 EPS. On average, equities research analysts forecast that Equinix, Inc. will post 38.26 EPS for the current fiscal year.

Equinix Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 17th. Investors of record on Wednesday, May 20th were given 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, May 20th. Equinix's dividend payout ratio is presently 142.84%.

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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