Bank of New York Mellon Corp Acquires Shares of 574,464 Equinix, Inc. $EQIX

Bank of New York Mellon Corp purchased a new position in Equinix, Inc. (NASDAQ:EQIX - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 574,464 shares of the financial services provider's stock, valued at approximately $598,815,000. Bank of New York Mellon Corp owned about 0.58% of Equinix at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of EQIX. Vanguard Group Inc. raised its holdings in Equinix by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 13,398,906 shares of the financial services provider's stock valued at $10,265,706,000 after buying an additional 107,227 shares during the period. Cohen & Steers Inc. raised its holdings in shares of Equinix by 23.3% in the fourth quarter. Cohen & Steers Inc. now owns 2,609,011 shares of the financial services provider's stock valued at $1,998,978,000 after buying an additional 493,141 shares during the last quarter. Geode Capital Management LLC lifted its position in Equinix by 1.0% during the 4th quarter. Geode Capital Management LLC now owns 2,567,830 shares of the financial services provider's stock worth $1,959,731,000 after acquiring an additional 25,383 shares during the period. Principal Financial Group Inc. raised its stake in shares of Equinix by 1.4% during the 1st quarter. Principal Financial Group Inc. now owns 1,980,497 shares of the financial services provider's stock worth $1,941,377,000 after buying an additional 27,643 shares in the last quarter. Finally, Northern Trust Corp increased its holdings in Equinix by 0.6% in the fourth quarter. Northern Trust Corp now owns 1,500,506 shares of the financial services provider's stock valued at $1,149,628,000 after buying an additional 9,614 shares in the last quarter. Hedge funds and other institutional investors own 94.94% of the company's stock.

Wall Street Analyst Weigh In

EQIX has been the topic of a number of research analyst reports. Evercore reissued an "outperform" rating and issued a $1,270.00 price target on shares of Equinix in a research note on Tuesday. The Goldman Sachs Group lifted their price target on shares of Equinix from $894.00 to $1,015.00 and gave the stock a "neutral" rating in a research note on Thursday, April 30th. Barclays boosted their price target on shares of Equinix from $1,109.00 to $1,130.00 and gave the company an "equal weight" rating in a report on Wednesday, July 1st. Citigroup restated a "market outperform" rating on shares of Equinix in a report on Tuesday, August 4th. Finally, Cantor Fitzgerald lifted their target price on shares of Equinix from $1,186.00 to $1,211.00 and gave the company an "overweight" rating in a research note on Thursday, July 30th. Two analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $1,203.40.

Equinix Trading Down 1.6%

EQIX stock opened at $1,065.39 on Friday. The company has a market capitalization of $105.12 billion, a PE ratio of 68.60, a price-to-earnings-growth ratio of 1.54 and a beta of 0.99. The company's 50-day simple moving average is $1,052.66 and its 200 day simple moving average is $1,022.48. Equinix, Inc. has a 52 week low of $720.62 and a 52 week high of $1,128.68. The company has a debt-to-equity ratio of 1.44, a quick ratio of 1.13 and a current ratio of 1.13.

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

Equinix Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 16th. Investors of record on Wednesday, August 19th will be paid a $5.16 dividend. The ex-dividend date of this dividend is Wednesday, August 19th. This represents a $20.64 annualized dividend and a dividend yield of 1.9%. Equinix's dividend payout ratio (DPR) is presently 132.90%.

Insider Activity

In related news, Director Christopher B. Paisley sold 4,000 shares of the company's stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $1,019.28, for a total value of $4,077,120.00. Following the transaction, the director owned 13,859 shares in the company, valued at $14,126,201.52. The trade was a 22.40% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Brandi Galvin Morandi sold 3,726 shares of the stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $1,076.36, for a total transaction of $4,010,517.36. Following the sale, the insider owned 6,132 shares in the company, valued at approximately $6,600,239.52. The trade was a 37.80% 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 three months, insiders have sold 7,986 shares of company stock valued at $8,370,777. Company insiders own 0.27% of the company's stock.

Equinix 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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