Beacon Pointe Advisors LLC purchased a new position in Equinix, Inc. (NASDAQ:EQIX - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 1,373 shares of the financial services provider's stock, valued at approximately $1,431,000.
Other hedge funds have also recently made changes to their positions in the company. Livforsakringsbolaget Skandia Omsesidigt bought a new stake in Equinix in the second quarter worth approximately $642,000. Rakuten Investment Management Inc. bought a new position in Equinix during the second quarter worth $17,505,000. RB Capital Management LLC acquired a new stake in Equinix in the second quarter worth $519,000. Empowered Funds LLC bought a new stake in Equinix in the second quarter valued at $5,778,000. Finally, United Capital Financial Advisors LLC acquired a new position in shares of Equinix during the second quarter valued at about $5,142,000. 94.94% of the stock is owned by institutional investors.
Insider Transactions at Equinix
In related news, insider Kurt Pletcher sold 135 shares of the business's stock in a transaction dated Thursday, August 20th. The shares were sold at an average price of $1,075.50, for a total transaction of $145,192.50. Following the transaction, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Brandi Galvin Morandi sold 3,726 shares of the stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $1,076.36, for a total transaction of $4,010,517.36. Following the completion of the transaction, the insider directly owned 6,132 shares of the company's stock, valued at approximately $6,600,239.52. The trade was a 37.80% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 7,986 shares of company stock valued at $8,370,777. Company insiders own 0.27% of the company's stock.
Analysts Set New Price Targets
EQIX has been the subject of a number of research reports. Scotiabank reissued a "sector perform" rating and issued a $1,208.00 price objective on shares of Equinix in a research note on Thursday, July 30th. UBS Group raised their target price on Equinix from $1,210.00 to $1,265.00 and gave the company a "buy" rating in a report on Thursday, July 30th. Stifel Nicolaus boosted their price target on shares of Equinix from $1,250.00 to $1,265.00 and gave the stock a "buy" rating in a report on Thursday, July 30th. Citigroup restated a "market outperform" rating on shares of Equinix in a research note on Tuesday, August 4th. Finally, Barclays increased their target price on shares of Equinix from $1,109.00 to $1,130.00 and gave the company an "equal weight" rating in a research report on Wednesday, July 1st. Two investment 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 stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $1,203.40.
Read Our Latest Research Report on Equinix
Equinix Price Performance
Shares of EQIX opened at $1,044.41 on Monday. The firm has a market cap of $103.05 billion, a P/E ratio of 67.25, a P/E/G ratio of 1.48 and a beta of 0.99. The stock has a 50 day simple moving average of $1,050.60 and a two-hundred day simple moving average of $1,032.51. 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, 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 issued its quarterly 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 last year, the business earned $9.91 earnings per share. The business'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, analysts forecast that Equinix, Inc. will post 38.23 earnings per share for the current fiscal year.
Equinix Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 16th. Shareholders of record on Wednesday, August 19th will be issued a $5.16 dividend. The ex-dividend date is Wednesday, August 19th. This represents a $20.64 annualized dividend and a yield of 2.0%. Equinix's dividend payout ratio is 132.90%.
About Equinix
(
Free Report)
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.
Further Reading
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