Benjamin Edwards Inc. Sells 4,988 Shares of Equinix, Inc. $EQIX

Key Points

• Benjamin Edwards Inc. reduced its Equinix stake by 14%, selling 4,988 shares and retaining 30,610 shares valued at approximately $31.93 million. Institutional investors collectively own 94.94% of the company.
• Equinix reported strong quarterly results, with revenue rising 16.4% year over year to $2.62 billion and EPS of $11.78, well above the $4.73 consensus estimate. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $1,203.40.
• The company declared a quarterly dividend of $5.16 per share, equivalent to an annualized $20.64 and a 2.0% yield. Recent insider activity was also net selling, with insiders selling 7,986 shares worth about $8.37 million over the last quarter.

Benjamin Edwards Inc. lessened its holdings in shares of Equinix, Inc. (NASDAQ:EQIX - Free Report) by 14.0% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 30,610 shares of the financial services provider's stock after selling 4,988 shares during the period. Benjamin Edwards Inc.'s holdings in Equinix were worth $31,930,000 as of its most recent filing with the SEC.

Several other institutional investors have also added to or reduced their stakes in the stock. BlackRock Inc. acquired a new stake in Equinix during the 2nd quarter worth about $11,930,074,000. Cohen & Steers Inc. grew its holdings in Equinix by 23.3% in the fourth quarter. Cohen & Steers Inc. now owns 2,609,011 shares of the financial services provider's stock worth $1,998,978,000 after purchasing an additional 493,141 shares during the period. Geode Capital Management LLC grew its holdings in Equinix by 1.0% in the fourth quarter. Geode Capital Management LLC now owns 2,567,830 shares of the financial services provider's stock worth $1,959,731,000 after purchasing an additional 25,383 shares during the period. Principal Financial Group Inc. increased its stake in Equinix by 1.4% in the first quarter. Principal Financial Group Inc. now owns 1,980,497 shares of the financial services provider's stock valued at $1,941,377,000 after purchasing an additional 27,643 shares in the last quarter. Finally, Northern Trust Corp increased its stake 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 purchasing an additional 9,614 shares in the last quarter. 94.94% of the stock is currently owned by institutional investors.

Equinix Stock Down 3.0%

Equinix stock opened at $1,044.41 on Friday. Equinix, Inc. has a fifty-two week low of $720.62 and a fifty-two 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. The firm's 50-day simple moving average is $1,050.60 and its 200 day simple moving average is $1,031.29. The stock has a market cap of $103.05 billion, a PE ratio of 67.25, a price-to-earnings-growth ratio of 1.48 and a beta of 0.99.

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, beating the consensus estimate of $4.73 by $7.05. Equinix had a net margin of 15.64% and a return on equity of 10.76%. The firm had revenue of $2.62 billion during the quarter, compared to analyst estimates of $2.59 billion. During the same quarter last year, the business posted $9.91 EPS. The company's revenue for the quarter was up 16.4% on a year-over-year basis. Equinix has set its FY 2026 guidance at 42.690-43.290 EPS. Research analysts predict that Equinix, Inc. will post 38.23 EPS for the current fiscal year.

Equinix Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 16th. Investors of record on Wednesday, August 19th will be issued a dividend of $5.16 per share. This represents a $20.64 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date is Wednesday, August 19th. Equinix's dividend payout ratio (DPR) is 132.90%.

Analysts Set New Price Targets

EQIX has been the topic of a number of research analyst reports. HSBC reissued a "buy" rating and set a $1,400.00 price objective on shares of Equinix in a research report on Friday, August 14th. Truist Financial upped their price target on Equinix from $1,215.00 to $1,220.00 and gave the stock a "buy" rating in a research note on Friday, July 31st. Guggenheim reiterated a "buy" rating and issued a $1,235.00 price target on shares of Equinix in a report on Wednesday, May 20th. UBS Group raised their price objective on Equinix from $1,210.00 to $1,265.00 and gave the company a "buy" rating in a research note on Thursday, July 30th. Finally, Mizuho boosted their price objective on Equinix from $1,165.00 to $1,200.00 and gave the company an "outperform" rating in a report on Thursday, May 7th. Two analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $1,203.40.

Insiders Place Their Bets

In other Equinix news, insider Kurt Pletcher sold 135 shares of the business's stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $1,075.50, for a total value of $145,192.50. Following the transaction, the insider owned 4,077 shares of the company's stock, valued at approximately $4,384,813.50. The trade was a 3.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Brandi Galvin Morandi sold 3,726 shares of the company's stock in a transaction on 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 transaction, the insider owned 6,132 shares of the company's stock, valued at $6,600,239.52. This trade represents 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 quarter, insiders have sold 7,986 shares of company stock valued at $8,370,777. Insiders own 0.27% of the company's stock.

Equinix Company 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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