BI Asset Management Fondsmaeglerselskab A S Acquires 2,310 Shares of Equinix, Inc. $EQIX

Key Points

• BI Asset Management Fondsmaeglerselskab A S boosted its Equinix stake by 48.5% in Q1, buying 2,310 more shares and lifting its holdings to 7,069 shares worth about $6.93 million.
• Several analysts remain bullish on Equinix, with multiple Buy ratings and price targets up to $1,250; the stock currently carries a consensus Moderate Buy rating and an average target of $1,143.60.
• Equinix reported stronger-than-expected quarterly earnings, posting $10.79 EPS versus estimates of $4.30, while revenue rose 9.8% year over year; the company also paid a quarterly dividend of $5.16 per share.

BI Asset Management Fondsmaeglerselskab A S increased its stake in Equinix, Inc. (NASDAQ:EQIX - Free Report) by 48.5% during the first quarter, according to its most recent filing with the SEC. The fund owned 7,069 shares of the financial services provider's stock after buying an additional 2,310 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S's holdings in Equinix were worth $6,929,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Cary Street Partners Investment Advisory LLC increased its position in Equinix by 2.7% in the fourth quarter. Cary Street Partners Investment Advisory LLC now owns 498 shares of the financial services provider's stock worth $382,000 after buying an additional 13 shares during the last quarter. IFP Advisors Inc grew its stake in shares of Equinix by 2.2% during the 4th quarter. IFP Advisors Inc now owns 595 shares of the financial services provider's stock worth $456,000 after acquiring an additional 13 shares during the period. UMB Bank n.a. grew its stake in shares of Equinix by 5.9% during the 4th quarter. UMB Bank n.a. now owns 233 shares of the financial services provider's stock worth $179,000 after acquiring an additional 13 shares during the period. Crestwood Advisors Group LLC increased its holdings in Equinix by 3.7% in the 4th quarter. Crestwood Advisors Group LLC now owns 397 shares of the financial services provider's stock worth $304,000 after acquiring an additional 14 shares during the last quarter. Finally, Warwick Investment Management Inc. increased its stake in shares of Equinix by 1.7% in the fourth quarter. Warwick Investment Management Inc. now owns 922 shares of the financial services provider's stock worth $706,000 after purchasing an additional 15 shares in the last quarter. Institutional investors own 94.94% of the company's stock.

Analyst Ratings Changes

A number of analysts recently issued reports on EQIX shares. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and set a $1,207.00 price objective on shares of Equinix in a research note on Tuesday, May 5th. Morgan Stanley raised their price objective on shares of Equinix from $1,075.00 to $1,250.00 and gave the company an "overweight" rating in a research report on Monday, April 13th. Citigroup reaffirmed a "buy" rating on shares of Equinix in a research note on Wednesday, June 3rd. TD Cowen increased their price objective on Equinix from $1,123.00 to $1,143.00 and gave the stock a "buy" rating in a research report on Thursday, April 30th. Finally, Guggenheim restated a "buy" rating and set a $1,235.00 target price on shares of Equinix in a research report on Wednesday, May 20th. Three research analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $1,143.60.

Insider Buying and Selling

In related news, EVP Raouf Abdel sold 2,040 shares of the stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $1,083.47, for a total transaction of $2,210,278.80. Following the completion of the sale, the executive vice president directly owned 5,728 shares in the company, valued at $6,206,116.16. This represents a 26.26% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Brandi Galvin Morandi sold 3,726 shares of Equinix stock in a transaction that occurred on Monday, June 8th. The stock was 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 directly owned 6,132 shares in the company, valued at $6,600,239.52. This trade represents a 37.80% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 11,539 shares of company stock worth $12,455,054 in the last ninety days. Corporate insiders own 0.27% of the company's stock.

Equinix Price Performance

EQIX opened at $1,092.19 on Monday. The business's fifty day simple moving average is $1,074.03 and its 200 day simple moving average is $936.69. Equinix, Inc. has a 52 week low of $710.52 and a 52 week high of $1,128.68. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 1.39. The stock has a market cap of $107.71 billion, a PE ratio of 75.58, a P/E/G ratio of 2.03 and a beta of 0.99.

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

Equinix Dividend Announcement

The firm also recently announced 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 1.9%. The ex-dividend date was Wednesday, May 20th. Equinix's dividend payout ratio (DPR) 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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