BNP Paribas Sells 2,399 Shares of Equinix, Inc. $EQIX

Key Points

• BNP Paribas cut its Equinix stake by 68.7% in the fourth quarter, selling 2,399 shares and leaving it with 1,091 shares worth about $836,000.
• Equinix has seen mixed sentiment from analysts: several firms raised price targets and maintained bullish ratings, but Zacks Research downgraded the stock to hold. Overall, the consensus rating remains Moderate Buy with an average price target of $1,143.60.
• The company reported strong quarterly results, with EPS of $10.79 beating expectations, though revenue came in slightly below estimates. Equinix also announced a quarterly dividend of $5.16 per share, payable June 17, for an annualized yield of 1.9%.

BNP Paribas decreased its holdings in shares of Equinix, Inc. (NASDAQ:EQIX - Free Report) by 68.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,091 shares of the financial services provider's stock after selling 2,399 shares during the period. BNP Paribas' holdings in Equinix were worth $836,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Ameriflex Group Inc. raised its position in Equinix by 433.3% during the 3rd quarter. Ameriflex Group Inc. now owns 32 shares of the financial services provider's stock valued at $25,000 after purchasing an additional 26 shares during the last quarter. Princeton Global Asset Management LLC raised its position in Equinix by 200.0% during the 4th quarter. Princeton Global Asset Management LLC now owns 42 shares of the financial services provider's stock valued at $32,000 after purchasing an additional 28 shares during the last quarter. WPG Advisers LLC raised its position in Equinix by 51.7% during the 4th quarter. WPG Advisers LLC now owns 44 shares of the financial services provider's stock valued at $34,000 after purchasing an additional 15 shares during the last quarter. Cornerstone Planning Group LLC raised its position in Equinix by 40.6% during the 3rd quarter. Cornerstone Planning Group LLC now owns 45 shares of the financial services provider's stock valued at $37,000 after purchasing an additional 13 shares during the last quarter. Finally, Activest Wealth Management raised its position in Equinix by 81.5% during the 4th quarter. Activest Wealth Management now owns 49 shares of the financial services provider's stock valued at $38,000 after purchasing an additional 22 shares during the last quarter. Institutional investors own 94.94% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. BMO Capital Markets increased their target price on Equinix from $925.00 to $1,050.00 and gave the stock an "outperform" rating in a research report on Thursday, February 12th. Zacks Research lowered Equinix from a "strong-buy" rating to a "hold" rating in a research report on Friday, May 15th. Stifel Nicolaus set a $1,075.00 target price on Equinix in a research report on Thursday, February 12th. Morgan Stanley increased their target price on Equinix from $1,075.00 to $1,250.00 and gave the stock an "overweight" rating in a research report on Monday, April 13th. Finally, Evercore reiterated an "outperform" rating and issued a $1,240.00 price target on shares of Equinix in a research note on Tuesday, April 28th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and six have given a Hold rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $1,143.60.

Insider Activity at Equinix

In related news, Chairman Charles J. Meyers sold 5,224 shares of the firm's stock in a transaction that occurred on Wednesday, May 6th. The stock was sold at an average price of $1,085.23, for a total transaction of $5,669,241.52. Following the completion of the transaction, the chairman owned 7,370 shares of the company's stock, valued at $7,998,145.10. This trade represents a 41.48% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Brandi Galvin Morandi sold 630 shares of the firm's stock in a transaction that occurred on Thursday, March 12th. The shares were sold at an average price of $961.19, for a total value of $605,549.70. Following the transaction, the insider directly owned 10,394 shares of the company's stock, valued at approximately $9,990,608.86. This trade represents a 5.71% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 11,053 shares of company stock worth $11,569,731 over the last quarter. 0.27% of the stock is currently owned by company insiders.

Equinix Stock Up 2.0%

EQIX stock opened at $1,071.80 on Wednesday. Equinix, Inc. has a twelve month low of $710.52 and a twelve month 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 firm has a market cap of $105.70 billion, a PE ratio of 74.17, a price-to-earnings-growth ratio of 1.98 and a beta of 0.99. The business has a 50 day moving average of $1,049.12 and a 200 day moving average of $906.40.

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 for the quarter, beating analysts' consensus estimates of $4.30 by $6.49. Equinix had a return on equity of 10.03% and a net margin of 15.07%.The company had revenue of $2.44 billion during the quarter, compared to analyst estimates of $2.52 billion. During the same quarter last year, the company earned $9.67 EPS. The firm's revenue for the quarter was up 9.8% on a year-over-year basis. Equinix has set its FY 2026 guidance at 42.310-43.110 EPS. On average, research analysts forecast that Equinix, Inc. will post 37.72 EPS for the current fiscal year.

Equinix Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 17th. Investors of record on Wednesday, May 20th will be given a dividend of $5.16 per share. This represents a $20.64 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date of this dividend is Wednesday, May 20th. Equinix's dividend payout ratio (DPR) is 142.84%.

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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