Cibc World Market Inc. Purchases 4,315 Shares of Equinix, Inc. $EQIX

Key Points

• Cibc World Market Inc. boosted its Equinix stake by 8.5% in the fourth quarter, buying 4,315 additional shares and bringing its total to 55,123 shares worth about $42.2 million.
• Several analysts turned more bullish on Equinix, with Raymond James upgrading the stock to Strong Buy and multiple firms raising price targets; the consensus rating is now Moderate Buy with an average target of $1,143.60.
• Equinix reported strong quarterly results, posting $10.79 EPS versus $4.30 expected and 9.8% revenue growth year over year, while also announcing a quarterly dividend of $5.16 per share.

Cibc World Market Inc. increased its holdings in Equinix, Inc. (NASDAQ:EQIX - Free Report) by 8.5% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 55,123 shares of the financial services provider's stock after purchasing an additional 4,315 shares during the period. Cibc World Market Inc. owned approximately 0.06% of Equinix worth $42,233,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of EQIX. Ameriflex Group Inc. lifted its holdings in shares of Equinix by 433.3% in the 3rd quarter. Ameriflex Group Inc. now owns 32 shares of the financial services provider's stock valued at $25,000 after acquiring an additional 26 shares during the last quarter. Princeton Global Asset Management LLC increased its stake in Equinix by 200.0% during the fourth quarter. Princeton Global Asset Management LLC now owns 42 shares of the financial services provider's stock worth $32,000 after acquiring an additional 28 shares during the last quarter. WPG Advisers LLC increased its stake in Equinix by 51.7% during the fourth quarter. WPG Advisers LLC now owns 44 shares of the financial services provider's stock worth $34,000 after acquiring an additional 15 shares during the last quarter. Cornerstone Planning Group LLC raised its position in Equinix by 40.6% during the third 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 period. Finally, Activest Wealth Management raised its position in Equinix by 81.5% during the fourth 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 period. Hedge funds and other institutional investors own 94.94% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Raymond James Financial upgraded Equinix from a "market perform" rating to a "strong-buy" rating and set a $1,250.00 target price for the company in a report on Thursday, April 30th. Wells Fargo & Company raised their price target on Equinix from $975.00 to $1,200.00 and gave the stock an "overweight" rating in a research report on Tuesday, April 21st. Citigroup reaffirmed a "buy" rating on shares of Equinix in a research note on Wednesday. Guggenheim reissued a "buy" rating and issued a $1,235.00 target price on shares of Equinix in a research note on Wednesday, May 20th. Finally, BMO Capital Markets raised their target price on shares of Equinix from $925.00 to $1,050.00 and gave the stock an "outperform" rating in a report on Thursday, February 12th. Three analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, Equinix presently has an average rating of "Moderate Buy" and an average target price of $1,143.60.

Insider Buying and Selling

In other news, insider Brandi Galvin Morandi sold 630 shares of the firm's stock in a transaction dated Thursday, March 12th. The shares were sold at an average price of $961.19, for a total value of $605,549.70. Following the sale, the insider directly owned 10,394 shares in the company, valued at approximately $9,990,608.86. This trade represents a 5.71% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jonathan Lin sold 635 shares of Equinix stock in a transaction that occurred on Thursday, March 12th. The stock was sold at an average price of $965.71, for a total transaction of $613,225.85. Following the completion of the transaction, the insider directly owned 10,788 shares in the company, valued at approximately $10,418,079.48. The trade was a 5.56% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 11,053 shares of company stock valued at $11,569,731 over the last three months. Corporate insiders own 0.27% of the company's stock.

Equinix Stock Performance

Shares of NASDAQ:EQIX opened at $1,089.15 on Friday. The firm has a 50 day moving average of $1,056.06 and a 200 day moving average of $912.41. 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 company has a market capitalization of $107.41 billion, a price-to-earnings ratio of 75.37, a price-to-earnings-growth ratio of 2.03 and a beta of 0.99. Equinix, Inc. has a 52 week low of $710.52 and a 52 week high of $1,128.68.

Equinix (NASDAQ:EQIX - Get Free Report) last announced its quarterly earnings results on Wednesday, April 29th. The financial services provider reported $10.79 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.30 by $6.49. The business had revenue of $2.44 billion for the quarter, compared to the consensus estimate of $2.52 billion. Equinix had a return on equity of 10.03% and a net margin of 15.07%.The business's revenue was up 9.8% compared to the same quarter last year. During the same period last year, the business posted $9.67 EPS. Equinix has set its FY 2026 guidance at 42.310-43.110 EPS. On average, sell-side analysts predict that Equinix, Inc. will post 37.72 earnings per share for the current fiscal year.

Equinix Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 17th. Shareholders of record on Wednesday, May 20th will be paid a $5.16 dividend. This represents a $20.64 annualized dividend and a yield of 1.9%. The ex-dividend date is Wednesday, May 20th. Equinix's payout ratio 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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