Envestnet Portfolio Solutions Inc. Sells 1,161 Shares of Equinix, Inc. $EQIX

Key Points

• Envestnet Portfolio Solutions trimmed its Equinix stake by 16.5% in the fourth quarter, selling 1,161 shares and leaving it with 5,892 shares valued at about $4.5 million.
• Equinix reported strong quarterly earnings, posting $10.79 EPS versus the $4.30 consensus estimate, while revenue rose 9.8% year over year to $2.44 billion.
• The company also announced a quarterly dividend of $5.16 per share, and analysts remain broadly positive with a consensus rating of “Moderate Buy” and an average price target of $1,143.60.

Envestnet Portfolio Solutions Inc. lessened its stake in shares of Equinix, Inc. (NASDAQ:EQIX - Free Report) by 16.5% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,892 shares of the financial services provider's stock after selling 1,161 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in Equinix were worth $4,514,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Douglas Lane & Associates LLC raised its holdings in Equinix by 3.9% during the fourth quarter. Douglas Lane & Associates LLC now owns 112,030 shares of the financial services provider's stock worth $85,833,000 after acquiring an additional 4,241 shares in the last quarter. JPMorgan Chase & Co. increased its position in Equinix by 25.8% during the third quarter. JPMorgan Chase & Co. now owns 2,875,355 shares of the financial services provider's stock worth $2,252,094,000 after buying an additional 588,967 shares during the last quarter. Chilton Capital Management LLC increased its position in Equinix by 5.1% during the third quarter. Chilton Capital Management LLC now owns 36,908 shares of the financial services provider's stock worth $28,908,000 after buying an additional 1,805 shares during the last quarter. Foresight Group Ltd Liability Partnership increased its position in Equinix by 10.0% during the third quarter. Foresight Group Ltd Liability Partnership now owns 26,139 shares of the financial services provider's stock worth $20,425,000 after buying an additional 2,378 shares during the last quarter. Finally, Penserra Capital Management LLC increased its position in Equinix by 29.9% during the third quarter. Penserra Capital Management LLC now owns 12,761 shares of the financial services provider's stock worth $9,994,000 after buying an additional 2,941 shares during the last quarter. Institutional investors own 94.94% of the company's stock.

Equinix Price Performance

Equinix stock opened at $1,078.42 on Friday. Equinix, Inc. has a 12 month low of $710.52 and a 12 month high of $1,128.68. The stock's 50 day moving average is $1,035.69 and its 200-day moving average is $894.31. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 1.39. The company has a market capitalization of $106.35 billion, a price-to-earnings ratio of 74.63, a PEG ratio of 2.00 and a beta of 1.01.

Equinix (NASDAQ:EQIX - Get Free Report) last posted its earnings results on Wednesday, April 29th. The financial services provider reported $10.79 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $2.52 billion. During the same quarter in the prior year, the business earned $9.67 earnings per share. 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. Equities research analysts expect that Equinix, Inc. will post 37.72 EPS for the current year.

Equinix Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 17th. Investors of record on Wednesday, May 20th will be paid a $5.16 dividend. This represents a $20.64 annualized dividend and a dividend yield of 1.9%. The ex-dividend date is Wednesday, May 20th. Equinix's payout ratio is 142.84%.

Insiders Place Their Bets

In related news, Chairman Charles J. Meyers sold 5,224 shares of the business'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 value of $5,669,241.52. Following the completion of the sale, the chairman directly owned 7,370 shares in the company, valued at approximately $7,998,145.10. The trade was a 41.48% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Raouf Abdel sold 584 shares of the business's stock in a transaction that occurred on Thursday, March 12th. The shares were sold at an average price of $965.69, for a total value of $563,962.96. Following the completion of the sale, the executive vice president owned 7,768 shares of the company's stock, valued at approximately $7,501,479.92. This trade represents a 6.99% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 11,729 shares of company stock valued at $11,980,800 in the last quarter. Company insiders own 0.27% of the company's stock.

Analyst Ratings Changes

A number of brokerages have weighed in on EQIX. Raymond James Financial raised Equinix from a "market perform" rating to a "strong-buy" rating and set a $1,250.00 price target on the stock in a research report on Thursday, April 30th. Evercore reissued an "outperform" rating and set a $1,240.00 price target on shares of Equinix in a research report on Tuesday, April 28th. TD Cowen boosted their price target 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. Jefferies Financial Group boosted their price target on Equinix from $950.00 to $1,000.00 and gave the stock a "buy" rating in a research report on Thursday, February 12th. Finally, Oppenheimer reissued an "outperform" rating and set a $1,200.00 price target on shares of Equinix in a research report on Thursday, April 30th. Three investment analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and six have assigned a Hold rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $1,143.60.

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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