Equinix, Inc. $EQIX Shares Acquired by Courier Capital LLC

Key Points

• Courier Capital increased its Equinix stake by 71.5% in the third quarter, bringing its holdings to 2,748 shares worth approximately $2.8 million. Institutional investors collectively own 94.94% of the company.
• Analysts remain broadly positive, with Equinix carrying a “Moderate Buy” consensus rating and an average price target of $1,206.55; several firms recently raised their targets to as high as $1,300.
• Equinix reported quarterly revenue of $2.62 billion, up 16.4% year over year, and earnings of $11.78 per share, well above estimates. Shares recently traded down 1.3% at $1,019.40, while the company declared a quarterly dividend of $5.16 per share.

Courier Capital LLC boosted its position in Equinix, Inc. (NASDAQ:EQIX - Free Report) by 71.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,748 shares of the financial services provider's stock after acquiring an additional 1,146 shares during the period. Courier Capital LLC's holdings in Equinix were worth $2,781,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Sax Wealth Advisors LLC acquired a new position in Equinix during the 3rd quarter valued at about $448,000. NorthCrest Asset Manangement LLC boosted its stake in shares of Equinix by 17.2% in the 3rd quarter. NorthCrest Asset Manangement LLC now owns 2,795 shares of the financial services provider's stock valued at $2,826,000 after purchasing an additional 411 shares during the last quarter. Riversedge Advisors LLC boosted its stake in shares of Equinix by 8.4% in the 3rd quarter. Riversedge Advisors LLC now owns 374 shares of the financial services provider's stock valued at $378,000 after purchasing an additional 29 shares during the last quarter. Wedmont Private Capital grew its position in shares of Equinix by 36.7% during the 3rd quarter. Wedmont Private Capital now owns 1,468 shares of the financial services provider's stock worth $1,484,000 after buying an additional 394 shares during the period. Finally, Legacy Wealth Asset Management LLC grew its position in shares of Equinix by 1.0% during the 3rd quarter. Legacy Wealth Asset Management LLC now owns 2,061 shares of the financial services provider's stock worth $2,085,000 after buying an additional 21 shares during the period. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Equinix

In related news, Director Christopher B. Paisley sold 4,000 shares of the company's stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $1,019.28, for a total value of $4,077,120.00. Following the completion of the sale, the director owned 13,859 shares in the company, valued at $14,126,201.52. This represents a 22.40% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Kurt Pletcher sold 135 shares of the firm'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 sale, the insider directly owned 4,077 shares in the company, valued at $4,384,813.50. The trade was a 3.21% 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. Insiders have sold a total of 4,770 shares of company stock valued at $4,884,197 over the last three months. 0.27% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Truist Financial boosted their price target on shares of Equinix from $1,215.00 to $1,220.00 and gave the stock a "buy" rating in a research note on Friday, July 31st. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and issued a $1,270.00 price objective (up from $1,207.00) on shares of Equinix in a research note on Monday, August 3rd. JPMorgan Chase & Co. lifted their target price on shares of Equinix from $1,200.00 to $1,300.00 and gave the stock an "overweight" rating in a report on Thursday, July 30th. Barclays upped their target price on shares of Equinix from $1,130.00 to $1,135.00 and gave the company an "equal weight" rating in a research report on Tuesday, September 8th. Finally, Sanford C. Bernstein increased their price target on Equinix from $1,222.00 to $1,270.00 and gave the company an "outperform" rating in a research note on Thursday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat, Equinix currently has an average rating of "Moderate Buy" and an average target price of $1,206.55.

Equinix Trading Down 1.3%

Shares of EQIX stock traded down $13.20 on Tuesday, reaching $1,019.40. The company had a trading volume of 409,188 shares, compared to its average volume of 586,552. The stock has a market cap of $100.59 billion, a PE ratio of 65.64, a PEG ratio of 1.47 and a beta of 0.98. The company has a 50-day moving average of $1,041.91 and a 200-day moving average of $1,049.48. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 1.44. Equinix, Inc. has a 12 month low of $720.62 and a 12 month high of $1,128.68.

Equinix (NASDAQ:EQIX - Get Free Report) last released its quarterly earnings data on Wednesday, July 29th. The financial services provider reported $11.78 earnings per share for the quarter, topping the consensus estimate of $4.73 by $7.05. The business had revenue of $2.62 billion for the quarter, compared to analyst estimates of $2.59 billion. Equinix had a net margin of 15.64% and a return on equity of 10.76%. Equinix's quarterly revenue was up 16.4% compared to the same quarter last year. During the same quarter last year, the firm earned $9.91 EPS. Equinix has set its FY 2026 guidance at 42.690-43.290 EPS. On average, equities analysts forecast that Equinix, Inc. will post 38.23 earnings per share for the current year.

Equinix Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 16th. Stockholders of record on Wednesday, August 19th were given a dividend of $5.16 per share. This represents a $20.64 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date of this dividend was Wednesday, August 19th. Equinix's dividend payout ratio (DPR) is currently 132.90%.

About Equinix

Equinix, Inc is a global digital infrastructure company that operates data centers and provides colocation, interconnection and related services. Its International Business Exchange (IBX) data centers allow businesses, cloud providers, network operators, financial institutions and government organizations to deploy and connect critical information technology infrastructure.

The company's services include space, power and physical security for customer equipment, as well as private connections to cloud and network providers.

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