Equinix, Inc. $EQIX Shares Acquired by Rockefeller Capital Management L.P.

Key Points

• Rockefeller Capital Management boosted its Equinix stake by 37.3% in Q4, buying 30,572 shares to bring its holdings to 112,474 shares worth about $86.2 million.
• Analysts remain broadly positive on Equinix, with an average rating of Moderate Buy and a consensus target price of $1,143.60. Recent calls included higher price targets from Mizuho, Scotiabank, and Morgan Stanley.
• Equinix reported strong quarterly results, posting $10.79 EPS versus a $4.30 estimate and 9.8% revenue growth year over year, while also paying a quarterly dividend of $5.16 per share.

Rockefeller Capital Management L.P. increased its stake in shares of Equinix, Inc. (NASDAQ:EQIX - Free Report) by 37.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 112,474 shares of the financial services provider's stock after buying an additional 30,572 shares during the quarter. Rockefeller Capital Management L.P. owned about 0.11% of Equinix worth $86,174,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in EQIX. Ameriflex Group Inc. lifted 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 worth $25,000 after acquiring an additional 26 shares during the period. Kemnay Advisory Services Inc. acquired a new position in shares of Equinix in the fourth quarter valued at about $30,000. Princeton Global Asset Management LLC increased its holdings in shares of Equinix by 200.0% in the fourth 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 period. WPG Advisers LLC raised its stake in shares of Equinix by 51.7% in the fourth quarter. WPG Advisers LLC now owns 44 shares of the financial services provider's stock worth $34,000 after purchasing an additional 15 shares during the last quarter. Finally, Activest Wealth Management raised its stake in shares of Equinix by 81.5% in the fourth quarter. Activest Wealth Management now owns 49 shares of the financial services provider's stock worth $38,000 after purchasing an additional 22 shares during the last quarter. 94.94% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Mizuho upped their target price on Equinix from $1,165.00 to $1,200.00 and gave the company an "outperform" rating in a research report on Thursday, May 7th. Wall Street Zen raised shares of Equinix from a "sell" rating to a "hold" rating in a research report on Saturday, May 2nd. Scotiabank lifted their price objective on shares of Equinix from $1,050.00 to $1,120.00 and gave the company a "sector perform" rating in a research note on Thursday, April 30th. Weiss Ratings raised shares of Equinix from a "hold (c+)" rating to a "buy (b-)" rating in a report on Thursday, May 7th. Finally, Morgan Stanley increased their price objective on shares of Equinix from $1,075.00 to $1,250.00 and gave the stock an "overweight" rating in a research note on Monday, April 13th. Three investment analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $1,143.60.

Insider Activity

In other Equinix news, Director Christopher B. Paisley sold 125 shares of the company's stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $1,060.29, for a total value of $132,536.25. Following the completion of the transaction, the director owned 17,557 shares in the company, valued at approximately $18,615,511.53. This represents a 0.71% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Brandi Galvin Morandi sold 3,726 shares of the stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $1,076.36, for a total transaction of $4,010,517.36. Following the sale, the insider directly owned 6,132 shares in the company, valued at approximately $6,600,239.52. The trade was a 37.80% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 11,539 shares of company stock valued at $12,455,054 in the last quarter. Company insiders own 0.27% of the company's stock.

Equinix Price Performance

Shares of EQIX opened at $1,092.19 on Friday. 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 company has a market capitalization of $107.71 billion, a price-to-earnings ratio of 75.58, a PEG ratio of 2.03 and a beta of 0.99. The stock's 50-day moving average price is $1,074.03 and its 200-day moving average price is $935.26.

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, topping 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 firm had revenue of $2.44 billion for the quarter, compared to analyst estimates of $2.52 billion. During the same period last year, the company earned $9.67 earnings per share. Equinix's revenue for the quarter was up 9.8% compared to the same quarter last year. Equinix has set its FY 2026 guidance at 42.310-43.110 EPS. On average, sell-side analysts predict that Equinix, Inc. will post 38.26 EPS for the current year.

Equinix Dividend Announcement

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

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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