Equinix, Inc. $EQIX Shares Acquired by Swiss National Bank

Key Points

• Swiss National Bank boosted its Equinix stake by 7.4% in the first quarter, buying 19,960 additional shares and bringing its holding to 288,163 shares valued at about $282.5 million.
• Institutional ownership remains very high at 94.94%, and several large funds also adjusted positions in EQIX during recent quarters, including Vanguard, Cohen & Steers, and Geode Capital Management.
• Equinix reported strong quarterly results, with EPS of $10.79 beating estimates, while revenue rose 9.8% year over year to $2.44 billion; the company also paid a quarterly dividend of $5.16 per share, yielding about 2.0% annually.

Swiss National Bank increased its holdings in Equinix, Inc. (NASDAQ:EQIX - Free Report) by 7.4% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 288,163 shares of the financial services provider's stock after acquiring an additional 19,960 shares during the period. Swiss National Bank owned approximately 0.29% of Equinix worth $282,469,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in EQIX. Vanguard Group Inc. raised its position in Equinix by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 13,398,906 shares of the financial services provider's stock valued at $10,265,706,000 after purchasing an additional 107,227 shares during the period. Cohen & Steers Inc. grew its stake in shares of Equinix by 23.3% in the fourth quarter. Cohen & Steers Inc. now owns 2,609,011 shares of the financial services provider's stock valued at $1,998,978,000 after buying an additional 493,141 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Equinix by 1.0% in the 4th quarter. Geode Capital Management LLC now owns 2,567,830 shares of the financial services provider's stock valued at $1,959,731,000 after buying an additional 25,383 shares during the period. Principal Financial Group Inc. raised its holdings in shares of Equinix by 1.4% in the 1st quarter. Principal Financial Group Inc. now owns 1,980,497 shares of the financial services provider's stock valued at $1,941,377,000 after buying an additional 27,643 shares during the period. Finally, Northern Trust Corp lifted its stake in Equinix by 0.6% during the 4th quarter. Northern Trust Corp now owns 1,500,506 shares of the financial services provider's stock worth $1,149,628,000 after acquiring an additional 9,614 shares in the last quarter. Institutional investors and hedge funds own 94.94% of the company's stock.

Analyst Ratings Changes

EQIX has been the topic of a number of recent research reports. Truist Financial set a $1,215.00 price target on shares of Equinix in a research note on Friday, May 1st. BTIG Research assumed coverage on shares of Equinix in a research note on Friday, July 10th. They issued a "buy" rating and a $1,210.00 price objective for the company. 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 report on Thursday, April 30th. Barclays upped their target price on shares of Equinix from $1,109.00 to $1,130.00 and gave the stock an "equal weight" rating in a research note on Wednesday, July 1st. Finally, Oppenheimer reissued an "outperform" rating and issued 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, nineteen have given a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, Equinix currently has an average rating of "Moderate Buy" and an average target price of $1,155.64.

Insider Activity at Equinix

In other news, Chairman Charles J. Meyers sold 5,224 shares of the company's stock in a transaction on Wednesday, May 6th. The shares were sold at an average price of $1,085.23, for a total value of $5,669,241.52. Following the completion of the transaction, the chairman owned 7,370 shares in the company, valued at approximately $7,998,145.10. This represents a 41.48% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Raouf Abdel sold 2,040 shares of Equinix stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $1,083.47, for a total transaction of $2,210,278.80. Following the sale, the executive vice president owned 5,728 shares in the company, valued at $6,206,116.16. This represents a 26.26% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 11,115 shares of company stock worth $12,022,574 over the last 90 days. 0.27% of the stock is owned by corporate insiders.

Equinix Price Performance

Shares of EQIX opened at $1,020.00 on Friday. The firm has a market capitalization of $100.59 billion, a price-to-earnings ratio of 70.59, a PEG ratio of 1.89 and a beta of 0.98. The firm's fifty day simple moving average is $1,060.68 and its 200-day simple moving average is $976.83. Equinix, Inc. has a twelve month low of $720.62 and a twelve month high of $1,128.68. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 1.39.

Equinix (NASDAQ:EQIX - Get Free Report) last posted its quarterly earnings results 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 for the quarter, compared to analysts' expectations of $2.52 billion. During the same period last year, the firm earned $9.67 earnings per share. Equinix's quarterly revenue was up 9.8% on a year-over-year basis. Equinix has set its FY 2026 guidance at 42.310-43.110 EPS. Equities analysts forecast that Equinix, Inc. will post 38.25 EPS for the current fiscal year.

Equinix Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 17th. Shareholders of record on Wednesday, May 20th were issued 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 yield of 2.0%. Equinix's dividend payout ratio (DPR) is presently 142.84%.

About Equinix

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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