Equinix, Inc. $EQIX Shares Purchased by Crossmark Global Holdings Inc.

Key Points

• Crossmark Global Holdings increased its Equinix stake by 59.9% in the fourth quarter, buying 1,918 additional shares and bringing its total to 5,122 shares worth about $3.92 million.
• Analysts remain generally positive on Equinix, with a Moderate Buy consensus and an average price target of $1,143.60. Several firms recently lifted targets, including Morgan Stanley to $1,250 and Evercore to $1,240.
• Equinix reported strong quarterly earnings of $10.79 per share, well above estimates, and also announced a quarterly dividend of $5.16 per share payable June 17.

Crossmark Global Holdings Inc. lifted its stake in shares of Equinix, Inc. (NASDAQ:EQIX - Free Report) by 59.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 5,122 shares of the financial services provider's stock after purchasing an additional 1,918 shares during the quarter. Crossmark Global Holdings Inc.'s holdings in Equinix were worth $3,924,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of EQIX. Quent Capital LLC increased its holdings in Equinix by 4.2% during the 3rd quarter. Quent Capital LLC now owns 298 shares of the financial services provider's stock valued at $233,000 after acquiring an additional 12 shares in the last quarter. Paragon Private Wealth Management LLC raised its holdings in Equinix by 2.7% in the 3rd quarter. Paragon Private Wealth Management LLC now owns 495 shares of the financial services provider's stock valued at $388,000 after acquiring an additional 13 shares during the last quarter. Cornerstone Planning Group LLC increased its stake in Equinix by 40.6% in 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 last quarter. Crestwood Advisors Group LLC lifted its holdings in shares of Equinix by 3.7% during the 4th quarter. Crestwood Advisors Group LLC now owns 397 shares of the financial services provider's stock worth $304,000 after acquiring an additional 14 shares during the period. Finally, Howard Capital Management Inc. raised its stake in Equinix by 2.3% during the third quarter. Howard Capital Management Inc. now owns 664 shares of the financial services provider's stock worth $520,000 after purchasing an additional 15 shares during the period. 94.94% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently weighed in on EQIX. Wall Street Zen raised Equinix from a "sell" rating to a "hold" rating in a research note on Saturday, May 2nd. Morgan Stanley raised their target price on Equinix from $1,075.00 to $1,250.00 and gave the company an "overweight" rating in a research note on Monday, April 13th. Scotiabank raised their price target on shares of Equinix from $1,050.00 to $1,120.00 and gave the stock a "sector perform" rating in a research report on Thursday, April 30th. Zacks Research raised Equinix from a "hold" rating to a "strong-buy" rating in a report on Thursday, April 9th. Finally, Evercore reiterated an "outperform" rating and set a $1,240.00 target price on shares of Equinix in a research note on Tuesday, April 28th. Four equities research analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $1,143.60.

Insider Buying and Selling

In other news, Chairman Charles J. Meyers sold 5,224 shares of the stock in a transaction on Wednesday, May 6th. The stock was sold at an average price of $1,085.23, for a total transaction of $5,669,241.52. Following the completion of the sale, 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jonathan Lin sold 635 shares of the business's stock in a transaction on Thursday, March 12th. The stock was sold at an average price of $965.71, for a total value of $613,225.85. Following the sale, the insider directly owned 10,788 shares in the company, valued at $10,418,079.48. This trade represents a 5.56% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 11,604 shares of company stock valued at $11,848,264 in the last three months. Insiders own 0.27% of the company's stock.

Equinix Price Performance

Equinix stock opened at $1,072.08 on Monday. Equinix, Inc. has a 52 week low of $710.52 and a 52 week 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. The stock has a market cap of $105.73 billion, a price-to-earnings ratio of 74.19, a PEG ratio of 2.02 and a beta of 1.01. The company's 50-day moving average price is $1,013.11 and its two-hundred day moving average price is $877.22.

Equinix (NASDAQ:EQIX - Get Free Report) last released its earnings results on Wednesday, April 29th. The financial services provider reported $10.79 earnings per share for the quarter, topping 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 firm had revenue of $2.44 billion during the quarter, compared to the consensus estimate of $2.52 billion. During the same period in the prior year, the firm posted $9.67 earnings per share. The firm'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, analysts expect that Equinix, Inc. will post 37.72 EPS for the current fiscal year.

Equinix Announces Dividend

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