Equinix, Inc. $EQIX Shares Sold by Prudential PLC

Key Points

• Prudential PLC cut its Equinix stake by 88.2% in the fourth quarter, selling 22,466 shares and ending with 2,998 shares valued at about $2.3 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.
• Wall Street remains broadly positive on the stock, with a Moderate Buy consensus rating and an average price target of $1,143.60; Equinix also announced a quarterly dividend of $5.16 per share.

Prudential PLC lessened its holdings in Equinix, Inc. (NASDAQ:EQIX - Free Report) by 88.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,998 shares of the financial services provider's stock after selling 22,466 shares during the period. Prudential PLC's holdings in Equinix were worth $2,297,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of EQIX. Vanguard Group Inc. lifted its stake in Equinix by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 13,398,906 shares of the financial services provider's stock valued at $10,265,706,000 after buying an additional 107,227 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 in the last quarter. Geode Capital Management LLC raised its holdings in shares of Equinix by 1.0% in the fourth quarter. Geode Capital Management LLC now owns 2,567,830 shares of the financial services provider's stock worth $1,959,731,000 after acquiring an additional 25,383 shares during the last quarter. Norges Bank purchased a new stake in shares of Equinix in the fourth quarter valued at $984,355,000. Finally, Legal & General Group Plc lifted its position in shares of Equinix by 10.5% in the fourth quarter. Legal & General Group Plc now owns 1,235,674 shares of the financial services provider's stock valued at $946,724,000 after acquiring an additional 117,101 shares in the last quarter. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Scotiabank lifted their price objective on 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. Truist Financial set a $1,215.00 price target on shares of Equinix in a research note on Friday, May 1st. Zacks Research downgraded shares of Equinix from a "strong-buy" rating to a "hold" rating in a report on Friday, May 15th. Wall Street Zen raised shares of Equinix from a "sell" rating to a "hold" rating in a research report on Saturday, May 2nd. Finally, The Goldman Sachs Group upped their price objective on shares of Equinix from $894.00 to $1,015.00 and gave the company a "neutral" rating in a research note on Thursday, April 30th. Three investment analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, Equinix presently has a consensus rating of "Moderate Buy" and a consensus target price of $1,143.60.

Equinix Price Performance

Shares of NASDAQ:EQIX opened at $1,080.95 on Monday. The stock's 50-day moving average price is $1,058.36 and its two-hundred day moving average price is $914.55. 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, Inc. has a 12-month low of $710.52 and a 12-month high of $1,128.68. The firm has a market cap of $106.60 billion, a price-to-earnings ratio of 74.81, a PEG ratio of 2.03 and a beta of 0.99.

Equinix (NASDAQ:EQIX - Get Free Report) last posted its quarterly earnings data on Wednesday, April 29th. The financial services provider reported $10.79 EPS for the quarter, beating analysts' consensus estimates of $4.30 by $6.49. The company had revenue of $2.44 billion during the quarter, compared to the consensus estimate of $2.52 billion. Equinix had a net margin of 15.07% and a return on equity of 10.03%. The company's quarterly revenue was up 9.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $9.67 EPS. Equinix has set its FY 2026 guidance at 42.310-43.110 EPS. On average, research analysts forecast 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 given a dividend of $5.16 per share. The ex-dividend date of this dividend is Wednesday, May 20th. This represents a $20.64 annualized dividend and a yield of 1.9%. Equinix's dividend payout ratio is 142.84%.

Insider Activity at Equinix

In other news, insider Brandi Galvin Morandi sold 630 shares of the company's stock in a transaction on Thursday, March 12th. The stock was sold at an average price of $961.19, for a total transaction of $605,549.70. Following the completion of the sale, the insider directly owned 10,394 shares in the company, valued at $9,990,608.86. This represents a 5.71% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Raouf Abdel sold 2,040 shares of the stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $1,083.47, for a total value of $2,210,278.80. Following the completion of the transaction, the executive vice president directly owned 5,728 shares in the company, valued at $6,206,116.16. This trade represents a 26.26% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 11,053 shares of company stock valued at $11,569,731 over the last 90 days. 0.27% of the stock is currently owned by insiders.

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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