Rafferty Asset Management LLC Has $8.65 Million Stock Holdings in Equinix, Inc. $EQIX

Key Points

• Rafferty Asset Management LLC reduced its holdings in Equinix, Inc. by 16.4%, owning 10,614 shares worth $8.65 million after selling 2,082 shares in the first quarter.
• Equinix recently reported earnings of $9.91 per share, which exceeded analysts' expectations and marked a 4.5% increase in year-over-year revenue.
• The company announced a quarterly dividend of $4.69 per share, representing a 2.4% yield and a payout ratio of 183.74%.

Rafferty Asset Management LLC cut its holdings in shares of Equinix, Inc. (NASDAQ:EQIX - Free Report) by 16.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,614 shares of the financial services provider's stock after selling 2,082 shares during the quarter. Rafferty Asset Management LLC's holdings in Equinix were worth $8,654,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in EQIX. Brighton Jones LLC increased its holdings in shares of Equinix by 28.9% during the 4th quarter. Brighton Jones LLC now owns 326 shares of the financial services provider's stock worth $307,000 after acquiring an additional 73 shares during the last quarter. Bank Pictet & Cie Europe AG bought a new stake in Equinix in the 4th quarter valued at $2,027,000. Integrated Wealth Concepts LLC boosted its stake in Equinix by 8.1% in the 4th quarter. Integrated Wealth Concepts LLC now owns 468 shares of the financial services provider's stock valued at $441,000 after purchasing an additional 35 shares during the period. Lido Advisors LLC boosted its stake in Equinix by 169.4% in the 4th quarter. Lido Advisors LLC now owns 2,425 shares of the financial services provider's stock valued at $2,287,000 after purchasing an additional 1,525 shares during the period. Finally, AQR Capital Management LLC boosted its stake in Equinix by 16.1% in the 4th quarter. AQR Capital Management LLC now owns 47,059 shares of the financial services provider's stock valued at $44,220,000 after purchasing an additional 6,512 shares during the period. 94.94% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on EQIX. Truist Financial boosted their price target on Equinix from $904.00 to $961.00 and gave the company a "buy" rating in a research note on Thursday, August 7th. Wolfe Research downgraded Equinix from an "outperform" rating to a "peer perform" rating in a research note on Monday, June 9th. Wall Street Zen downgraded Equinix from a "hold" rating to a "sell" rating in a research note on Saturday, August 16th. Cfra Research downgraded Equinix from a "moderate buy" rating to a "hold" rating in a research note on Thursday, July 31st. Finally, JMP Securities reiterated a "market outperform" rating and set a $1,200.00 target price on shares of Equinix in a research report on Tuesday, July 22nd. Five research 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 company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of $962.52.

Equinix Price Performance

EQIX traded down $0.16 on Monday, reaching $786.19. The stock had a trading volume of 321,930 shares, compared to its average volume of 389,100. Equinix, Inc. has a fifty-two week low of $701.41 and a fifty-two week high of $994.03. The firm has a 50-day moving average of $786.16 and a 200-day moving average of $832.52. The company has a current ratio of 1.54, a quick ratio of 1.54 and a debt-to-equity ratio of 1.29. The company has a market capitalization of $76.94 billion, a price-to-earnings ratio of 77.00, a price-to-earnings-growth ratio of 1.40 and a beta of 0.92.

Equinix (NASDAQ:EQIX - Get Free Report) last issued its earnings results on Wednesday, July 30th. The financial services provider reported $9.91 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.49 by $6.42. Equinix had a return on equity of 7.22% and a net margin of 11.11%.The business had revenue of $2.26 billion during the quarter, compared to analysts' expectations of $2.26 billion. During the same quarter in the prior year, the firm earned $9.22 EPS. The business's revenue for the quarter was up 4.5% compared to the same quarter last year. Equinix has set its Q3 2025 guidance at EPS. FY 2025 guidance at 37.670-38.480 EPS. As a group, sell-side analysts anticipate that Equinix, Inc. will post 33.1 EPS for the current year.

Equinix Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 17th. Shareholders of record on Wednesday, August 20th will be issued a $4.69 dividend. This represents a $18.76 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend is Wednesday, August 20th. Equinix's dividend payout ratio is presently 183.74%.

Insider Transactions at Equinix

In other news, Director Christopher B. Paisley sold 75 shares of the stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $781.50, for a total value of $58,612.50. Following the completion of the sale, the director owned 17,832 shares of the company's stock, valued at approximately $13,935,708. This represents a 0.42% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Adaire Fox-Martin sold 2,949 shares of the stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $884.91, for a total value of $2,609,599.59. Following the completion of the sale, the chief executive officer directly owned 9,615 shares of the company's stock, valued at approximately $8,508,409.65. The trade was a 23.47% decrease in their position. The disclosure for this sale can be found here. 0.27% of the stock is owned by corporate insiders.

Equinix Profile

Equinix Nasdaq: EQIX is the world's digital infrastructure company . Digital leaders harness Equinix's trusted platform to bring together and interconnect foundational infrastructure at software speed. Equinix enables organizations to access all the right places, partners and possibilities to scale with agility, speed the launch of digital services, deliver world-class experiences and multiply their value, while supporting their sustainability goals.