Equinix, Inc. $EQIX Shares Sold by Vectors Research Management LLC

Key Points

• Vectors Research Management LLC cut its Equinix stake by 36.9% in the first quarter, selling 1,505 shares and leaving it with 2,570 shares worth about $2.52 million.
• Several insiders sold stock recently, including Chairman Charles J. Meyers and Director Christopher B. Paisley; insiders have sold 11,115 shares worth roughly $12.0 million over the last 90 days.
• Equinix reported better-than-expected earnings of $10.79 per share for the quarter, though revenue of $2.44 billion came in below estimates; analysts remain broadly positive with a consensus Moderate Buy rating and a $1,155.64 price target.

Vectors Research Management LLC trimmed its stake in Equinix, Inc. (NASDAQ:EQIX - Free Report) by 36.9% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,570 shares of the financial services provider's stock after selling 1,505 shares during the quarter. Vectors Research Management LLC's holdings in Equinix were worth $2,519,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the company. Douglas Lane & Associates LLC grew its position in Equinix by 3.9% in the fourth quarter. Douglas Lane & Associates LLC now owns 112,030 shares of the financial services provider's stock worth $85,833,000 after acquiring an additional 4,241 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in Equinix by 6.3% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 52,265 shares of the financial services provider's stock valued at $40,043,000 after buying an additional 3,108 shares during the last quarter. Vanderbilt University increased its position in Equinix by 65.9% during the fourth quarter. Vanderbilt University now owns 10,298 shares of the financial services provider's stock worth $7,890,000 after acquiring an additional 4,089 shares during the period. Perigon Wealth Management LLC raised its position in shares of Equinix by 141.1% during the fourth quarter. Perigon Wealth Management LLC now owns 3,178 shares of the financial services provider's stock valued at $2,435,000 after buying an additional 1,860 shares during the last quarter. Finally, Generali Investments CEE investicni spolecnost a.s. raised its holdings in Equinix by 305.7% in the 4th quarter. Generali Investments CEE investicni spolecnost a.s. now owns 11,766 shares of the financial services provider's stock valued at $9,015,000 after acquiring an additional 8,866 shares in the last quarter. Institutional investors and hedge funds own 94.94% of the company's stock.

Insider Transactions at Equinix

In other Equinix 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 transaction, the chairman owned 7,370 shares in the company, valued at $7,998,145.10. This trade represents a 41.48% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Christopher B. Paisley sold 125 shares of the firm's stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $1,060.29, for a total transaction of $132,536.25. Following the transaction, the director directly 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 disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 11,115 shares of company stock valued at $12,022,574. 0.27% of the stock is currently owned by company insiders.

Equinix Trading Down 0.1%

Shares of Equinix stock opened at $1,022.60 on Thursday. 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 business's 50 day moving average is $1,062.87 and its 200-day moving average is $974.79. Equinix, Inc. has a 12-month low of $720.62 and a 12-month high of $1,128.68. The stock has a market cap of $100.85 billion, a P/E ratio of 70.77, a P/E/G ratio of 1.90 and a beta of 0.98.

Equinix (NASDAQ:EQIX - Get Free Report) last posted its quarterly earnings results on Wednesday, April 29th. The financial services provider reported $10.79 EPS 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 business had revenue of $2.44 billion during the quarter, compared to analysts' expectations of $2.52 billion. During the same quarter last year, the company posted $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 research analysts predict that Equinix, Inc. will post 38.26 earnings per share 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 given a dividend of $5.16 per share. The ex-dividend date was Wednesday, May 20th. This represents a $20.64 annualized dividend and a yield of 2.0%. Equinix's dividend payout ratio (DPR) is 142.84%.

Analyst Ratings Changes

EQIX has been the topic of a number of recent research reports. Guggenheim reaffirmed a "buy" rating and set a $1,235.00 price objective on shares of Equinix in a report on Wednesday, May 20th. Morgan Stanley increased their price target on shares of Equinix from $1,075.00 to $1,250.00 and gave the company an "overweight" rating in a research note on Monday, April 13th. HSBC lifted their price objective on Equinix from $1,100.00 to $1,250.00 and gave the stock a "buy" rating in a research report on Monday, April 27th. JPMorgan Chase & Co. lifted their target price on shares of Equinix from $1,100.00 to $1,200.00 and gave the stock an "overweight" rating in a report on Thursday, April 30th. Finally, Mizuho boosted their target price on Equinix from $1,165.00 to $1,200.00 and gave the stock an "outperform" rating in a research report on Thursday, May 7th. Three equities 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. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $1,155.64.

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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