Equinix, Inc. $EQIX Stock Position Reduced by Teachers Retirement System of The State of Kentucky

Key Points

• Teachers Retirement System of the State of Kentucky cut its Equinix stake by 16.9% in the first quarter, selling 4,064 shares and ending with 19,939 shares valued at about $19.5 million.
• Wall Street remains broadly positive on Equinix, with multiple firms raising price targets and the stock carrying a Moderate Buy consensus rating and an average target of $1,155.64.
• Equinix reported strong quarterly earnings of $10.79 per share, well above estimates, while revenue rose 9.8% year over year; the company also paid a quarterly dividend of $5.16 per share, though its payout ratio is elevated.

Teachers Retirement System of The State of Kentucky lessened its stake in Equinix, Inc. (NASDAQ:EQIX - Free Report) by 16.9% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 19,939 shares of the financial services provider's stock after selling 4,064 shares during the quarter. Teachers Retirement System of The State of Kentucky's holdings in Equinix were worth $19,545,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of EQIX. Avion Wealth increased its stake in shares of Equinix by 73.3% in the first quarter. Avion Wealth now owns 26 shares of the financial services provider's stock worth $25,000 after acquiring an additional 11 shares during the last quarter. Kemnay Advisory Services Inc. purchased a new position in Equinix in the fourth quarter valued at about $30,000. Princeton Global Asset Management LLC increased its position in Equinix by 200.0% in the 4th quarter. Princeton Global Asset Management LLC now owns 42 shares of the financial services provider's stock worth $32,000 after purchasing an additional 28 shares during the last quarter. Physician Wealth Advisors Inc. increased its position in Equinix by 266.7% in the 1st quarter. Physician Wealth Advisors Inc. now owns 33 shares of the financial services provider's stock worth $32,000 after purchasing an additional 24 shares during the last quarter. Finally, WPG Advisers LLC raised its stake in shares of Equinix by 51.7% during the 4th quarter. WPG Advisers LLC now owns 44 shares of the financial services provider's stock worth $34,000 after purchasing an additional 15 shares in the last quarter. Institutional investors and hedge funds own 94.94% of the company's stock.

Wall Street Analyst Weigh In

EQIX has been the subject of several research reports. Raymond James Financial upgraded Equinix from a "market perform" rating to a "strong-buy" rating and set a $1,250.00 price target for the company in a report on Thursday, April 30th. JPMorgan Chase & Co. raised their price objective on shares of Equinix from $1,100.00 to $1,200.00 and gave the company an "overweight" rating in a research report on Thursday, April 30th. Guggenheim reiterated a "buy" rating and issued a $1,235.00 target price on shares of Equinix in a research note on Wednesday, May 20th. TD Cowen boosted their target price on shares of Equinix from $1,123.00 to $1,143.00 and gave the stock a "buy" rating in a research report on Thursday, April 30th. Finally, Wells Fargo & Company increased their price target on shares of Equinix from $975.00 to $1,200.00 and gave the stock an "overweight" rating in a research note on Tuesday, April 21st. Three investment analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $1,155.64.

Equinix Trading Down 1.1%

Shares of EQIX stock opened at $1,039.53 on Tuesday. Equinix, Inc. has a 12 month low of $720.62 and a 12 month high of $1,128.68. The company has a market cap of $102.52 billion, a PE ratio of 71.94, a price-to-earnings-growth ratio of 1.95 and a beta of 0.98. 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 $1,065.29 and its two-hundred day moving average is $971.05.

Equinix (NASDAQ:EQIX - Get Free Report) last issued its quarterly earnings data 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 net margin of 15.07% and a return on equity of 10.03%. The business had revenue of $2.44 billion during the quarter, compared to analysts' expectations of $2.52 billion. During the same period in the previous year, the company earned $9.67 earnings per share. Equinix's revenue for the quarter 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 predict that Equinix, Inc. will post 38.26 EPS for the current year.

Equinix Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 17th. Stockholders of record on Wednesday, May 20th were paid a $5.16 dividend. The ex-dividend date was Wednesday, May 20th. This represents a $20.64 dividend on an annualized basis and a dividend yield of 2.0%. Equinix's payout ratio is presently 142.84%.

Insiders Place Their Bets

In related news, insider Brandi Galvin Morandi sold 3,726 shares of the business's stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $1,076.36, for a total transaction of $4,010,517.36. Following the completion of the transaction, the insider owned 6,132 shares of the company's stock, valued at approximately $6,600,239.52. The trade was a 37.80% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Raouf Abdel sold 2,040 shares of the stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $1,083.47, for a total value of $2,210,278.80. Following the sale, the executive vice president owned 5,728 shares of the company's stock, valued at approximately $6,206,116.16. The trade was a 26.26% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 11,115 shares of company stock valued at $12,022,574. Company insiders own 0.27% of the company's stock.

Equinix Company 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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