FLC Capital Advisors Takes $302,000 Position in Equinix, Inc. $EQIX

Key Points

• FLC Capital Advisors acquired a new stake in Equinix, Inc., purchasing 380 shares valued at approximately $302,000 in the second quarter of 2023.
• Institutional investors hold a significant majority, owning 94.94% of Equinix, with other notable investors including Valeo Financial Advisors, which increased its position by 298,148.6%.
• Equinix's most recent earnings report showed an earnings per share of $9.91, significantly surpassing the consensus estimate of $3.49, and indicating a 4.5% revenue growth year-over-year.

FLC Capital Advisors bought a new stake in Equinix, Inc. (NASDAQ:EQIX - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 380 shares of the financial services provider's stock, valued at approximately $302,000.

Several other institutional investors and hedge funds have also bought and sold shares of EQIX. Valeo Financial Advisors LLC lifted its position in Equinix by 298,148.6% during the second quarter. Valeo Financial Advisors LLC now owns 8,157,100 shares of the financial services provider's stock worth $6,488,728,000 after purchasing an additional 8,154,365 shares during the period. Nuveen LLC bought a new stake in Equinix during the first quarter worth about $662,663,000. JPMorgan Chase & Co. lifted its position in Equinix by 22.5% during the first quarter. JPMorgan Chase & Co. now owns 1,590,568 shares of the financial services provider's stock worth $1,296,871,000 after purchasing an additional 291,753 shares during the period. National Bank of Canada FI lifted its position in Equinix by 169.7% during the first quarter. National Bank of Canada FI now owns 394,223 shares of the financial services provider's stock worth $321,427,000 after purchasing an additional 248,075 shares during the period. Finally, Vanguard Group Inc. lifted its position in Equinix by 1.9% during the first quarter. Vanguard Group Inc. now owns 12,906,820 shares of the financial services provider's stock worth $10,523,576,000 after purchasing an additional 242,121 shares during the period. Institutional investors own 94.94% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on EQIX. Stifel Nicolaus cut their price objective on shares of Equinix from $1,050.00 to $1,010.00 and set a "buy" rating for the company in a research report on Thursday, June 26th. UBS Group lowered their target price on Equinix from $1,035.00 to $950.00 and set a "buy" rating for the company in a research note on Friday, July 11th. JPMorgan Chase & Co. boosted their target price on Equinix from $935.00 to $940.00 and gave the stock an "overweight" rating in a research note on Thursday, July 31st. Cfra Research downgraded Equinix from a "moderate buy" rating to a "hold" rating in a research note on Thursday, July 31st. Finally, Zacks Research raised Equinix from a "hold" rating to a "strong-buy" rating in a research note on Friday, October 10th. Five 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. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $960.14.

Equinix Stock Performance

Equinix stock opened at $813.93 on Monday. The business has a 50 day moving average of $786.53 and a 200-day moving average of $812.61. Equinix, Inc. has a 1 year low of $701.41 and a 1 year high of $994.03. The company has a debt-to-equity ratio of 1.29, a current ratio of 1.54 and a quick ratio of 1.54. The company has a market capitalization of $79.65 billion, a P/E ratio of 79.72, a P/E/G ratio of 1.41 and a beta of 0.92.

Equinix (NASDAQ:EQIX - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The financial services provider reported $9.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.49 by $6.42. Equinix had a return on equity of 7.22% and a net margin of 11.11%.The company had revenue of $2.26 billion during the quarter, compared to the consensus estimate of $2.26 billion. During the same quarter in the prior year, the firm posted $9.22 earnings per share. The firm's revenue 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. On average, equities research analysts predict that Equinix, Inc. will post 33.1 earnings per share for the current year.

Equinix Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 17th. Stockholders of record on Wednesday, August 20th were paid a $4.69 dividend. The ex-dividend date of this dividend was Wednesday, August 20th. This represents a $18.76 annualized dividend and a dividend yield of 2.3%. Equinix's dividend payout ratio is currently 183.74%.

Insider Activity at Equinix

In other Equinix news, Director Christopher B. Paisley sold 75 shares of the stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $781.50, for a total transaction 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 position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Raouf Abdel sold 404 shares of the stock in a transaction that occurred on Tuesday, September 9th. The shares were sold at an average price of $771.11, for a total transaction of $311,528.44. Following the sale, the executive vice president directly owned 6,378 shares of the company's stock, valued at $4,918,139.58. This represents a 5.96% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.27% of the company's stock.

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.

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