Flputnam Investment Management Co. Sells 960 Shares of Equinix, Inc. $EQIX

Key Points

• Flputnam Investment Management cut its Equinix stake by 74.1% in the fourth quarter, selling 960 shares and leaving it with 335 shares worth about $257,000.
• Several other institutional investors increased their positions, and 94.94% of Equinix stock is owned by hedge funds and other institutions.
• Equinix posted strong quarterly results, with EPS of $10.79 topping estimates, and analysts remain broadly positive with a Moderate Buy consensus and an average price target of $1,143.60.

Flputnam Investment Management Co. reduced its position in shares of Equinix, Inc. (NASDAQ:EQIX - Free Report) by 74.1% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 335 shares of the financial services provider's stock after selling 960 shares during the quarter. Flputnam Investment Management Co.'s holdings in Equinix were worth $257,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in EQIX. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Equinix by 408.1% during the 3rd quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,186,497 shares of the financial services provider's stock valued at $929,312,000 after buying an additional 953,001 shares in the last quarter. SG Americas Securities LLC increased its position in shares of Equinix by 377,167.4% during the 4th quarter. SG Americas Securities LLC now owns 716,808 shares of the financial services provider's stock valued at $549,190,000 after purchasing an additional 716,618 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of Equinix by 25.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,875,355 shares of the financial services provider's stock valued at $2,252,094,000 after purchasing an additional 588,967 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Equinix by 1.2% during the 3rd quarter. Vanguard Group Inc. now owns 13,291,679 shares of the financial services provider's stock valued at $10,410,575,000 after purchasing an additional 162,638 shares during the last quarter. Finally, Woodline Partners LP increased its position in shares of Equinix by 1,512.2% during the 3rd quarter. Woodline Partners LP now owns 170,199 shares of the financial services provider's stock valued at $133,307,000 after purchasing an additional 159,642 shares during the last quarter. 94.94% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Jonathan Lin sold 635 shares of the company's stock in a transaction dated Thursday, March 12th. The shares were sold at an average price of $965.71, for a total value of $613,225.85. Following the completion of the sale, the insider directly owned 10,788 shares of the company's stock, valued at $10,418,079.48. This represents a 5.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Charles J. Meyers sold 5,224 shares of the company's stock in a transaction dated 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 completion of the sale, the chairman directly owned 7,370 shares of the company's stock, valued at approximately $7,998,145.10. This trade represents a 41.48% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 13,769 shares of company stock valued at $14,191,079 over the last 90 days. 0.27% of the stock is owned by insiders.

Wall Street Analyst Weigh In

EQIX has been the topic of several analyst reports. Barclays boosted their target price on Equinix from $1,020.00 to $1,109.00 and gave the company an "equal weight" rating in a research report on Thursday, April 16th. Citigroup reaffirmed an "outperform" rating on shares of Equinix in a research note on Thursday, April 30th. Sanford C. Bernstein assumed coverage on shares of Equinix in a research note on Thursday, March 5th. They set an "outperform" rating and a $1,128.00 price target for the company. Oppenheimer reaffirmed an "outperform" rating and set a $1,200.00 price target on shares of Equinix in a research note on Thursday, April 30th. Finally, Stifel Nicolaus set a $1,075.00 price target on shares of Equinix in a research note on Thursday, February 12th. Three analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $1,143.60.

Equinix Trading Down 0.1%

EQIX stock opened at $1,068.04 on Friday. The company has a market capitalization of $105.33 billion, a PE ratio of 73.91, a P/E/G ratio of 2.01 and a beta of 1.01. Equinix, Inc. has a 12 month low of $710.52 and a 12 month high of $1,128.68. The firm's 50-day moving average is $1,047.60 and its 200 day moving average is $904.25. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.18 and a quick ratio of 1.18.

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 the consensus estimate of $4.30 by $6.49. The company had revenue of $2.44 billion for 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 firm's revenue was up 9.8% compared to the same quarter last year. During the same quarter last year, the firm posted $9.67 EPS. Equinix has set its FY 2026 guidance at 42.310-43.110 EPS. On average, research analysts anticipate that Equinix, Inc. will post 37.72 EPS for the current year.

Equinix Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 17th. Investors of record on Wednesday, May 20th will be paid a $5.16 dividend. 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%.

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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