Fred Alger Management LLC Sells 32,268 Shares of Equinix, Inc. $EQIX

Key Points

• Fred Alger Management LLC reduced its holdings in Equinix, Inc. (NASDAQ:EQIX) by 48.3% in the first quarter, selling 32,268 shares, leaving them with 34,582 shares valued at approximately $28.2 million.
• Equinix reported earnings of $9.91 per share for the last quarter, significantly surpassing the consensus estimate of $3.49, and had revenue of $2.26 billion, reflecting a 4.5% year-over-year increase.
• The company recently announced a quarterly dividend of $4.69 per share, to be paid on September 17th, with a current dividend yield of 2.4%.

Fred Alger Management LLC cut its stake in shares of Equinix, Inc. (NASDAQ:EQIX - Free Report) by 48.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 34,582 shares of the financial services provider's stock after selling 32,268 shares during the period. Fred Alger Management LLC's holdings in Equinix were worth $28,196,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of EQIX. Brighton Jones LLC increased its position in shares of Equinix by 28.9% during the fourth quarter. Brighton Jones LLC now owns 326 shares of the financial services provider's stock valued at $307,000 after buying an additional 73 shares during the period. Bank Pictet & Cie Europe AG bought a new stake in shares of Equinix during the fourth quarter valued at about $2,027,000. Cary Street Partners Financial LLC bought a new stake in shares of Equinix during the fourth quarter valued at about $52,000. Cetera Investment Advisers increased its position in shares of Equinix by 7.3% during the fourth quarter. Cetera Investment Advisers now owns 9,320 shares of the financial services provider's stock valued at $8,788,000 after buying an additional 634 shares during the period. Finally, DigitalBridge Group Inc. increased its position in shares of Equinix by 8.4% during the fourth quarter. DigitalBridge Group Inc. now owns 197,696 shares of the financial services provider's stock valued at $186,406,000 after buying an additional 15,344 shares during the period. 94.94% of the stock is currently owned by institutional investors.

Equinix Price Performance

EQIX traded down $8.59 during midday trading on Friday, hitting $788.89. The stock had a trading volume of 231,913 shares, compared to its average volume of 603,021. The company has a market cap of $77.20 billion, a P/E ratio of 77.27, a price-to-earnings-growth ratio of 1.39 and a beta of 0.92. The business has a fifty day moving average of $779.35 and a 200 day moving average of $824.33. The company has a debt-to-equity ratio of 1.29, a quick ratio of 1.54 and a current ratio of 1.54. Equinix, Inc. has a 1 year low of $701.41 and a 1 year high of $994.03.

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 the consensus estimate of $3.49 by $6.42. The business had revenue of $2.26 billion during the quarter, compared to analyst estimates of $2.26 billion. Equinix had a return on equity of 7.22% and a net margin of 11.11%.Equinix's revenue for the quarter was up 4.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $9.22 earnings per share. Equinix has set its Q3 2025 guidance at EPS. FY 2025 guidance at 37.670-38.480 EPS. As a group, equities analysts forecast that Equinix, Inc. will post 33.1 earnings per share for the current fiscal year.

Equinix Announces Dividend

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

Insider Activity at Equinix

In other Equinix news, EVP Raouf Abdel sold 404 shares of the business's stock in a transaction that occurred on Tuesday, September 9th. The stock was sold at an average price of $771.11, for a total value of $311,528.44. Following the completion of the sale, the executive vice president owned 6,378 shares in the company, valued at approximately $4,918,139.58. The trade was a 5.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Christopher B. Paisley sold 75 shares of the business's stock in a transaction that occurred on Monday, August 18th. The shares were 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 $13,935,708. The trade was a 0.42% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.27% of the company's stock.

Wall Street Analyst Weigh In

EQIX has been the subject of several recent analyst reports. Scotiabank cut their price objective on Equinix from $1,030.00 to $965.00 and set a "sector outperform" rating for the company in a report on Thursday, June 26th. Cfra Research lowered Equinix from a "moderate buy" rating to a "hold" rating in a report on Thursday, July 31st. Cowen reissued a "buy" rating on shares of Equinix in a report on Thursday, July 3rd. JPMorgan Chase & Co. boosted their price objective on Equinix from $935.00 to $940.00 and gave the stock an "overweight" rating in a report on Thursday, July 31st. Finally, Stifel Nicolaus cut their price objective on Equinix from $1,050.00 to $1,010.00 and set a "buy" rating for the company in a report on Thursday, June 26th. Five equities research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average price target of $962.52.

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.