Geode Capital Management LLC Increases Position in Equinix, Inc. $EQIX

Key Points

• Geode Capital Management increased its stake in Equinix by 1.0% in the fourth quarter, bringing its holdings to 2.57 million shares worth about $1.96 billion. Institutional investors now own 94.94% of the company.
• Analysts remain broadly positive on Equinix, with several firms raising price targets and Raymond James upgrading the stock to strong-buy. The consensus rating is Moderate Buy, with an average target price of $1,143.60.
• Equinix reported strong quarterly earnings, posting $10.79 EPS versus expectations of $4.30, though revenue came in slightly below estimates. The company also announced a quarterly dividend of $5.16 per share, payable June 17.

Geode Capital Management LLC lifted its holdings in Equinix, Inc. (NASDAQ:EQIX - Free Report) by 1.0% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,567,830 shares of the financial services provider's stock after buying an additional 25,383 shares during the period. Geode Capital Management LLC owned approximately 2.62% of Equinix worth $1,959,731,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of EQIX. Ameriflex Group Inc. boosted its stake in shares of Equinix by 433.3% in the 3rd quarter. Ameriflex Group Inc. now owns 32 shares of the financial services provider's stock worth $25,000 after buying an additional 26 shares during the last quarter. Princeton Global Asset Management LLC boosted its stake in shares of 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 buying an additional 28 shares during the last quarter. WPG Advisers LLC boosted its stake in shares of Equinix by 51.7% in the 4th quarter. WPG Advisers LLC now owns 44 shares of the financial services provider's stock worth $34,000 after buying an additional 15 shares during the last quarter. Cornerstone Planning Group LLC boosted its stake in shares of Equinix by 40.6% in the 3rd quarter. Cornerstone Planning Group LLC now owns 45 shares of the financial services provider's stock worth $37,000 after buying an additional 13 shares during the last quarter. Finally, Activest Wealth Management boosted its stake in shares of Equinix by 81.5% in the 4th quarter. Activest Wealth Management now owns 49 shares of the financial services provider's stock worth $38,000 after buying an additional 22 shares during the last quarter. Hedge funds and other institutional investors own 94.94% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on EQIX. Truist Financial set a $1,215.00 price target on shares of Equinix in a report on Friday, May 1st. Barclays lifted their price target on shares of Equinix from $1,020.00 to $1,109.00 and gave the stock an "equal weight" rating in a report on Thursday, April 16th. Raymond James Financial raised shares of Equinix from a "market perform" rating to a "strong-buy" rating and set a $1,250.00 price target on the stock in a report on Thursday, April 30th. Stifel Nicolaus set a $1,075.00 price target on shares of Equinix in a report on Thursday, February 12th. Finally, Mizuho lifted their price target on shares of Equinix from $1,165.00 to $1,200.00 and gave the stock an "outperform" rating in a report on Thursday, May 7th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and six have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $1,143.60.

Insider Buying and Selling at Equinix

In other Equinix news, Chairman Charles J. Meyers sold 5,224 shares of the business's stock in a transaction on Wednesday, May 6th. The shares were sold at an average price of $1,085.23, for a total transaction of $5,669,241.52. Following the sale, the chairman owned 7,370 shares of the company's stock, valued at $7,998,145.10. The trade was a 41.48% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Adaire Fox-Martin sold 1,086 shares of the business's stock in a transaction on Thursday, March 12th. The shares were sold at an average price of $966.20, for a total transaction of $1,049,293.20. Following the sale, the chief executive officer directly owned 19,574 shares in the company, valued at $18,912,398.80. The trade was a 5.26% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 13,769 shares of company stock worth $14,191,079. Company insiders own 0.27% of the company's stock.

Equinix Trading Down 0.1%

Shares of EQIX stock opened at $1,069.44 on Friday. The company's fifty day simple moving average is $1,045.71 and its two-hundred day simple moving average is $903.10. 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, Inc. has a 1 year low of $710.52 and a 1 year high of $1,128.68. The stock has a market capitalization of $105.47 billion, a price-to-earnings ratio of 74.01, a PEG ratio of 2.01 and a beta of 1.01.

Equinix (NASDAQ:EQIX - Get Free Report) last issued its earnings results on Wednesday, April 29th. The financial services provider reported $10.79 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analysts' expectations of $2.52 billion. During the same quarter in the previous year, the firm posted $9.67 EPS. The business's revenue for the quarter was up 9.8% compared to the same quarter last year. Equinix has set its FY 2026 guidance at 42.310-43.110 EPS. As a group, analysts anticipate that Equinix, Inc. will post 37.72 earnings per share for the current year.

Equinix Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 17th. Shareholders of record on Wednesday, May 20th will be issued a dividend of $5.16 per share. The ex-dividend date of this dividend is Wednesday, May 20th. This represents a $20.64 dividend on an annualized basis and a yield of 1.9%. Equinix's payout ratio is presently 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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