Global Retirement Partners LLC Acquires 1,853 Shares of Equinix, Inc. $EQIX

Key Points

• Global Retirement Partners LLC increased its Equinix stake by 221.9% in the fourth quarter, adding 1,853 shares and bringing its total holdings to 2,688 shares worth about $2.06 million.
• Wall Street remains constructive on Equinix, with several analysts raising price targets and the stock carrying a Moderate Buy consensus rating and average target price of $1,143.60.
• Equinix reported strong quarterly results, including EPS of $10.79 versus estimates of $4.30, and it also declared a quarterly dividend of $5.16 per share, yielding about 1.9% annualized.

Global Retirement Partners LLC grew its holdings in shares of Equinix, Inc. (NASDAQ:EQIX - Free Report) by 221.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,688 shares of the financial services provider's stock after acquiring an additional 1,853 shares during the period. Global Retirement Partners LLC's holdings in Equinix were worth $2,059,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of EQIX. Ameriflex Group Inc. grew its position in shares of Equinix by 433.3% during the 3rd quarter. Ameriflex Group Inc. now owns 32 shares of the financial services provider's stock valued at $25,000 after acquiring an additional 26 shares during the period. Princeton Global Asset Management LLC grew its position in shares of Equinix by 200.0% during the 4th quarter. Princeton Global Asset Management LLC now owns 42 shares of the financial services provider's stock valued at $32,000 after acquiring an additional 28 shares during the period. WPG Advisers LLC grew its position 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 valued at $34,000 after acquiring an additional 15 shares during the period. Cornerstone Planning Group LLC grew its position in shares of Equinix by 40.6% during the 3rd quarter. Cornerstone Planning Group LLC now owns 45 shares of the financial services provider's stock valued at $37,000 after acquiring an additional 13 shares during the period. Finally, Activest Wealth Management boosted its holdings in 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 period. Institutional investors own 94.94% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Truist Financial set a $1,215.00 target price on shares of Equinix in a report on Friday, May 1st. Morgan Stanley upped their target price on shares of Equinix from $1,075.00 to $1,250.00 and gave the stock an "overweight" rating in a report on Monday, April 13th. Raymond James Financial raised shares of Equinix from a "market perform" rating to a "strong-buy" rating and set a $1,250.00 target price for the company in a report on Thursday, April 30th. Scotiabank upped their target price on shares of Equinix from $1,050.00 to $1,120.00 and gave the stock a "sector perform" rating in a report on Thursday, April 30th. Finally, Weiss Ratings raised shares of Equinix from a "hold (c+)" rating to a "buy (b-)" rating in a report on Thursday, May 7th. Three 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. According to data from MarketBeat.com, Equinix has an average rating of "Moderate Buy" and a consensus target price of $1,143.60.

Insiders Place Their Bets

In other Equinix news, Director Christopher B. Paisley sold 125 shares of the business's stock in a transaction on Monday, May 18th. The shares were sold at an average price of $1,060.29, for a total value of $132,536.25. Following the sale, the director owned 17,557 shares in the company, valued at $18,615,511.53. The trade was a 0.71% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Adaire Fox-Martin sold 1,086 shares of the business's stock in a transaction on Thursday, March 12th. The stock was sold at an average price of $966.20, for a total transaction of $1,049,293.20. Following the completion of the sale, the chief executive officer owned 19,574 shares in the company, valued at approximately $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 90 days, insiders have sold 11,729 shares of company stock worth $11,980,800. 0.27% of the stock is owned by corporate insiders.

Equinix Trading Up 0.1%

Shares of Equinix stock opened at $1,079.79 on Friday. The company has a market capitalization of $106.49 billion, a P/E ratio of 74.73, a P/E/G ratio of 2.03 and a beta of 1.01. The company has a debt-to-equity ratio of 1.39, a quick ratio of 1.18 and a current ratio of 1.18. The company has a fifty day moving average of $1,037.82 and a 200 day moving average of $895.60. Equinix, Inc. has a fifty-two week low of $710.52 and a fifty-two week high of $1,128.68.

Equinix (NASDAQ:EQIX - Get Free Report) last announced 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 business had revenue of $2.44 billion for the quarter, compared to analysts' expectations of $2.52 billion. Equinix had a net margin of 15.07% and a return on equity of 10.03%. The business's quarterly revenue was up 9.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $9.67 EPS. Equinix has set its FY 2026 guidance at 42.310-43.110 EPS. On average, sell-side analysts anticipate that Equinix, Inc. will post 37.72 earnings per share for the current fiscal year.

Equinix Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 17th. Shareholders of record on Wednesday, May 20th will be paid a $5.16 dividend. The ex-dividend date is Wednesday, May 20th. This represents a $20.64 annualized dividend 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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