HighTower Advisors LLC Sells 4,352 Shares of Equinix, Inc. $EQIX

Key Points

• HighTower Advisors reduced its Equinix stake by 17.2% in the second quarter, selling 4,352 shares and retaining 20,947 shares valued at approximately $21.8 million. Institutional investors own 94.94% of the company.
• Wall Street maintains a favorable outlook, with a consensus rating of “Moderate Buy” and an average price target of $1,203.60; several analysts recently raised their targets.
• Equinix reported quarterly EPS of $11.78, far exceeding the $4.73 estimate, while revenue rose 16.4% year over year to $2.62 billion. The company also declared a quarterly dividend of $5.16 per share, representing a 2.0% annualized yield.

HighTower Advisors LLC trimmed its holdings in Equinix, Inc. (NASDAQ:EQIX - Free Report) by 17.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,947 shares of the financial services provider's stock after selling 4,352 shares during the period. HighTower Advisors LLC's holdings in Equinix were worth $21,835,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Elevation Wealth Partners LLC grew its holdings in Equinix by 166.7% during the 2nd quarter. Elevation Wealth Partners LLC now owns 24 shares of the financial services provider's stock valued at $25,000 after buying an additional 15 shares in the last quarter. Avion Wealth lifted its holdings in shares of Equinix by 73.3% in the first quarter. Avion Wealth now owns 26 shares of the financial services provider's stock worth $25,000 after buying an additional 11 shares in the last quarter. Physician Wealth Advisors Inc. lifted its holdings in shares of Equinix by 266.7% in the first quarter. Physician Wealth Advisors Inc. now owns 33 shares of the financial services provider's stock worth $32,000 after buying an additional 24 shares in the last quarter. Trust Co. of Vermont bought a new position in shares of Equinix during the second quarter worth $34,000. Finally, Kemnay Advisory Services Inc. bought a new position in shares of Equinix during the fourth quarter worth $30,000. 94.94% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Equinix

In other Equinix news, insider Kurt Pletcher sold 135 shares of the stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $1,075.50, for a total value of $145,192.50. Following the sale, the insider owned 4,077 shares in the company, valued at $4,384,813.50. This trade represents a 3.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Christopher B. Paisley sold 125 shares of the business's stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $1,103.58, for a total transaction of $137,947.50. Following the sale, the director directly owned 13,734 shares of the company's stock, valued at $15,156,567.72. This represents a 0.90% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 4,770 shares of company stock worth $4,884,197. 0.27% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

EQIX has been the topic of a number of research reports. Cantor Fitzgerald lifted their price target on shares of Equinix from $1,186.00 to $1,211.00 and gave the company an "overweight" rating in a report on Thursday, July 30th. Jefferies Financial Group reissued a "buy" rating and set a $1,340.00 price objective on shares of Equinix in a report on Thursday, July 30th. Barclays lifted their target price on Equinix from $1,130.00 to $1,135.00 and gave the stock an "equal weight" rating in a report on Tuesday. Zacks Research lowered Equinix from a "strong-buy" rating to a "hold" rating in a research note on Friday, May 15th. Finally, UBS Group lifted their price objective on Equinix from $1,210.00 to $1,265.00 and gave the stock a "buy" rating in a research note on Thursday, July 30th. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $1,203.60.

Equinix Stock Performance

Equinix stock opened at $1,041.21 on Wednesday. The company has a market cap of $102.74 billion, a PE ratio of 67.05, a price-to-earnings-growth ratio of 1.48 and a beta of 0.99. Equinix, Inc. has a twelve month low of $720.62 and a twelve month high of $1,128.68. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 1.44. The company's 50-day moving average price is $1,042.89 and its 200-day moving average price is $1,037.98.

Equinix (NASDAQ:EQIX - Get Free Report) last issued its quarterly earnings data on Wednesday, July 29th. The financial services provider reported $11.78 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.73 by $7.05. The business had revenue of $2.62 billion for the quarter, compared to the consensus estimate of $2.59 billion. Equinix had a return on equity of 10.76% and a net margin of 15.64%.The company's quarterly revenue was up 16.4% compared to the same quarter last year. During the same period in the prior year, the business posted $9.91 earnings per share. Equinix has set its FY 2026 guidance at 42.690-43.290 EPS. On average, equities research analysts forecast that Equinix, Inc. will post 38.23 EPS for the current fiscal year.

Equinix Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 16th. Stockholders of record on Wednesday, August 19th will be issued a $5.16 dividend. This represents a $20.64 annualized dividend and a dividend yield of 2.0%. The ex-dividend date is Wednesday, August 19th. Equinix's dividend payout ratio (DPR) is 132.90%.

Equinix Company Profile

Equinix, Inc is a global digital infrastructure company that operates data centers and provides interconnection and cloud connectivity services. Its facilities, known as International Business Exchange (IBX) data centers, enable businesses, cloud providers, network operators, financial institutions and other organizations to securely house technology infrastructure and exchange data.

The company's Platform Equinix services include colocation, private and public cloud connectivity, network interconnection, managed infrastructure and digital services.

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