Intech Investment Management LLC Sells 54,335 Shares of Equinix, Inc. $EQIX

Key Points

• Intech Investment Management sharply reduced its Equinix stake in Q4, selling 54,335 shares and cutting its holdings by 69.6% to 23,756 shares worth about $18.2 million.
• Equinix’s latest earnings beat expectations on EPS but missed on revenue, while the company also raised its full-year guidance to 42.31–43.11 EPS.
• Analysts remain mostly positive on the stock, with a Moderate Buy consensus and an average price target of $1,143.60; Equinix also announced a quarterly dividend of $5.16 per share.

Intech Investment Management LLC cut its holdings in shares of Equinix, Inc. (NASDAQ:EQIX - Free Report) by 69.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,756 shares of the financial services provider's stock after selling 54,335 shares during the period. Intech Investment Management LLC's holdings in Equinix were worth $18,201,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of EQIX. Ameriflex Group Inc. boosted its holdings 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 last quarter. Princeton Global Asset Management LLC raised its holdings in shares of Equinix by 200.0% during the fourth quarter. Princeton Global Asset Management LLC now owns 42 shares of the financial services provider's stock valued at $32,000 after purchasing an additional 28 shares during the last quarter. WPG Advisers LLC lifted its position in Equinix by 51.7% during the fourth quarter. WPG Advisers LLC now owns 44 shares of the financial services provider's stock valued at $34,000 after purchasing an additional 15 shares during the period. Cornerstone Planning Group LLC boosted its holdings in Equinix by 40.6% in the third quarter. Cornerstone Planning Group LLC now owns 45 shares of the financial services provider's stock worth $37,000 after purchasing an additional 13 shares during the last quarter. Finally, Activest Wealth Management boosted its holdings in Equinix by 81.5% in the fourth quarter. Activest Wealth Management now owns 49 shares of the financial services provider's stock worth $38,000 after purchasing an additional 22 shares during the last quarter. Hedge funds and other institutional investors own 94.94% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Scotiabank boosted their target price on shares of Equinix from $1,050.00 to $1,120.00 and gave the company a "sector perform" rating in a research note on Thursday, April 30th. Oppenheimer reaffirmed an "outperform" rating and issued a $1,200.00 price objective on shares of Equinix in a report on Thursday, April 30th. Guggenheim reissued a "buy" rating and issued a $1,235.00 target price on shares of Equinix in a report on Wednesday, May 20th. Cantor Fitzgerald raised their target price on Equinix from $1,173.00 to $1,186.00 and gave the stock an "overweight" rating in a research report on Friday, May 1st. Finally, Mizuho upped their price target on shares of Equinix from $1,165.00 to $1,200.00 and gave the company an "outperform" rating in a research report on Thursday, May 7th. Three investment analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and six have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $1,143.60.

Equinix Stock Down 0.1%

EQIX stock opened at $1,069.44 on Friday. The business's 50-day moving average price is $1,045.71 and its 200-day moving average price is $903.10. The stock has a market cap of $105.47 billion, a P/E ratio of 74.01, a PEG ratio of 2.01 and a beta of 1.01. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 1.39. Equinix, Inc. has a twelve month low of $710.52 and a twelve month high of $1,128.68.

Equinix (NASDAQ:EQIX - Get Free Report) last released its earnings results on Wednesday, April 29th. The financial services provider reported $10.79 EPS for the quarter, topping analysts' consensus estimates of $4.30 by $6.49. The company 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 firm's revenue was up 9.8% compared to the same quarter last year. During the same quarter last year, the business earned $9.67 EPS. Equinix has set its FY 2026 guidance at 42.310-43.110 EPS. On average, equities research analysts forecast that Equinix, Inc. will post 37.72 EPS for the current year.

Equinix Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 17th. Investors of record on Wednesday, May 20th will be issued 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 currently 142.84%.

Insiders Place Their Bets

In other Equinix news, insider Brandi Galvin Morandi sold 424 shares of the stock in a transaction that occurred on Wednesday, April 8th. The shares were sold at an average price of $1,020.00, for a total transaction of $432,480.00. Following the completion of the sale, the insider directly owned 9,970 shares of the company's stock, valued at $10,169,400. This trade represents a 4.08% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Raouf Abdel sold 2,040 shares of the business's stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $1,083.47, for a total transaction of $2,210,278.80. Following the completion of the transaction, the executive vice president directly owned 5,728 shares in the company, valued at $6,206,116.16. This trade represents a 26.26% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 13,769 shares of company stock worth $14,191,079 in the last three months. 0.27% of the stock is owned by company insiders.

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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