Investment Management Corp of Ontario Acquires 3,860 Shares of Equinix, Inc. $EQIX

Key Points

• Investment Management Corp of Ontario increased its Equinix stake by 25% in the fourth quarter, buying 3,860 additional shares and bringing its total holdings to 19,297 shares worth about $14.8 million.
• Several other institutions also adjusted their positions, and 94.94% of Equinix stock is owned by institutional investors. Meanwhile, insiders have been selling shares, including EVP Raouf Abdel and Chairman Charles J. Meyers.
• Equinix reported strong quarterly results with EPS of $10.79, well above estimates, while revenue rose 9.8% year over year to $2.44 billion. Analysts currently rate the stock a Moderate Buy with a consensus price target of $1,143.60.

Investment Management Corp of Ontario increased its holdings in Equinix, Inc. (NASDAQ:EQIX - Free Report) by 25.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 19,297 shares of the financial services provider's stock after buying an additional 3,860 shares during the period. Investment Management Corp of Ontario's holdings in Equinix were worth $14,785,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Ameriflex Group Inc. boosted its holdings in 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 period. Kemnay Advisory Services Inc. bought a new position in Equinix in the 4th quarter worth approximately $30,000. Princeton Global Asset Management LLC boosted its stake in 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 purchasing an additional 28 shares during the period. WPG Advisers LLC boosted its stake in 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 purchasing an additional 15 shares during the period. Finally, Activest Wealth Management boosted its stake 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 purchasing an additional 22 shares during the period. 94.94% of the stock is owned by institutional investors.

Insider Buying and Selling at Equinix

In related news, EVP Raouf Abdel sold 2,040 shares of the stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $1,083.47, for a total transaction of $2,210,278.80. Following the transaction, the executive vice president owned 5,728 shares of the company's stock, valued at approximately $6,206,116.16. This trade represents a 26.26% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Charles J. Meyers sold 5,224 shares of Equinix stock in a transaction on Wednesday, May 6th. The stock was sold at an average price of $1,085.23, for a total transaction of $5,669,241.52. Following the completion of the transaction, the chairman owned 7,370 shares in the company, valued at approximately $7,998,145.10. The trade was a 41.48% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 11,539 shares of company stock valued at $12,455,054. Insiders own 0.27% of the company's stock.

Analysts Set New Price Targets

Several brokerages have commented on EQIX. Zacks Research downgraded Equinix from a "strong-buy" rating to a "hold" rating in a research note on Friday, May 15th. Deutsche Bank Aktiengesellschaft restated a "buy" rating and issued a $1,207.00 target price on shares of Equinix in a research note on Tuesday, May 5th. 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 note on Friday, May 1st. TD Cowen raised their price target on shares of Equinix from $1,123.00 to $1,143.00 and gave the company a "buy" rating in a report on Thursday, April 30th. Finally, The Goldman Sachs Group raised their price target on shares of Equinix from $894.00 to $1,015.00 and gave the company a "neutral" rating in a report on Thursday, April 30th. Three investment analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $1,143.60.

Equinix Trading Down 0.6%

Shares of EQIX stock opened at $1,088.52 on Thursday. The business has a 50-day moving average price of $1,070.84 and a two-hundred day moving average price of $931.78. Equinix, Inc. has a 12-month low of $710.52 and a 12-month high of $1,128.68. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 1.39. The firm has a market cap of $107.35 billion, a P/E ratio of 75.33, a price-to-earnings-growth ratio of 2.03 and a beta of 0.99.

Equinix (NASDAQ:EQIX - Get Free Report) last announced its quarterly earnings data on Wednesday, April 29th. The financial services provider reported $10.79 EPS for the quarter, beating the consensus estimate of $4.30 by $6.49. The firm had revenue of $2.44 billion for the quarter, compared to analyst estimates of $2.52 billion. Equinix had a return on equity of 10.03% and a net margin of 15.07%.The company's revenue was up 9.8% on a year-over-year basis. During the same period in the prior year, the company earned $9.67 EPS. Equinix has set its FY 2026 guidance at 42.310-43.110 EPS. Equities analysts anticipate that Equinix, Inc. will post 38.26 EPS for the current fiscal year.

Equinix Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 17th. Shareholders of record on Wednesday, May 20th were paid a dividend of $5.16 per share. The ex-dividend date of this dividend was Wednesday, May 20th. This represents a $20.64 annualized dividend and a dividend yield of 1.9%. Equinix's dividend payout ratio (DPR) is 142.84%.

About Equinix

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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