Karras Company Inc. Makes New $912,000 Investment in Equinix, Inc. $EQIX

Key Points

• Karras Company Inc. bought a new position in Equinix during the fourth quarter, purchasing 1,190 shares valued at about $912,000. The stake represents roughly 0.9% of its portfolio.
• Equinix continues to draw strong Wall Street support, with analysts largely rating the stock a Buy and assigning an average price target of $1,143.60.
• The company reported better-than-expected earnings for the latest quarter, with EPS of $10.79 versus $4.30 expected, and also announced a quarterly dividend of $5.16 per share.

Karras Company Inc. purchased a new position in Equinix, Inc. (NASDAQ:EQIX - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 1,190 shares of the financial services provider's stock, valued at approximately $912,000. Equinix accounts for about 0.9% of Karras Company Inc.'s investment portfolio, making the stock its 29th largest position.

A number of other large investors have also bought and sold shares of EQIX. Ameriflex Group Inc. grew its position 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 grew its position 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 grew its position 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 grew its position 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 grew its position 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. 94.94% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on EQIX shares. Sanford C. Bernstein started coverage on Equinix in a research report on Thursday, March 5th. They issued an "outperform" rating and a $1,128.00 price objective on the stock. Guggenheim reiterated a "buy" rating and issued a $1,235.00 price objective on shares of Equinix in a research report on Wednesday. HSBC lifted their price objective on Equinix from $1,100.00 to $1,250.00 and gave the stock a "buy" rating in a research report on Monday, April 27th. UBS Group lifted their price objective on Equinix from $950.00 to $1,010.00 and gave the stock a "buy" rating in a research report on Thursday, February 12th. Finally, Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and issued a $1,207.00 price objective on shares of Equinix in a research report on Tuesday, May 5th. Three analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and six have given a Hold rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $1,143.60.

Insider Activity at Equinix

In related news, Director Christopher B. Paisley sold 125 shares of Equinix stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $1,060.29, for a total transaction of $132,536.25. Following the sale, the director directly owned 17,557 shares in the company, valued at $18,615,511.53. The trade was a 0.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Chairman Charles J. Meyers sold 5,224 shares of Equinix stock in a transaction that occurred on Wednesday, May 6th. The shares were sold at an average price of $1,085.23, for a total value of $5,669,241.52. Following the sale, the chairman owned 7,370 shares in the company, valued at $7,998,145.10. This represents a 41.48% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 11,729 shares of company stock valued at $11,980,800 over the last ninety days. Insiders own 0.27% of the company's stock.

Equinix Trading Up 0.1%

NASDAQ EQIX opened at $1,079.79 on Friday. 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. The firm has a market capitalization of $106.49 billion, a PE ratio of 74.73, a P/E/G ratio of 2.03 and a beta of 1.01. The stock's 50 day moving average is $1,037.82 and its 200 day moving average is $895.60.

Equinix (NASDAQ:EQIX - Get Free Report) last released its quarterly earnings results on Wednesday, April 29th. The financial services provider reported $10.79 earnings per share for the quarter, beating the consensus estimate of $4.30 by $6.49. Equinix had a return on equity of 10.03% and a net margin of 15.07%.The company had revenue of $2.44 billion for the quarter, compared to analyst estimates of $2.52 billion. During the same period in the previous year, the company posted $9.67 earnings per share. The firm's revenue was up 9.8% on a year-over-year basis. Equinix has set its FY 2026 guidance at 42.310-43.110 EPS. Research analysts forecast that Equinix, Inc. will post 37.72 earnings per share for the current fiscal year.

Equinix Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 17th. Investors of record on Wednesday, May 20th will be given a dividend of $5.16 per share. The ex-dividend date is Wednesday, May 20th. This represents a $20.64 annualized dividend and a dividend yield of 1.9%. Equinix's payout ratio is currently 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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