Krilogy Financial LLC Decreases Stock Holdings in Equinix, Inc. $EQIX

Key Points

• Krilogy Financial LLC cut its stake in Equinix by 30% in the first quarter, selling 930 shares and leaving it with 2,166 shares valued at about $2.32 million.
• Wall Street remains bullish on Equinix: several analysts raised price targets, and the stock currently carries a Moderate Buy consensus with an average target of $1,143.60.
• Equinix reported strong quarterly EPS of $10.79, well above estimates, while also paying a $5.16 quarterly dividend that annualizes to a 1.9% yield.

Krilogy Financial LLC lowered its stake in shares of Equinix, Inc. (NASDAQ:EQIX - Free Report) by 30.0% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 2,166 shares of the financial services provider's stock after selling 930 shares during the period. Krilogy Financial LLC's holdings in Equinix were worth $2,320,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Ameriflex Group Inc. grew its stake in shares of Equinix by 433.3% in the third quarter. Ameriflex Group Inc. now owns 32 shares of the financial services provider's stock worth $25,000 after acquiring an additional 26 shares during the period. Kemnay Advisory Services Inc. bought a new position in Equinix during the fourth quarter valued at approximately $30,000. Princeton Global Asset Management LLC boosted its holdings in Equinix by 200.0% in the fourth 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 last quarter. WPG Advisers LLC grew its position 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 grew its position 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. Hedge funds and other institutional investors own 94.94% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on EQIX shares. JPMorgan Chase & Co. increased their price target on Equinix from $1,100.00 to $1,200.00 and gave the company an "overweight" rating in a report on Thursday, April 30th. Citigroup reaffirmed a "buy" rating on shares of Equinix in a report on Wednesday, June 3rd. HSBC upped their price objective on Equinix from $1,100.00 to $1,250.00 and gave the company a "buy" rating in a research report on Monday, April 27th. 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, Raymond James Financial upgraded Equinix from a "market perform" rating to a "strong-buy" rating and set a $1,250.00 price target for the company in a research note on Thursday, April 30th. Three investment analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and six have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Equinix presently has an average rating of "Moderate Buy" and an average price target of $1,143.60.

Insider Buying and Selling

In other news, Director Christopher B. Paisley sold 125 shares of Equinix stock in a transaction dated 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 transaction, the director directly owned 17,557 shares of the company's stock, valued at $18,615,511.53. The trade was a 0.71% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 that occurred on Friday, May 22nd. The shares were sold at an average price of $1,083.47, for a total value 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 ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 11,539 shares of company stock worth $12,455,054 over the last ninety days. 0.27% of the stock is owned by corporate insiders.

Equinix Trading Down 1.9%

Shares of EQIX stock opened at $1,095.00 on Thursday. Equinix, Inc. has a 1 year low of $710.52 and a 1 year high of $1,128.68. The firm has a fifty day moving average price of $1,078.20 and a 200-day moving average price of $944.72. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.18 and a quick ratio of 1.18. The company has a market cap of $107.99 billion, a price-to-earnings ratio of 75.78, a PEG ratio of 2.07 and a beta of 0.99.

Equinix (NASDAQ:EQIX - Get Free Report) last announced 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 return on equity of 10.03% and a net margin of 15.07%.Equinix's revenue for the quarter was up 9.8% compared to the same quarter last year. During the same period last year, the firm earned $9.67 EPS. Equinix has set its FY 2026 guidance at 42.310-43.110 EPS. As a group, equities analysts predict that Equinix, Inc. will post 38.26 earnings per share for the current year.

Equinix Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 17th. Stockholders of record on Wednesday, May 20th were paid a $5.16 dividend. 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%.

Equinix 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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