Lido Advisors LLC Increases Holdings in Equinix, Inc. $EQIX

Key Points

• Lido Advisors LLC increased its Equinix stake by 66% in the first quarter, buying 7,528 additional shares and bringing its total holdings to 18,936 shares worth about $18.6 million.
• Wall Street sentiment remains broadly positive on Equinix, with analysts issuing a Moderate Buy consensus and an average price target of $1,153.79, though one firm recently downgraded the stock to Hold.
• Equinix reported strong quarterly earnings, posting EPS of $10.79 versus estimates of $4.30, while revenue rose 9.8% year over year to $2.44 billion; the company also paid a $5.16 quarterly dividend yielding about 2.0%.

Lido Advisors LLC raised its holdings in shares of Equinix, Inc. (NASDAQ:EQIX - Free Report) by 66.0% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 18,936 shares of the financial services provider's stock after acquiring an additional 7,528 shares during the quarter. Lido Advisors LLC's holdings in Equinix were worth $18,563,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. raised its holdings in Equinix by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 13,398,906 shares of the financial services provider's stock worth $10,265,706,000 after purchasing an additional 107,227 shares in the last quarter. Cohen & Steers Inc. lifted its position in shares of Equinix by 23.3% during the 4th quarter. Cohen & Steers Inc. now owns 2,609,011 shares of the financial services provider's stock worth $1,998,978,000 after buying an additional 493,141 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Equinix by 1.0% in the 4th quarter. Geode Capital Management LLC now owns 2,567,830 shares of the financial services provider's stock valued at $1,959,731,000 after buying an additional 25,383 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in shares of Equinix by 1.4% in the 1st quarter. Principal Financial Group Inc. now owns 1,980,497 shares of the financial services provider's stock valued at $1,941,377,000 after buying an additional 27,643 shares in the last quarter. Finally, Northern Trust Corp grew its position in shares of Equinix by 0.6% in the 4th quarter. Northern Trust Corp now owns 1,500,506 shares of the financial services provider's stock valued at $1,149,628,000 after buying an additional 9,614 shares during the last quarter. Hedge funds and other institutional investors own 94.94% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. TD Cowen lifted their price target on shares of Equinix from $1,123.00 to $1,143.00 and gave the stock a "buy" rating in a research note on Thursday, April 30th. Zacks Research downgraded shares of Equinix from a "strong-buy" rating to a "hold" rating in a research note on Friday, May 15th. Truist Financial set a $1,215.00 price objective on Equinix in a report on Friday, May 1st. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and set a $1,207.00 target price on shares of Equinix in a research report on Tuesday, May 5th. Finally, Morgan Stanley boosted their target price on Equinix from $1,075.00 to $1,250.00 and gave the company an "overweight" rating in a report on Monday, April 13th. Three analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $1,153.79.

Insider Activity

In other news, Chairman Charles J. Meyers sold 5,224 shares of the business's stock in a transaction dated Wednesday, May 6th. The shares were sold at an average price of $1,085.23, for a total transaction of $5,669,241.52. Following the transaction, the chairman directly owned 7,370 shares in the company, valued at $7,998,145.10. The trade was a 41.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Brandi Galvin Morandi sold 3,726 shares of the firm's stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $1,076.36, for a total transaction of $4,010,517.36. Following the completion of the sale, the insider owned 6,132 shares of the company's stock, valued at approximately $6,600,239.52. The trade was a 37.80% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 11,115 shares of company stock worth $12,022,574 in the last 90 days. Corporate insiders own 0.27% of the company's stock.

Equinix Stock Up 0.5%

Equinix stock opened at $1,033.55 on Friday. The stock has a 50 day moving average of $1,056.35 and a two-hundred day moving average of $985.65. Equinix, Inc. has a twelve month low of $720.62 and a twelve month high of $1,128.68. The stock has a market capitalization of $101.93 billion, a price-to-earnings ratio of 71.53, a PEG ratio of 1.91 and a beta of 0.98. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 1.39.

Equinix (NASDAQ:EQIX - Get Free Report) last released its earnings results on Wednesday, April 29th. The financial services provider reported $10.79 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.30 by $6.49. Equinix had a return on equity of 10.03% and a net margin of 15.07%.The business had revenue of $2.44 billion for the quarter, compared to analyst estimates of $2.52 billion. During the same quarter in the previous year, the company posted $9.67 earnings per share. The company's revenue for the quarter was up 9.8% compared to the same quarter last year. Equinix has set its FY 2026 guidance at 42.310-43.110 EPS. As a group, research analysts expect that Equinix, Inc. will post 38.25 earnings per share for the current year.

Equinix Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 17th. Shareholders of record on Wednesday, May 20th were paid a $5.16 dividend. This represents a $20.64 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend was Wednesday, May 20th. Equinix's payout ratio is currently 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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