Logan Capital Management Inc. Sells 331 Shares of Equinix, Inc. $EQIX

Key Points

• Logan Capital Management Inc. reduced its stake in Equinix, Inc. by 7.7%, owning 3,993 shares valued at $3,256,000 after selling 331 shares in the first quarter.
• Equinix reported a quarterly EPS of $9.91, significantly exceeding analysts' estimates of $3.49 and marking a revenue of $2.26 billion with a 4.5% year-over-year increase.
• The company announced a quarterly dividend of $4.69, with an annualized yield of 2.4%, though the dividend payout ratio currently stands at a high 183.74%.

Logan Capital Management Inc. cut its holdings in Equinix, Inc. (NASDAQ:EQIX - Free Report) by 7.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,993 shares of the financial services provider's stock after selling 331 shares during the quarter. Logan Capital Management Inc.'s holdings in Equinix were worth $3,256,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Cornerstone Planning Group LLC grew its position in shares of Equinix by 40.0% in the 1st quarter. Cornerstone Planning Group LLC now owns 42 shares of the financial services provider's stock worth $34,000 after buying an additional 12 shares during the period. Signaturefd LLC grew its position in shares of Equinix by 0.8% in the 1st quarter. Signaturefd LLC now owns 1,450 shares of the financial services provider's stock worth $1,182,000 after buying an additional 12 shares during the period. AE Wealth Management LLC grew its position in shares of Equinix by 5.1% in the 1st quarter. AE Wealth Management LLC now owns 248 shares of the financial services provider's stock worth $202,000 after buying an additional 12 shares during the period. Gitterman Wealth Management LLC grew its position in shares of Equinix by 5.0% in the 1st quarter. Gitterman Wealth Management LLC now owns 250 shares of the financial services provider's stock worth $206,000 after buying an additional 12 shares during the period. Finally, Griffin Asset Management Inc. grew its position in shares of Equinix by 0.7% in the 1st quarter. Griffin Asset Management Inc. now owns 1,771 shares of the financial services provider's stock worth $1,444,000 after buying an additional 13 shares during the period. 94.94% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Raouf Abdel sold 404 shares of the stock in a transaction that occurred on Tuesday, September 9th. The shares were sold at an average price of $771.11, for a total value of $311,528.44. Following the transaction, the executive vice president owned 6,378 shares in the company, valued at $4,918,139.58. This represents a 5.96% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Christopher B. Paisley sold 75 shares of the stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $781.50, for a total transaction of $58,612.50. Following the completion of the transaction, the director owned 17,832 shares in the company, valued at $13,935,708. This trade represents a 0.42% decrease in their position. The disclosure for this sale can be found here. 0.27% of the stock is currently owned by corporate insiders.

Equinix Stock Performance

EQIX traded down $8.87 during midday trading on Friday, hitting $788.61. 367,783 shares of the company traded hands, compared to its average volume of 387,476. The company has a quick ratio of 1.54, a current ratio of 1.54 and a debt-to-equity ratio of 1.29. The firm has a market capitalization of $77.17 billion, a PE ratio of 77.24, a price-to-earnings-growth ratio of 1.42 and a beta of 0.92. The company's 50-day moving average is $779.38 and its 200 day moving average is $823.52. Equinix, Inc. has a 52 week low of $701.41 and a 52 week high of $994.03.

Equinix (NASDAQ:EQIX - Get Free Report) last posted its earnings results on Wednesday, July 30th. The financial services provider reported $9.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.49 by $6.42. The business had revenue of $2.26 billion for the quarter, compared to analysts' expectations of $2.26 billion. Equinix had a net margin of 11.11% and a return on equity of 7.22%. The business's revenue for the quarter was up 4.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $9.22 EPS. Equinix has set its Q3 2025 guidance at EPS. FY 2025 guidance at 37.670-38.480 EPS. On average, research analysts expect that Equinix, Inc. will post 33.1 EPS for the current year.

Equinix Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 17th. Shareholders of record on Wednesday, August 20th will be paid a dividend of $4.69 per share. The ex-dividend date is Wednesday, August 20th. This represents a $18.76 annualized dividend and a yield of 2.4%. Equinix's dividend payout ratio is currently 183.74%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on EQIX. The Goldman Sachs Group reduced their target price on shares of Equinix from $1,020.00 to $880.00 and set a "buy" rating on the stock in a research report on Wednesday, July 2nd. JMP Securities reissued a "market outperform" rating and set a $1,200.00 price objective on shares of Equinix in a research report on Tuesday, July 22nd. Barclays increased their price objective on shares of Equinix from $798.00 to $804.00 and gave the company an "equal weight" rating in a research report on Wednesday, August 20th. JPMorgan Chase & Co. increased their price objective on shares of Equinix from $935.00 to $940.00 and gave the company an "overweight" rating in a research report on Thursday, July 31st. Finally, Guggenheim assumed coverage on shares of Equinix in a research report on Thursday, July 10th. They set a "buy" rating and a $933.00 price objective on the stock. Five research analysts have rated the stock with a Strong Buy rating, nineteen 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 an average rating of "Buy" and a consensus price target of $962.52.

Equinix Profile

Equinix Nasdaq: EQIX is the world's digital infrastructure company . Digital leaders harness Equinix's trusted platform to bring together and interconnect foundational infrastructure at software speed. Equinix enables organizations to access all the right places, partners and possibilities to scale with agility, speed the launch of digital services, deliver world-class experiences and multiply their value, while supporting their sustainability goals.