New Age Alpha Advisors LLC Reduces Stake in Equinix, Inc. $EQIX

Key Points

• New Age Alpha Advisors cut its Equinix stake by 7.7% in the fourth quarter, though it still held 14,883 shares valued at about $11.4 million.
• Equinix reported strong quarterly results, with EPS of $10.79 beating estimates, and revenue rising 9.8% year over year to $2.44 billion, even as it came in slightly below analyst revenue expectations.
• Wall Street remains bullish on the stock: analysts have a Moderate Buy consensus and an average price target of $1,143.60, while the company also announced a $5.16 quarterly dividend.

New Age Alpha Advisors LLC trimmed its holdings in Equinix, Inc. (NASDAQ:EQIX - Free Report) by 7.7% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 14,883 shares of the financial services provider's stock after selling 1,243 shares during the period. New Age Alpha Advisors LLC's holdings in Equinix were worth $11,403,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Ameriflex Group Inc. grew its position in 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. Princeton Global Asset Management LLC grew its position 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 acquiring an additional 28 shares during the period. WPG Advisers LLC grew its position in Equinix by 51.7% in the fourth quarter. WPG Advisers LLC now owns 44 shares of the financial services provider's stock worth $34,000 after acquiring an additional 15 shares during the period. Cornerstone Planning Group LLC grew its position in Equinix by 40.6% in the third quarter. Cornerstone Planning Group LLC now owns 45 shares of the financial services provider's stock worth $37,000 after acquiring an additional 13 shares during the period. Finally, Activest Wealth Management grew its position in Equinix by 81.5% in the fourth quarter. Activest Wealth Management now owns 49 shares of the financial services provider's stock worth $38,000 after acquiring an additional 22 shares during the period. 94.94% of the stock is currently owned by hedge funds and other institutional investors.

Equinix Stock Performance

EQIX opened at $1,079.79 on Monday. Equinix, Inc. has a 52 week low of $710.52 and a 52 week high of $1,128.68. The business has a fifty day simple moving average of $1,037.82 and a 200-day simple moving average of $896.05. The firm has a market cap of $106.49 billion, a P/E ratio of 74.73, a P/E/G ratio of 2.03 and a beta of 1.01. 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 (NASDAQ:EQIX - Get Free Report) last released its quarterly earnings results on Wednesday, April 29th. The financial services provider reported $10.79 EPS for the quarter, topping 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 business had revenue of $2.44 billion during the quarter, compared to analyst estimates of $2.52 billion. During the same period last year, the business posted $9.67 earnings per share. The company's quarterly revenue was up 9.8% on a year-over-year basis. Equinix has set its FY 2026 guidance at 42.310-43.110 EPS. On average, equities analysts expect that Equinix, Inc. will post 37.72 earnings per share for the current year.

Equinix Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 17th. Investors of record on Wednesday, May 20th will be issued a $5.16 dividend. The ex-dividend date is Wednesday, May 20th. This represents a $20.64 dividend on an annualized basis and a yield of 1.9%. Equinix's dividend payout ratio (DPR) is 142.84%.

Insider Transactions at Equinix

In related news, EVP Raouf Abdel sold 584 shares of Equinix stock in a transaction on Thursday, March 12th. The stock was sold at an average price of $965.69, for a total value of $563,962.96. Following the completion of the transaction, the executive vice president directly owned 7,768 shares in the company, valued at approximately $7,501,479.92. This trade represents a 6.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Brandi Galvin Morandi sold 630 shares of Equinix stock in a transaction on Thursday, March 12th. The shares were sold at an average price of $961.19, for a total value of $605,549.70. Following the completion of the transaction, the insider owned 10,394 shares of the company's stock, valued at approximately $9,990,608.86. This trade represents a 5.71% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 11,729 shares of company stock valued at $11,980,800 in the last 90 days. Insiders own 0.27% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on EQIX shares. Morgan Stanley increased their price objective on Equinix from $1,075.00 to $1,250.00 and gave the stock an "overweight" rating in a research report on Monday, April 13th. 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. UBS Group raised their price target on Equinix from $950.00 to $1,010.00 and gave the stock a "buy" rating in a research report on Thursday, February 12th. Truist Financial set a $1,215.00 price target on Equinix in a research report on Friday, May 1st. Finally, Stifel Nicolaus set a $1,075.00 price target on Equinix in a research report on Thursday, February 12th. Three research analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and six have issued a Hold rating to the company's stock. According to data from MarketBeat, Equinix presently has an average rating of "Moderate Buy" and an average price target of $1,143.60.

Equinix Company 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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