NFJ Investment Group LLC Makes New $26.45 Million Investment in Equinix, Inc. $EQIX

Key Points

• NFJ Investment Group purchased 25,377 Equinix shares worth approximately $26.45 million in the second quarter. Institutional investors and hedge funds collectively own 94.94% of the company.
• Equinix reported quarterly earnings of $11.78 per share, well above the $4.73 consensus estimate, while revenue rose 16.4% year over year to $2.62 billion.
• Analysts maintain a generally positive outlook, with a “Moderate Buy” consensus rating and an average price target of $1,203.40; Equinix also declared a quarterly dividend of $5.16 per share.

NFJ Investment Group LLC purchased a new stake in shares of Equinix, Inc. (NASDAQ:EQIX - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 25,377 shares of the financial services provider's stock, valued at approximately $26,453,000.

Several other hedge funds and other institutional investors have also made changes to their positions in EQIX. Silvant Capital Management LLC acquired a new stake in Equinix in the 2nd quarter valued at approximately $63,000. Ceredex Value Advisors LLC acquired a new position in Equinix during the 2nd quarter worth $19,197,000. Fairtree Asset Management Pty Ltd bought a new position in shares of Equinix in the second quarter worth $1,796,000. Ninepoint Partners LP bought a new position in shares of Equinix in the second quarter worth $3,320,000. Finally, SGL Investment Advisors Inc. acquired a new position in shares of Equinix during the second quarter valued at $360,000. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Equinix Price Performance

NASDAQ EQIX opened at $1,082.61 on Friday. The stock has a market capitalization of $106.82 billion, a P/E ratio of 69.71, a P/E/G ratio of 1.53 and a beta of 0.99. Equinix, Inc. has a 1 year low of $720.62 and a 1 year high of $1,128.68. The business's fifty day moving average is $1,052.47 and its two-hundred day moving average is $1,022.18. The company has a debt-to-equity ratio of 1.44, a quick ratio of 1.13 and a current ratio of 1.13.

Equinix (NASDAQ:EQIX - Get Free Report) last released its quarterly earnings data on Wednesday, July 29th. The financial services provider reported $11.78 earnings per share for the quarter, topping the consensus estimate of $4.73 by $7.05. The business had revenue of $2.62 billion during the quarter, compared to analyst estimates of $2.59 billion. Equinix had a return on equity of 10.76% and a net margin of 15.64%.The company's revenue was up 16.4% compared to the same quarter last year. During the same period last year, the company posted $9.91 EPS. Equinix has set its FY 2026 guidance at 42.690-43.290 EPS. On average, research analysts forecast that Equinix, Inc. will post 38.23 earnings per share for the current fiscal year.

Equinix Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 16th. Stockholders of record on Wednesday, August 19th will be issued a dividend of $5.16 per share. This represents a $20.64 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend is Wednesday, August 19th. Equinix's dividend payout ratio is currently 132.90%.

Analysts Set New Price Targets

EQIX has been the subject of several research analyst reports. JPMorgan Chase & Co. upped their price objective on shares of Equinix from $1,100.00 to $1,200.00 and gave the stock an "overweight" rating in a report on Thursday, April 30th. Cantor Fitzgerald raised their target price on shares of Equinix from $1,186.00 to $1,211.00 and gave the company an "overweight" rating in a research note on Thursday, July 30th. Weiss Ratings upgraded shares of Equinix from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Thursday, August 6th. Oppenheimer reaffirmed an "outperform" rating and issued a $1,200.00 price target on shares of Equinix in a research note on Thursday, April 30th. Finally, Barclays increased their price objective on shares of Equinix from $1,109.00 to $1,130.00 and gave the company an "equal weight" rating in a report on Wednesday, July 1st. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $1,203.40.

Insider Activity at Equinix

In related news, insider Brandi Galvin Morandi sold 3,726 shares of Equinix stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $1,076.36, for a total value of $4,010,517.36. Following the transaction, the insider owned 6,132 shares of the company's stock, valued at approximately $6,600,239.52. This trade represents a 37.80% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Christopher B. Paisley sold 4,000 shares of the business's stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $1,019.28, for a total value of $4,077,120.00. Following the sale, the director owned 13,859 shares in the company, valued at approximately $14,126,201.52. The trade was a 22.40% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 7,986 shares of company stock worth $8,370,777 in the last quarter. 0.27% of the stock is owned by company insiders.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source