NFJ Investment Group LLC Purchases 43,810 Shares of Equinix, Inc. $EQIX

Key Points

• NFJ Investment Group LLC boosted its Equinix stake by 388.8% in the fourth quarter, buying 43,810 more shares and bringing its total to 55,079 shares worth about $42.2 million.
• Several analysts remain bullish on Equinix (NASDAQ: EQIX), with a consensus rating of “Moderate Buy” and an average price target of $1,143.60 after multiple firms reiterated or raised their targets.
• Equinix reported strong quarterly results, including EPS of $10.79 that beat estimates, while revenue rose 9.8% year over year; the company also declared a quarterly dividend of $5.16 per share.

NFJ Investment Group LLC raised its position in Equinix, Inc. (NASDAQ:EQIX - Free Report) by 388.8% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 55,079 shares of the financial services provider's stock after acquiring an additional 43,810 shares during the period. Equinix comprises 1.5% of NFJ Investment Group LLC's portfolio, making the stock its 17th biggest position. NFJ Investment Group LLC owned about 0.06% of Equinix worth $42,199,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Douglas Lane & Associates LLC raised its stake in shares of Equinix by 3.9% during the 4th quarter. Douglas Lane & Associates LLC now owns 112,030 shares of the financial services provider's stock worth $85,833,000 after purchasing an additional 4,241 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Equinix by 25.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,875,355 shares of the financial services provider's stock worth $2,252,094,000 after purchasing an additional 588,967 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its stake in shares of Equinix by 71.1% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 100,791 shares of the financial services provider's stock worth $78,944,000 after purchasing an additional 41,887 shares in the last quarter. Caprock Group LLC bought a new stake in shares of Equinix during the 3rd quarter worth approximately $1,748,000. Finally, NEOS Investment Management LLC increased its holdings in shares of Equinix by 62.1% during the 3rd quarter. NEOS Investment Management LLC now owns 18,777 shares of the financial services provider's stock worth $14,707,000 after acquiring an additional 7,196 shares during the last quarter. Institutional investors own 94.94% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on EQIX shares. Guggenheim reissued a "buy" rating and set a $1,235.00 target price on shares of Equinix in a report on Wednesday, May 20th. Cantor Fitzgerald boosted their target price on Equinix from $1,173.00 to $1,186.00 and gave the stock an "overweight" rating in a report on Friday, May 1st. Deutsche Bank Aktiengesellschaft reissued a "buy" rating and set a $1,207.00 target price on shares of Equinix in a report on Tuesday, May 5th. Oppenheimer reissued an "outperform" rating and set a $1,200.00 target price on shares of Equinix in a report on Thursday, April 30th. Finally, Sanford C. Bernstein started coverage on Equinix in a report on Thursday, March 5th. They set an "outperform" rating and a $1,128.00 target price on the stock. Three analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat, Equinix currently has a consensus rating of "Moderate Buy" and a consensus price target of $1,143.60.

Insider Buying and Selling

In other news, EVP Raouf Abdel sold 2,040 shares of the stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $1,083.47, for a total transaction of $2,210,278.80. Following the sale, the executive vice president directly owned 5,728 shares of the company's stock, valued at approximately $6,206,116.16. This represents a 26.26% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Brandi Galvin Morandi sold 3,726 shares of the stock in a transaction on 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 sale, the insider directly owned 6,132 shares in the company, valued at approximately $6,600,239.52. This trade represents a 37.80% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 11,539 shares of company stock valued at $12,455,054. Company insiders own 0.27% of the company's stock.

Equinix Stock Performance

Shares of NASDAQ EQIX opened at $1,055.85 on Friday. 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 stock's fifty day moving average price is $1,066.23 and its two-hundred day moving average price is $923.59. Equinix, Inc. has a one year low of $710.52 and a one year high of $1,128.68. The firm has a market cap of $104.13 billion, a price-to-earnings ratio of 73.07, a P/E/G ratio of 1.99 and a beta of 0.99.

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 for the quarter, beating analysts' consensus estimates of $4.30 by $6.49. The firm had revenue of $2.44 billion during the quarter, compared to the consensus estimate of $2.52 billion. Equinix had a return on equity of 10.03% and a net margin of 15.07%.The company's revenue was up 9.8% compared to the same quarter last year. During the same period in the prior year, the company posted $9.67 EPS. Equinix has set its FY 2026 guidance at 42.310-43.110 EPS. On average, equities analysts forecast that Equinix, Inc. will post 37.72 EPS for the current year.

Equinix Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 17th. Stockholders of record on Wednesday, May 20th will be issued a dividend of $5.16 per share. This represents a $20.64 annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend is Wednesday, May 20th. Equinix's dividend payout ratio is 142.84%.

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.

Want to see what other hedge funds are holding EQIX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Equinix, Inc. (NASDAQ:EQIX - Free Report).

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.