Nicollet Investment Management Inc. Has $6.19 Million Stock Holdings in Equinix, Inc. $EQIX

Key Points

• Nicollet Investment Management increased its Equinix stake by 18.8% in the fourth quarter, bringing its holdings to 8,081 shares valued at about $6.19 million.
• Equinix reported a strong quarterly EPS beat of $10.79 versus $4.30 expected, though revenue came in slightly below estimates at $2.44 billion even as it rose 9.8% year over year.
• The company announced a $5.16 quarterly dividend and has seen notable insider selling recently, while analysts remain broadly positive with a consensus rating of Moderate Buy and an average price target of $1,143.60.

Nicollet Investment Management Inc. grew its holdings in Equinix, Inc. (NASDAQ:EQIX - Free Report) by 18.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 8,081 shares of the financial services provider's stock after buying an additional 1,279 shares during the quarter. Equinix makes up 2.0% of Nicollet Investment Management Inc.'s portfolio, making the stock its 15th largest position. Nicollet Investment Management Inc.'s holdings in Equinix were worth $6,191,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Ameriflex Group Inc. increased its stake in shares of Equinix by 433.3% in the third quarter. Ameriflex Group Inc. now owns 32 shares of the financial services provider's stock valued at $25,000 after buying an additional 26 shares in the last quarter. Princeton Global Asset Management LLC increased its stake in shares of Equinix by 200.0% in the fourth quarter. Princeton Global Asset Management LLC now owns 42 shares of the financial services provider's stock valued at $32,000 after buying an additional 28 shares in the last quarter. WPG Advisers LLC increased its stake in shares of Equinix by 51.7% in the fourth quarter. WPG Advisers LLC now owns 44 shares of the financial services provider's stock valued at $34,000 after buying an additional 15 shares in the last quarter. Activest Wealth Management increased its stake in shares of Equinix by 81.5% in the fourth quarter. Activest Wealth Management now owns 49 shares of the financial services provider's stock valued at $38,000 after buying an additional 22 shares in the last quarter. Finally, Aventura Private Wealth LLC acquired a new stake in shares of Equinix in the fourth quarter valued at $45,000. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Equinix Price Performance

Equinix stock opened at $1,038.33 on Thursday. The business's 50-day simple moving average is $1,063.77 and its 200 day simple moving average is $920.63. The stock has a market cap of $102.40 billion, a price-to-earnings ratio of 71.86, a P/E/G ratio of 1.99 and a beta of 0.99. Equinix, Inc. has a 12-month low of $710.52 and a 12-month high of $1,128.68. 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 issued its earnings results on Wednesday, April 29th. The financial services provider reported $10.79 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $2.44 billion for the quarter, compared to analysts' expectations of $2.52 billion. During the same quarter last year, the business earned $9.67 earnings per share. The company's revenue 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 anticipate 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. Shareholders of record on Wednesday, May 20th will be issued a dividend of $5.16 per share. The ex-dividend date is Wednesday, May 20th. This represents a $20.64 dividend on an annualized basis and a yield of 2.0%. Equinix's dividend payout ratio (DPR) is 142.84%.

Insider Buying and Selling

In other Equinix news, insider Brandi Galvin Morandi sold 3,726 shares of the firm's stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $1,076.36, for a total transaction of $4,010,517.36. Following the transaction, the insider 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. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Chairman Charles J. Meyers sold 5,224 shares of the firm's stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of $1,085.23, for a total value of $5,669,241.52. Following the transaction, the chairman owned 7,370 shares in the company, valued at approximately $7,998,145.10. This trade represents a 41.48% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 11,539 shares of company stock worth $12,455,054 in the last ninety days. 0.27% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

EQIX has been the subject of a number of research reports. BMO Capital Markets raised their target price on Equinix from $925.00 to $1,050.00 and gave the company an "outperform" rating in a research note on Thursday, February 12th. Wells Fargo & Company raised their target price on Equinix from $975.00 to $1,200.00 and gave the company an "overweight" rating in a research note on Tuesday, April 21st. UBS Group raised their target price on Equinix from $950.00 to $1,010.00 and gave the company a "buy" rating in a research note on Thursday, February 12th. Oppenheimer restated an "outperform" rating and issued a $1,200.00 target price on shares of Equinix in a research note on Thursday, April 30th. Finally, Jefferies Financial Group raised their price target on Equinix from $950.00 to $1,000.00 and gave the company a "buy" rating in a report on Thursday, February 12th. Three research analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $1,143.60.

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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