Panagora Asset Management Inc. Decreases Stock Holdings in Equinix, Inc. $EQIX

Key Points

• Panagora Asset Management Inc. has reduced its stake in Equinix, Inc. by 5.3% in the first quarter, now holding approximately $59.35 million worth of shares.
• Equinix reported earnings of $9.91 EPS for the last quarter, exceeding analysts' estimates and marking a 4.5% revenue increase compared to the same quarter last year.
• The company recently declared a quarterly dividend of $4.69 per share, with an annual yield of 2.4% and a payout ratio of 183.74%.

Panagora Asset Management Inc. lowered its position in shares of Equinix, Inc. (NASDAQ:EQIX - Free Report) by 5.3% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 72,793 shares of the financial services provider's stock after selling 4,039 shares during the period. Panagora Asset Management Inc. owned approximately 0.07% of Equinix worth $59,352,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in EQIX. Activest Wealth Management increased its holdings in shares of Equinix by 121.4% during the 1st quarter. Activest Wealth Management now owns 31 shares of the financial services provider's stock worth $25,000 after buying an additional 17 shares during the last quarter. Pinney & Scofield Inc. acquired a new stake in shares of Equinix during the 4th quarter worth approximately $28,000. GKV Capital Management Co. Inc. acquired a new stake in shares of Equinix during the 1st quarter worth approximately $30,000. Whipplewood Advisors LLC increased its holdings in shares of Equinix by 127.8% during the 1st quarter. Whipplewood Advisors LLC now owns 41 shares of the financial services provider's stock worth $33,000 after buying an additional 23 shares during the last quarter. Finally, Cornerstone Planning Group LLC increased its holdings in shares of Equinix by 40.0% during 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 last quarter. Institutional investors and hedge funds own 94.94% of the company's stock.

Wall Street Analysts Forecast Growth

EQIX has been the subject of a number of recent analyst reports. Dbs Bank upgraded shares of Equinix to a "moderate buy" rating in a report on Wednesday, August 6th. Bank of America lowered their price objective on shares of Equinix from $1,000.00 to $950.00 and set a "buy" rating for the company in a research report on Thursday, June 26th. Stifel Nicolaus lowered their price objective on shares of Equinix from $1,050.00 to $1,010.00 and set a "buy" rating for the company in a research report on Thursday, June 26th. UBS Group lowered their price objective on shares of Equinix from $1,035.00 to $950.00 and set a "buy" rating for the company in a research report on Friday, July 11th. Finally, BMO Capital Markets cut shares of Equinix from an "outperform" rating to a "market perform" rating and lowered their price objective for the stock from $1,045.00 to $850.00 in a research report on Thursday, June 26th. Five research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat, Equinix currently has an average rating of "Buy" and an average target price of $962.52.

Insider Activity at Equinix

In other Equinix news, Director Christopher B. Paisley sold 75 shares of the firm's stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $781.50, for a total value of $58,612.50. Following the completion of the transaction, the director owned 17,832 shares of the company's stock, valued at $13,935,708. This trade represents a 0.42% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Adaire Fox-Martin sold 2,949 shares of the firm's stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $884.91, for a total transaction of $2,609,599.59. Following the completion of the transaction, the chief executive officer directly owned 9,615 shares of the company's stock, valued at $8,508,409.65. This represents a 23.47% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.27% of the company's stock.

Equinix Stock Down 0.0%

EQIX stock traded down $0.16 during midday trading on Monday, hitting $786.19. The company's stock had a trading volume of 321,930 shares, compared to its average volume of 389,100. The company has a quick ratio of 1.54, a current ratio of 1.54 and a debt-to-equity ratio of 1.29. Equinix, Inc. has a 52-week low of $701.41 and a 52-week high of $994.03. The firm has a market capitalization of $76.94 billion, a P/E ratio of 77.00, a PEG ratio of 1.40 and a beta of 0.92. The firm has a 50-day simple moving average of $784.08 and a 200-day simple moving average of $831.49.

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

Equinix Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 17th. Shareholders of record on Wednesday, August 20th will be given a $4.69 dividend. This represents a $18.76 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend is Wednesday, August 20th. Equinix's dividend payout ratio (DPR) is currently 183.74%.

About Equinix

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.