Pictet Asset Management Holding SA Sells 211,460 Shares of Equinix, Inc. $EQIX

Key Points

• Pictet Asset Management Holding SA cut its Equinix stake by 47% in the first quarter, selling 211,460 shares and ending with 238,723 shares valued at about $234 million.
• Equinix reported strong quarterly earnings, with EPS of $10.79 beating estimates, though revenue of $2.44 billion came in slightly below expectations. The company also raised its FY2026 EPS guidance to 42.31-43.11.
• Analysts remain broadly positive on the stock, with several target price increases and a consensus rating of “Moderate Buy.” Equinix also paid a quarterly dividend of $5.16 per share, equal to an annualized yield of 1.9%.

Pictet Asset Management Holding SA decreased its holdings in Equinix, Inc. (NASDAQ:EQIX - Free Report) by 47.0% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 238,723 shares of the financial services provider's stock after selling 211,460 shares during the quarter. Pictet Asset Management Holding SA owned 0.24% of Equinix worth $234,006,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Blue Trust Inc. grew its holdings in shares of Equinix by 1.3% in the first quarter. Blue Trust Inc. now owns 931 shares of the financial services provider's stock worth $912,000 after acquiring an additional 12 shares during the period. Cary Street Partners Investment Advisory LLC lifted its holdings in Equinix by 2.7% in the fourth quarter. Cary Street Partners Investment Advisory LLC now owns 498 shares of the financial services provider's stock valued at $382,000 after acquiring an additional 13 shares during the period. IFP Advisors Inc lifted its holdings in Equinix by 2.2% in the fourth quarter. IFP Advisors Inc now owns 595 shares of the financial services provider's stock valued at $456,000 after acquiring an additional 13 shares during the period. UMB Bank n.a. boosted its position in Equinix by 5.9% in the fourth quarter. UMB Bank n.a. now owns 233 shares of the financial services provider's stock worth $179,000 after purchasing an additional 13 shares during the last quarter. Finally, Crestwood Advisors Group LLC grew its stake in shares of Equinix by 3.7% during the 4th quarter. Crestwood Advisors Group LLC now owns 397 shares of the financial services provider's stock valued at $304,000 after purchasing an additional 14 shares during the period. Hedge funds and other institutional investors own 94.94% of the company's stock.

Equinix Stock Up 0.3%

EQIX opened at $1,091.30 on Friday. The company has a market capitalization of $107.62 billion, a PE ratio of 75.52, a price-to-earnings-growth ratio of 2.03 and a beta of 0.99. The firm has a 50-day simple moving average of $1,079.57 and a two-hundred day simple moving average of $948.17. 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, Inc. has a 52 week low of $720.62 and a 52 week high of $1,128.68.

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 the consensus estimate of $4.30 by $6.49. The firm had revenue of $2.44 billion for the quarter, compared to analysts' expectations of $2.52 billion. Equinix had a return on equity of 10.03% and a net margin of 15.07%.The business's revenue was up 9.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $9.67 earnings per share. Equinix has set its FY 2026 guidance at 42.310-43.110 EPS. Analysts forecast that Equinix, Inc. will post 38.26 earnings per share for the current fiscal year.

Equinix Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 17th. Stockholders of record on Wednesday, May 20th were given a dividend of $5.16 per share. This represents a $20.64 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date was Wednesday, May 20th. Equinix's dividend payout ratio is currently 142.84%.

Insider Buying and Selling at Equinix

In related news, Director Christopher B. Paisley sold 125 shares of the company's stock in a transaction on Monday, May 18th. The shares were sold at an average price of $1,060.29, for a total transaction of $132,536.25. Following the sale, the director owned 17,557 shares of the company's stock, valued at $18,615,511.53. This represents a 0.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Raouf Abdel sold 2,040 shares of the stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $1,083.47, for a total transaction of $2,210,278.80. Following the transaction, the executive vice president owned 5,728 shares of the company's stock, valued at $6,206,116.16. This trade represents a 26.26% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 11,539 shares of company stock valued at $12,455,054. 0.27% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Wells Fargo & Company upped their target price on shares of Equinix from $975.00 to $1,200.00 and gave the company an "overweight" rating in a report on Tuesday, April 21st. Cantor Fitzgerald lifted their price target on shares of Equinix from $1,173.00 to $1,186.00 and gave the stock an "overweight" rating in a research note on Friday, May 1st. Barclays boosted their price objective on shares of Equinix from $1,020.00 to $1,109.00 and gave the company an "equal weight" rating in a research report on Thursday, April 16th. Oppenheimer reaffirmed an "outperform" rating and issued a $1,200.00 target price on shares of Equinix in a report on Thursday, April 30th. Finally, Mizuho lifted their price target on shares of Equinix from $1,165.00 to $1,200.00 and gave the company an "outperform" rating in a report on Thursday, May 7th. Three research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, Equinix currently has an average rating of "Moderate Buy" and a consensus price target of $1,151.67.

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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