ProShare Advisors LLC Raises Stake in Equinix, Inc. $EQIX

Key Points

• ProShare Advisors LLC increased its stake in Equinix by 5.3% in the fourth quarter, ending with 22,793 shares valued at about $17.46 million.
• Equinix reported strong quarterly earnings, posting $10.79 EPS versus $4.30 expected, while revenue rose 9.8% year over year to $2.44 billion.
• The company declared a quarterly dividend of $5.16 per share and saw several analysts raise price targets, with the stock currently carrying a Moderate Buy consensus and an average target of $1,143.60.

ProShare Advisors LLC increased its holdings in shares of Equinix, Inc. (NASDAQ:EQIX - Free Report) by 5.3% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 22,793 shares of the financial services provider's stock after purchasing an additional 1,147 shares during the quarter. ProShare Advisors LLC's holdings in Equinix were worth $17,463,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. HighTower Advisors LLC raised its stake in shares of Equinix by 1.9% in the 4th quarter. HighTower Advisors LLC now owns 24,009 shares of the financial services provider's stock valued at $18,395,000 after acquiring an additional 450 shares during the period. Stronghold Wealth Management L.L.C. purchased a new stake in Equinix during the 4th quarter worth $506,000. Intrua Financial LLC purchased a new stake in Equinix during the 4th quarter worth $460,000. TD Private Client Wealth LLC increased its holdings in Equinix by 61.2% in the 4th quarter. TD Private Client Wealth LLC now owns 316 shares of the financial services provider's stock valued at $242,000 after purchasing an additional 120 shares in the last quarter. Finally, Tucker Asset Management LLC acquired a new stake in Equinix in the 4th quarter valued at $102,000. 94.94% of the stock is owned by institutional investors and hedge funds.

Equinix Stock Up 1.6%

Shares of NASDAQ EQIX opened at $1,065.06 on Thursday. The company has a debt-to-equity ratio of 1.39, a quick ratio of 1.18 and a current ratio of 1.18. Equinix, Inc. has a 1 year low of $710.52 and a 1 year high of $1,128.68. The stock's 50-day simple moving average is $1,033.25 and its 200-day simple moving average is $892.67. The firm has a market cap of $105.04 billion, a price-to-earnings ratio of 73.71, a PEG ratio of 1.97 and a beta of 1.01.

Equinix (NASDAQ:EQIX - Get Free Report) last issued its quarterly earnings results on Wednesday, April 29th. The financial services provider reported $10.79 EPS for the quarter, beating 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 during the quarter, compared to the consensus estimate of $2.52 billion. During the same quarter in the prior year, the business posted $9.67 earnings per share. Equinix's revenue for the quarter was up 9.8% on a year-over-year basis. Equinix has set its FY 2026 guidance at 42.310-43.110 EPS. As a group, equities analysts anticipate that Equinix, Inc. will post 37.72 earnings per share for the current fiscal year.

Equinix Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 17th. Stockholders of record on Wednesday, May 20th will be given a dividend of $5.16 per share. The ex-dividend date of this dividend is Wednesday, May 20th. This represents a $20.64 dividend on an annualized basis and a dividend yield of 1.9%. Equinix's dividend payout ratio (DPR) is presently 142.84%.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Guggenheim restated a "buy" rating and set a $1,235.00 price objective on shares of Equinix in a research note on Wednesday. Raymond James Financial upgraded Equinix from a "market perform" rating to a "strong-buy" rating and set a $1,250.00 target price on the stock in a report on Thursday, April 30th. Truist Financial set a $1,215.00 price target on Equinix in a research report on Friday, May 1st. HSBC upped their price target on Equinix from $1,100.00 to $1,250.00 and gave the stock a "buy" rating in a report on Monday, April 27th. Finally, Scotiabank lifted their price objective on shares of Equinix from $1,050.00 to $1,120.00 and gave the company a "sector perform" rating in a research note on Thursday, April 30th. Three investment analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $1,143.60.

Insiders Place Their Bets

In related news, Chairman Charles J. Meyers sold 5,224 shares of the company's stock in a transaction on Wednesday, May 6th. The shares were sold at an average price of $1,085.23, for a total value of $5,669,241.52. Following the sale, the chairman directly owned 7,370 shares of the company's stock, valued at $7,998,145.10. This represents a 41.48% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Brandi Galvin Morandi sold 424 shares of the stock in a transaction on Wednesday, April 8th. The shares were sold at an average price of $1,020.00, for a total transaction of $432,480.00. Following the transaction, the insider owned 9,970 shares in the company, valued at $10,169,400. This trade represents a 4.08% 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 quarter, insiders have sold 11,729 shares of company stock valued at $11,980,800. 0.27% of the stock is owned by insiders.

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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