SEB Asset Management AB Takes $69.42 Million Position in Equinix, Inc. $EQIX

Key Points

• SEB Asset Management AB opened a new position in Equinix during the first quarter, buying 70,819 shares valued at about $69.4 million. The stake represents roughly 0.07% of the company.
• Wall Street remains broadly positive on Equinix, with a consensus rating of “Moderate Buy” and an average price target of $1,155.64. Recent firms including BTIG, Guggenheim, and Mizuho reiterated or initiated bullish ratings.
• Equinix reported strong quarterly earnings, posting $10.79 EPS versus expectations of $4.30, while revenue rose 9.8% year over year to $2.44 billion. The company also paid a quarterly dividend of $5.16 per share, equal to a 2.0% yield.

SEB Asset Management AB acquired a new position in Equinix, Inc. (NASDAQ:EQIX - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 70,819 shares of the financial services provider's stock, valued at approximately $69,420,000. SEB Asset Management AB owned 0.07% of Equinix as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Avion Wealth lifted its holdings in Equinix by 73.3% in the 1st quarter. Avion Wealth now owns 26 shares of the financial services provider's stock worth $25,000 after purchasing an additional 11 shares in the last quarter. Physician Wealth Advisors Inc. grew its holdings in Equinix by 266.7% during the 1st quarter. Physician Wealth Advisors Inc. now owns 33 shares of the financial services provider's stock valued at $32,000 after buying an additional 24 shares in the last quarter. Kemnay Advisory Services Inc. purchased a new stake in Equinix during the 4th quarter valued at approximately $30,000. Bogart Wealth LLC raised its position in shares of Equinix by 233.3% during the first quarter. Bogart Wealth LLC now owns 40 shares of the financial services provider's stock valued at $39,000 after buying an additional 28 shares during the last quarter. Finally, Princeton Global Asset Management LLC lifted its holdings 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 worth $32,000 after buying an additional 28 shares in the last quarter. Hedge funds and other institutional investors own 94.94% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on EQIX. BTIG Research initiated coverage on shares of Equinix in a research report on Friday, July 10th. They set a "buy" rating and a $1,210.00 target price for the company. Guggenheim reiterated a "buy" rating and issued a $1,235.00 price target on shares of Equinix in a report on Wednesday, May 20th. Mizuho boosted their price target on shares of Equinix from $1,165.00 to $1,200.00 and gave the stock an "outperform" rating in a research note on Thursday, May 7th. Weiss Ratings raised shares of Equinix from a "hold (c+)" rating to a "buy (b-)" rating in a report on Wednesday, July 8th. Finally, The Goldman Sachs Group lifted their target price on Equinix from $894.00 to $1,015.00 and gave the stock a "neutral" rating in a report on Thursday, April 30th. Three investment analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $1,155.64.

Equinix Stock Up 1.1%

NASDAQ EQIX opened at $1,020.00 on Friday. The stock has a 50 day moving average price of $1,060.68 and a 200-day moving average price of $976.83. Equinix, Inc. has a one year low of $720.62 and a one year high of $1,128.68. The company has a debt-to-equity ratio of 1.39, a quick ratio of 1.18 and a current ratio of 1.18. The company has a market capitalization of $100.59 billion, a P/E ratio of 70.59, a P/E/G ratio of 1.89 and a beta of 0.98.

Equinix (NASDAQ:EQIX - Get Free Report) last announced its quarterly earnings results on Wednesday, April 29th. The financial services provider reported $10.79 earnings per share for the quarter, topping the consensus estimate of $4.30 by $6.49. Equinix had a net margin of 15.07% and a return on equity of 10.03%. The company had revenue of $2.44 billion for the quarter, compared to analysts' expectations of $2.52 billion. During the same quarter in the previous year, the business posted $9.67 earnings per share. Equinix's quarterly revenue 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 predict that Equinix, Inc. will post 38.25 EPS for the current fiscal year.

Equinix Announces Dividend

The firm 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 annualized dividend and a dividend yield of 2.0%. 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 stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $1,060.29, for a total value of $132,536.25. Following the completion of the transaction, the director owned 17,557 shares of the company's stock, valued at approximately $18,615,511.53. This trade represents a 0.71% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Raouf Abdel sold 2,040 shares of Equinix stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $1,083.47, for a total value of $2,210,278.80. Following the completion of the transaction, the executive vice president 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 disclosure for this sale is available in the SEC filing. Insiders have sold a total of 11,115 shares of company stock valued at $12,022,574 over the last quarter. 0.27% of the stock is owned by corporate insiders.

About Equinix

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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