Sharpepoint LLC Takes Position in Equinix, Inc. $EQIX

Key Points

• Sharpepoint LLC opened a new position in Equinix during the fourth quarter, buying 2,505 shares valued at about $1.92 million.
• Analysts remain broadly positive on EQIX, with a Moderate Buy consensus and an average price target of $1,143.60; several firms recently raised targets or reiterated bullish ratings.
• Equinix reported strong quarterly results, with EPS of $10.79 beating estimates, and it also announced a $5.16 quarterly dividend payable June 17 for a 2.0% annualized yield.

Sharpepoint LLC bought a new stake in Equinix, Inc. (NASDAQ:EQIX - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 2,505 shares of the financial services provider's stock, valued at approximately $1,919,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Douglas Lane & Associates LLC lifted its stake in Equinix by 3.9% in the fourth quarter. Douglas Lane & Associates LLC now owns 112,030 shares of the financial services provider's stock valued at $85,833,000 after buying an additional 4,241 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Equinix by 25.8% in the third quarter. JPMorgan Chase & Co. now owns 2,875,355 shares of the financial services provider's stock valued at $2,252,094,000 after purchasing an additional 588,967 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its holdings in shares of Equinix by 71.1% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 100,791 shares of the financial services provider's stock valued at $78,944,000 after purchasing an additional 41,887 shares during the last quarter. Caprock Group LLC acquired a new stake in shares of Equinix in the third quarter valued at approximately $1,748,000. Finally, NEOS Investment Management LLC raised its holdings in shares of Equinix by 62.1% in the third quarter. NEOS Investment Management LLC now owns 18,777 shares of the financial services provider's stock valued at $14,707,000 after purchasing an additional 7,196 shares during the last quarter. Institutional investors own 94.94% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on EQIX shares. 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 report on Thursday, April 30th. Truist Financial set a $1,215.00 price objective on shares of Equinix in a report on Friday, May 1st. Evercore reiterated an "outperform" rating and issued a $1,240.00 price objective on shares of Equinix in a report on Tuesday, April 28th. Cantor Fitzgerald lifted their price objective on shares of Equinix from $1,173.00 to $1,186.00 and gave the company an "overweight" rating in a report on Friday, May 1st. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Equinix from $1,100.00 to $1,200.00 and gave the company an "overweight" rating in a report on Thursday, April 30th. Three investment analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $1,143.60.

Insider Activity

In related news, Chairman Charles J. Meyers sold 5,224 shares of the business's stock in a transaction on Wednesday, May 6th. The shares were sold at an average price of $1,085.23, for a total transaction of $5,669,241.52. Following the transaction, the chairman directly owned 7,370 shares in the company, valued at approximately $7,998,145.10. The trade was a 41.48% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Raouf Abdel sold 2,040 shares of the business's stock in a transaction on Friday, May 22nd. The stock was 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 in the company, valued at approximately $6,206,116.16. The trade was a 26.26% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 11,539 shares of company stock valued at $12,455,054 in the last ninety days. Corporate insiders own 0.27% of the company's stock.

Equinix Price Performance

Shares of EQIX opened at $1,038.33 on Thursday. The company has a market cap of $102.40 billion, a price-to-earnings ratio of 71.86, a PEG ratio of 1.99 and a beta of 0.99. Equinix, Inc. has a 1-year low of $710.52 and a 1-year high of $1,128.68. The company's fifty day simple moving average is $1,063.77 and its 200 day simple moving average is $920.63. The company has a current ratio of 1.18, a quick 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 for the quarter, topping analysts' consensus estimates of $4.30 by $6.49. The business had revenue of $2.44 billion for the quarter, compared to the consensus estimate of $2.52 billion. Equinix had a net margin of 15.07% and a return on equity of 10.03%. The firm's revenue for the quarter was up 9.8% on a year-over-year basis. During the same period in the previous year, the company earned $9.67 earnings per share. Equinix has set its FY 2026 guidance at 42.310-43.110 EPS. On average, research analysts forecast that Equinix, Inc. will post 37.72 earnings per share for the current fiscal year.

Equinix Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 17th. Investors of record on Wednesday, May 20th will be issued a dividend of $5.16 per share. This represents a $20.64 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date is Wednesday, May 20th. Equinix's payout ratio is presently 142.84%.

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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