Strs Ohio Sells 10,591 Shares of Equinix, Inc. $EQIX

Key Points

• Strs Ohio trimmed its Equinix stake by 8.8% in the first quarter, selling 10,591 shares and ending with 109,973 shares valued at about $107.8 million.
• Equinix reported strong quarterly earnings, posting $10.79 EPS versus the $4.30 consensus estimate, while revenue rose 9.8% year over year to $2.44 billion.
• Wall Street remains broadly positive on EQIX, with a consensus rating of “Moderate Buy” and an average price target of $1,153.38, though some analysts recently lowered or adjusted their views.

Strs Ohio decreased its stake in shares of Equinix, Inc. (NASDAQ:EQIX - Free Report) by 8.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 109,973 shares of the financial services provider's stock after selling 10,591 shares during the period. Strs Ohio owned about 0.11% of Equinix worth $107,800,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of EQIX. Douglas Lane & Associates LLC boosted its holdings in Equinix by 3.9% during the fourth quarter. Douglas Lane & Associates LLC now owns 112,030 shares of the financial services provider's stock worth $85,833,000 after purchasing an additional 4,241 shares during the last quarter. Vanderbilt University increased its stake in Equinix by 65.9% in the 4th quarter. Vanderbilt University now owns 10,298 shares of the financial services provider's stock valued at $7,890,000 after buying an additional 4,089 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in shares of Equinix by 6.3% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 52,265 shares of the financial services provider's stock worth $40,043,000 after buying an additional 3,108 shares in the last quarter. Perigon Wealth Management LLC lifted its position in shares of Equinix by 141.1% during the 4th quarter. Perigon Wealth Management LLC now owns 3,178 shares of the financial services provider's stock worth $2,435,000 after buying an additional 1,860 shares in the last quarter. Finally, Generali Investments CEE investicni spolecnost a.s. boosted its stake in shares of Equinix by 305.7% in the 4th quarter. Generali Investments CEE investicni spolecnost a.s. now owns 11,766 shares of the financial services provider's stock worth $9,015,000 after buying an additional 8,866 shares during the last quarter. Institutional investors own 94.94% of the company's stock.

Equinix Trading Down 1.1%

Shares of EQIX stock opened at $1,002.02 on Friday. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 1.39. The firm has a market cap of $98.82 billion, a P/E ratio of 69.34, a PEG ratio of 1.88 and a beta of 0.98. The company has a 50 day moving average of $1,075.27 and a 200-day moving average of $957.83. Equinix, Inc. has a 12-month low of $720.62 and a 12-month high of $1,128.68.

Equinix (NASDAQ:EQIX - Get Free Report) last posted its quarterly earnings data on Wednesday, April 29th. The financial services provider reported $10.79 EPS for the quarter, beating the consensus estimate of $4.30 by $6.49. Equinix had a return on equity of 10.03% and a net margin of 15.07%.The business had revenue of $2.44 billion for the quarter, compared to the consensus estimate of $2.52 billion. During the same quarter in the prior year, the business earned $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. Sell-side analysts anticipate that Equinix, Inc. will post 38.26 earnings per share for the current year.

Equinix Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 17th. Investors of record on Wednesday, May 20th were issued a $5.16 dividend. The ex-dividend date of this dividend was Wednesday, May 20th. This represents a $20.64 annualized dividend and a yield of 2.1%. Equinix's dividend payout ratio (DPR) is 142.84%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on EQIX shares. Truist Financial set a $1,215.00 target price on Equinix in a report on Friday, May 1st. Weiss Ratings cut Equinix from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Tuesday, June 23rd. The Goldman Sachs Group upped their price objective on Equinix from $894.00 to $1,015.00 and gave the company a "neutral" rating in a research note on Thursday, April 30th. Morgan Stanley raised their target price on Equinix from $1,075.00 to $1,250.00 and gave the company an "overweight" rating in a research report on Monday, April 13th. Finally, Guggenheim reiterated a "buy" rating and set a $1,235.00 target price on shares of Equinix in a research note on Wednesday, May 20th. Three investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, Equinix has an average rating of "Moderate Buy" and a consensus target price of $1,153.38.

Insider Transactions at Equinix

In other news, Chairman Charles J. Meyers sold 5,224 shares of the company's stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of $1,085.23, for a total transaction of $5,669,241.52. Following the sale, the chairman directly owned 7,370 shares in the company, valued at $7,998,145.10. This represents a 41.48% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Christopher B. Paisley sold 125 shares of the company's stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $1,060.29, for a total transaction of $132,536.25. Following the sale, the director directly owned 17,557 shares in the company, valued at $18,615,511.53. This trade represents a 0.71% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 11,539 shares of company stock worth $12,455,054. Insiders own 0.27% of the company's stock.

Equinix Company 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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