Swedbank AB Lowers Position in Equinix, Inc. $EQIX

Key Points

• Swedbank AB reduced its Equinix stake by 17.1% in the fourth quarter, selling 23,392 shares and leaving it with 113,401 shares worth about $86.9 million.
• Analysts remain constructive on Equinix, with multiple firms raising price targets and the stock carrying an average “Moderate Buy” rating and a consensus target of $1,143.60.
• Equinix posted strong quarterly earnings, reporting EPS of $10.79 versus the $4.30 estimate and 9.8% year-over-year revenue growth, while also declaring a $5.16 quarterly dividend.

Swedbank AB cut its stake in Equinix, Inc. (NASDAQ:EQIX - Free Report) by 17.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 113,401 shares of the financial services provider's stock after selling 23,392 shares during the quarter. Swedbank AB owned 0.12% of Equinix worth $86,883,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Ameriflex Group Inc. raised its stake in shares of Equinix by 433.3% in the third quarter. Ameriflex Group Inc. now owns 32 shares of the financial services provider's stock worth $25,000 after purchasing an additional 26 shares during the last quarter. Princeton Global Asset Management LLC raised its stake 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 purchasing an additional 28 shares during the last quarter. WPG Advisers LLC raised its stake in shares of Equinix by 51.7% in the fourth quarter. WPG Advisers LLC now owns 44 shares of the financial services provider's stock worth $34,000 after purchasing an additional 15 shares during the last quarter. Cornerstone Planning Group LLC raised its stake in shares of Equinix by 40.6% in the third quarter. Cornerstone Planning Group LLC now owns 45 shares of the financial services provider's stock worth $37,000 after purchasing an additional 13 shares during the last quarter. Finally, Activest Wealth Management raised its stake in shares of Equinix by 81.5% in the fourth quarter. Activest Wealth Management now owns 49 shares of the financial services provider's stock worth $38,000 after purchasing an additional 22 shares during the last quarter. 94.94% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on EQIX. Deutsche Bank Aktiengesellschaft reissued a "buy" rating and issued a $1,207.00 price objective on shares of Equinix in a research note on Tuesday, May 5th. Citigroup reaffirmed an "outperform" rating on shares of Equinix in a report on Thursday, April 30th. Morgan Stanley upped their target price on Equinix from $1,075.00 to $1,250.00 and gave the company an "overweight" rating in a report on Monday, April 13th. Barclays upped their target price on Equinix from $1,020.00 to $1,109.00 and gave the company an "equal weight" rating in a report on Thursday, April 16th. Finally, Wells Fargo & Company upped their target price on Equinix from $975.00 to $1,200.00 and gave the company an "overweight" rating in a report on Tuesday, April 21st. Three investment analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, Equinix has an average rating of "Moderate Buy" and an average price target of $1,143.60.

Insider Buying and Selling at Equinix

In other Equinix news, insider Brandi Galvin Morandi sold 630 shares of the stock in a transaction on Thursday, March 12th. The stock was sold at an average price of $961.19, for a total transaction of $605,549.70. Following the sale, the insider owned 10,394 shares in the company, valued at $9,990,608.86. This represents a 5.71% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Jonathan Lin sold 635 shares of the stock in a transaction on Thursday, March 12th. The stock was sold at an average price of $965.71, for a total value of $613,225.85. Following the sale, the insider owned 10,788 shares in the company, valued at approximately $10,418,079.48. This represents a 5.56% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 11,729 shares of company stock valued at $11,980,800 in the last quarter. Insiders own 0.27% of the company's stock.

Equinix Stock Performance

EQIX stock opened at $1,079.79 on Friday. The firm has a market cap of $106.49 billion, a PE ratio of 74.73, a P/E/G ratio of 2.03 and a beta of 1.01. 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 business has a 50 day moving average of $1,037.82 and a 200-day moving average of $895.60. Equinix, Inc. has a 12-month low of $710.52 and a 12-month high of $1,128.68.

Equinix (NASDAQ:EQIX - Get Free Report) last released its earnings results on Wednesday, April 29th. The financial services provider reported $10.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.30 by $6.49. The company had revenue of $2.44 billion during the quarter, compared to analyst estimates of $2.52 billion. Equinix had a return on equity of 10.03% and a net margin of 15.07%.Equinix's quarterly revenue was up 9.8% on a year-over-year basis. During the same period in the prior year, the company posted $9.67 earnings per share. Equinix has set its FY 2026 guidance at 42.310-43.110 EPS. As a group, sell-side analysts expect that Equinix, Inc. will post 37.72 earnings per share for the current year.

Equinix Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 17th. Shareholders of record on Wednesday, May 20th will be issued a dividend of $5.16 per share. This represents a $20.64 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend is Wednesday, May 20th. Equinix's dividend payout ratio is 142.84%.

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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