Swiss Life Asset Management Ltd Purchases 2,894 Shares of Equinix, Inc. $EQIX

Key Points

• Swiss Life Asset Management increased its Equinix stake by 16% in the fourth quarter, buying 2,894 additional shares and bringing its total holdings to 20,967 shares valued at about $16.1 million.
• Institutional ownership of Equinix remains very high at 94.94%, with several major firms like Vanguard, JPMorgan, and UBS also adding to their positions.
• Equinix reported strong quarterly earnings, beating EPS expectations by a wide margin, while analysts remain bullish overall with a consensus rating of Moderate Buy and an average price target of $1,143.60.

Swiss Life Asset Management Ltd raised its position in Equinix, Inc. (NASDAQ:EQIX - Free Report) by 16.0% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 20,967 shares of the financial services provider's stock after purchasing an additional 2,894 shares during the period. Swiss Life Asset Management Ltd's holdings in Equinix were worth $16,064,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. increased its position in shares of Equinix by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 13,398,906 shares of the financial services provider's stock worth $10,265,706,000 after acquiring an additional 107,227 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Equinix by 25.8% during the third quarter. JPMorgan Chase & Co. now owns 2,875,355 shares of the financial services provider's stock worth $2,252,094,000 after acquiring an additional 588,967 shares in the last quarter. Principal Financial Group Inc. increased its position in shares of Equinix by 3.0% during the third quarter. Principal Financial Group Inc. now owns 1,969,498 shares of the financial services provider's stock worth $1,542,595,000 after acquiring an additional 56,592 shares in the last quarter. APG Asset Management US Inc. increased its position in shares of Equinix by 0.4% during the third quarter. APG Asset Management US Inc. now owns 1,211,357 shares of the financial services provider's stock worth $937,530,000 after acquiring an additional 5,109 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Equinix by 408.1% during the third quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,186,497 shares of the financial services provider's stock worth $929,312,000 after acquiring an additional 953,001 shares in the last quarter. Institutional investors own 94.94% of the company's stock.

Wall Street Analysts Forecast Growth

EQIX has been the subject of several research reports. HSBC increased their price objective on shares of Equinix from $1,100.00 to $1,250.00 and gave the stock a "buy" rating in a research report on Monday, April 27th. Oppenheimer reissued an "outperform" rating and set a $1,200.00 price objective on shares of Equinix in a research report on Thursday, April 30th. Barclays increased their price objective on shares of Equinix from $1,020.00 to $1,109.00 and gave the stock an "equal weight" rating in a research report on Thursday, April 16th. Sanford C. Bernstein initiated coverage on shares of Equinix in a research report on Thursday, March 5th. They set an "outperform" rating and a $1,128.00 price objective for the company. Finally, Morgan Stanley increased their price objective on shares of Equinix from $1,075.00 to $1,250.00 and gave the stock an "overweight" rating in a research report on Monday, April 13th. Four 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 stock. Based on data from MarketBeat, Equinix has a consensus rating of "Moderate Buy" and a consensus price target of $1,143.60.

Equinix Stock Performance

Shares of EQIX opened at $1,086.22 on Tuesday. Equinix, Inc. has a 12 month low of $710.52 and a 12 month high of $1,128.68. The firm has a fifty day simple moving average of $1,018.11 and a 200 day simple moving average of $880.82. The stock has a market capitalization of $107.12 billion, a price-to-earnings ratio of 75.17, a PEG ratio of 2.02 and a beta of 1.01. 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 announced its earnings results on Wednesday, April 29th. The financial services provider reported $10.79 EPS 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 business had revenue of $2.44 billion during the quarter, compared to analysts' expectations of $2.52 billion. During the same quarter in the prior year, the company posted $9.67 earnings per share. The firm's revenue was up 9.8% on a year-over-year basis. Equinix has set its FY 2026 guidance at 42.310-43.110 EPS. Research analysts forecast that Equinix, Inc. will post 37.72 EPS for the current fiscal year.

Equinix Dividend Announcement

The firm 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. The ex-dividend date is Wednesday, May 20th. This represents a $20.64 annualized dividend and a yield of 1.9%. Equinix's dividend payout ratio is presently 142.84%.

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 shares were sold at an average price of $961.19, for a total value of $605,549.70. Following the completion of the sale, the insider owned 10,394 shares in the company, valued at $9,990,608.86. This trade represents a 5.71% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Chairman Charles J. Meyers sold 5,224 shares of the 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 completion of the sale, the chairman owned 7,370 shares of the company's stock, valued at approximately $7,998,145.10. This represents a 41.48% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 11,604 shares of company stock valued at $11,848,264 in the last three months. 0.27% of the stock is currently owned by insiders.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.