Swiss National Bank Sells 13,800 Shares of Equinix, Inc. $EQIX

Key Points

• Swiss National Bank reduced its Equinix stake by 4.9% in the fourth quarter, selling 13,800 shares and ending with 268,203 shares valued at about $205.5 million.
• Wall Street remains upbeat on Equinix, with multiple analysts issuing Buy or Strong Buy ratings and an average target price of $1,143.60; Barclays, Jefferies, Deutsche Bank, and Cantor Fitzgerald all raised or reaffirmed positive outlooks.
• Equinix reported strong quarterly earnings, posting $10.79 EPS versus the $4.30 consensus estimate and revenue up 9.8% year over year, while also declaring a $5.16 quarterly dividend payable June 17.

Swiss National Bank decreased its stake in shares of Equinix, Inc. (NASDAQ:EQIX - Free Report) by 4.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 268,203 shares of the financial services provider's stock after selling 13,800 shares during the period. Swiss National Bank owned approximately 0.27% of Equinix worth $205,486,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the stock. Douglas Lane & Associates LLC boosted its stake 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 acquiring an additional 4,241 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in 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. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its stake in Equinix by 71.1% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 100,791 shares of the financial services provider's stock worth $78,944,000 after acquiring an additional 41,887 shares in the last quarter. Caprock Group LLC bought a new stake in Equinix during the third quarter worth about $1,748,000. Finally, NEOS Investment Management LLC boosted its stake in Equinix by 62.1% during the third quarter. NEOS Investment Management LLC now owns 18,777 shares of the financial services provider's stock worth $14,707,000 after acquiring an additional 7,196 shares in the last quarter. Institutional investors own 94.94% of the company's stock.

Wall Street Analysts Forecast Growth

EQIX has been the topic of several research reports. Barclays boosted 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 note on Thursday, April 16th. Citigroup reissued a "buy" rating on shares of Equinix in a research note on Wednesday, June 3rd. Jefferies Financial Group boosted their price objective on shares of Equinix from $950.00 to $1,000.00 and gave the stock a "buy" rating in a research note on Thursday, February 12th. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and issued a $1,207.00 target price on shares of Equinix in a report on Tuesday, May 5th. Finally, Cantor Fitzgerald lifted their target price on shares of Equinix from $1,173.00 to $1,186.00 and gave the stock an "overweight" rating in a report on Friday, May 1st. Three research analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $1,143.60.

Equinix Stock Up 0.5%

Shares of Equinix stock opened at $1,043.18 on Friday. 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 stock has a market capitalization of $102.88 billion, a PE ratio of 72.19, a price-to-earnings-growth ratio of 1.95 and a beta of 0.99. Equinix, Inc. has a 52-week low of $710.52 and a 52-week high of $1,128.68. The company has a 50-day simple moving average of $1,065.03 and a two-hundred day simple moving average of $922.66.

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 (EPS) for the quarter, topping the consensus estimate of $4.30 by $6.49. The business had revenue of $2.44 billion during the quarter, compared to analysts' expectations of $2.52 billion. Equinix had a net margin of 15.07% and a return on equity of 10.03%. The business's revenue for the quarter was up 9.8% compared to the same quarter last year. 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, analysts anticipate that Equinix, Inc. will post 37.72 EPS for the current fiscal year.

Equinix Dividend Announcement

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

Insider Activity

In other news, Director Christopher B. Paisley sold 125 shares of the business's stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $1,060.29, for a total transaction of $132,536.25. Following the completion of the transaction, the director directly owned 17,557 shares of the company's stock, valued at $18,615,511.53. The trade was a 0.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Brandi Galvin Morandi sold 3,726 shares of the business's stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $1,076.36, for a total transaction of $4,010,517.36. Following the transaction, the insider directly owned 6,132 shares of the company's stock, valued at $6,600,239.52. The trade was a 37.80% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 11,539 shares of company stock valued at $12,455,054 over the last ninety days. 0.27% of the stock is currently owned by corporate insiders.

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.

Want to see what other hedge funds are holding EQIX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Equinix, Inc. (NASDAQ:EQIX - Free Report).

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.