Synovus Financial Corp Buys Shares of 371 Equinix, Inc. $EQIX

Key Points

• Synovus Financial Corp has acquired a new stake in Equinix, purchasing 371 shares valued at approximately $302,000 in the first quarter.
• Other institutional investors, including Vanguard Group, JPMorgan Chase & Co., and Northern Trust Corp, have also increased their holdings in Equinix during the same period.
• Equinix's quarterly earnings showed a significant beat, reporting $9.91 earnings per share, surpassing expectations, while the company's stock has experienced a price target reduction from various analysts.

Synovus Financial Corp bought a new stake in shares of Equinix, Inc. (NASDAQ:EQIX - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 371 shares of the financial services provider's stock, valued at approximately $302,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in shares of Equinix by 1.9% during the 1st quarter. Vanguard Group Inc. now owns 12,906,820 shares of the financial services provider's stock worth $10,523,576,000 after buying an additional 242,121 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Equinix by 22.5% during the 1st quarter. JPMorgan Chase & Co. now owns 1,590,568 shares of the financial services provider's stock worth $1,296,871,000 after buying an additional 291,753 shares in the last quarter. Northern Trust Corp boosted its holdings in shares of Equinix by 2.7% during the 1st quarter. Northern Trust Corp now owns 1,524,515 shares of the financial services provider's stock worth $1,243,013,000 after buying an additional 40,734 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Equinix by 1.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,333,635 shares of the financial services provider's stock worth $1,087,334,000 after buying an additional 25,290 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Equinix by 6.0% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,147,559 shares of the financial services provider's stock worth $1,082,022,000 after buying an additional 65,104 shares in the last quarter. Institutional investors and hedge funds own 94.94% of the company's stock.

Insider Buying and Selling at Equinix

In other Equinix news, CEO Adaire Fox-Martin sold 2,949 shares of the firm's stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $884.91, for a total transaction of $2,609,599.59. Following the transaction, the chief executive officer directly owned 9,615 shares in the company, valued at approximately $8,508,409.65. This trade represents a 23.47% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Christopher B. Paisley sold 75 shares of the firm's stock in a transaction on Monday, August 18th. The shares were sold at an average price of $781.50, for a total value of $58,612.50. Following the transaction, the director owned 17,832 shares in the company, valued at approximately $13,935,708. This trade represents a 0.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.27% of the stock is currently owned by company insiders.

Analyst Ratings Changes

EQIX has been the topic of a number of research analyst reports. UBS Group cut their price target on Equinix from $1,035.00 to $950.00 and set a "buy" rating on the stock in a report on Friday, July 11th. Bank of America cut their price target on Equinix from $1,000.00 to $950.00 and set a "buy" rating on the stock in a report on Thursday, June 26th. Barclays increased their price target on Equinix from $798.00 to $804.00 and gave the stock an "equal weight" rating in a report on Wednesday, August 20th. Wall Street Zen cut Equinix from a "hold" rating to a "sell" rating in a report on Saturday, August 16th. Finally, Wells Fargo & Company reduced their price target on shares of Equinix from $1,065.00 to $925.00 and set an "overweight" rating for the company in a research report on Thursday, June 26th. Five research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of $962.52.

Equinix Stock Performance

Shares of EQIX stock opened at $786.19 on Friday. The company has a current ratio of 1.54, a quick ratio of 1.54 and a debt-to-equity ratio of 1.29. The firm has a fifty day simple moving average of $786.16 and a two-hundred day simple moving average of $833.85. Equinix, Inc. has a 12 month low of $701.41 and a 12 month high of $994.03. The firm has a market capitalization of $76.94 billion, a PE ratio of 77.00, a price-to-earnings-growth ratio of 1.40 and a beta of 0.90.

Equinix (NASDAQ:EQIX - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The financial services provider reported $9.91 earnings per share for the quarter, beating the consensus estimate of $3.49 by $6.42. Equinix had a return on equity of 7.22% and a net margin of 11.11%.The business had revenue of $2.26 billion for the quarter, compared to analysts' expectations of $2.26 billion. During the same period last year, the business earned $9.22 EPS. The business's revenue was up 4.5% on a year-over-year basis. Equinix has set its Q3 2025 guidance at EPS. FY 2025 guidance at 37.670-38.480 EPS. Analysts forecast that Equinix, Inc. will post 33.1 EPS for the current fiscal year.

Equinix Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 17th. Shareholders of record on Wednesday, August 20th will be paid a dividend of $4.69 per share. The ex-dividend date is Wednesday, August 20th. This represents a $18.76 annualized dividend and a yield of 2.4%. Equinix's dividend payout ratio (DPR) is 183.74%.

Equinix Profile

Equinix Nasdaq: EQIX is the world's digital infrastructure company . Digital leaders harness Equinix's trusted platform to bring together and interconnect foundational infrastructure at software speed. Equinix enables organizations to access all the right places, partners and possibilities to scale with agility, speed the launch of digital services, deliver world-class experiences and multiply their value, while supporting their sustainability goals.

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