Thrivent Financial for Lutherans Sells 1,755 Shares of Equinix, Inc. $EQIX

Key Points

• Thrivent Financial for Lutherans cut its Equinix stake by 8.0% in the fourth quarter, selling 1,755 shares and leaving it with 20,136 shares worth about $15.4 million.
• Equinix reported strong quarterly earnings of $10.79 per share, far above estimates, though revenue of $2.44 billion missed expectations slightly. The company also projected FY 2026 EPS guidance of 42.31 to 43.11.
• The company declared a quarterly dividend of $5.16 per share, payable June 17, while analysts remain broadly positive with a consensus rating of Moderate Buy and a price target of $1,143.60.

Thrivent Financial for Lutherans reduced its stake in Equinix, Inc. (NASDAQ:EQIX - Free Report) by 8.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,136 shares of the financial services provider's stock after selling 1,755 shares during the period. Thrivent Financial for Lutherans' holdings in Equinix were worth $15,429,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Ameriflex Group Inc. lifted its holdings in shares of Equinix by 433.3% during the third quarter. Ameriflex Group Inc. now owns 32 shares of the financial services provider's stock valued at $25,000 after purchasing an additional 26 shares during the last quarter. Princeton Global Asset Management LLC grew its stake in shares of Equinix by 200.0% in the 4th quarter. Princeton Global Asset Management LLC now owns 42 shares of the financial services provider's stock worth $32,000 after buying an additional 28 shares during the last quarter. WPG Advisers LLC grew its stake in shares of Equinix by 51.7% in the 4th quarter. WPG Advisers LLC now owns 44 shares of the financial services provider's stock worth $34,000 after buying an additional 15 shares during the last quarter. Cornerstone Planning Group LLC increased its position in Equinix by 40.6% during the 3rd quarter. Cornerstone Planning Group LLC now owns 45 shares of the financial services provider's stock valued at $37,000 after buying an additional 13 shares in the last quarter. Finally, Activest Wealth Management increased its position in Equinix by 81.5% during the 4th quarter. Activest Wealth Management now owns 49 shares of the financial services provider's stock valued at $38,000 after buying an additional 22 shares in the last quarter. 94.94% of the stock is currently owned by hedge funds and other institutional investors.

Equinix Price Performance

NASDAQ EQIX opened at $1,062.62 on Tuesday. The company has a market capitalization of $104.80 billion, a PE ratio of 73.54, a price-to-earnings-growth ratio of 1.99 and a beta of 1.01. 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 business's fifty day moving average is $1,028.61 and its 200 day moving average is $889.27. Equinix, Inc. has a fifty-two week low of $710.52 and a fifty-two week high of $1,128.68.

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

Equinix Announces Dividend

The company also recently declared 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 is Wednesday, May 20th. Equinix's dividend payout ratio (DPR) is currently 142.84%.

Insiders Place Their Bets

In related news, Chairman Charles J. Meyers sold 5,224 shares of Equinix stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of $1,085.23, for a total value of $5,669,241.52. Following the completion of the transaction, the chairman owned 7,370 shares in the company, valued at approximately $7,998,145.10. This trade represents a 41.48% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Brandi Galvin Morandi sold 424 shares of Equinix stock in a transaction that occurred on Wednesday, April 8th. The stock was sold at an average price of $1,020.00, for a total value of $432,480.00. Following the completion of the transaction, the insider owned 9,970 shares of the company's stock, valued at approximately $10,169,400. This trade represents a 4.08% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 11,604 shares of company stock worth $11,848,264. Insiders own 0.27% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on EQIX shares. UBS Group lifted their price target on Equinix from $950.00 to $1,010.00 and gave the stock a "buy" rating in a research report on Thursday, February 12th. Weiss Ratings upgraded shares of Equinix from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Thursday, May 7th. Citigroup reaffirmed an "outperform" rating on shares of Equinix in a report on Thursday, April 30th. Morgan Stanley upped their target price on shares of Equinix from $1,075.00 to $1,250.00 and gave the stock an "overweight" rating in a research note on Monday, April 13th. Finally, Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and set a $1,207.00 price target on shares of Equinix in a report on Tuesday, May 5th. Four 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's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $1,143.60.

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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