UNIVEST FINANCIAL Corp Acquires Shares of 6,431 Equinix, Inc. $EQIX

Key Points

• UNIVEST FINANCIAL Corp acquired 6,431 Equinix shares during the second quarter, worth approximately $6.7 million. Institutional investors collectively own 94.94% of EQIX.
• Equinix reported strong quarterly results, with revenue rising 16.4% year over year to $2.62 billion and adjusted earnings of $11.78 per share, well above analysts’ $4.73 estimate.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and a $1,202.20 price target; Equinix also announced a quarterly dividend of $5.16 per share, yielding about 1.9% annually.

UNIVEST FINANCIAL Corp bought a new position in shares of Equinix, Inc. (NASDAQ:EQIX - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 6,431 shares of the financial services provider's stock, valued at approximately $6,703,000.

Several other hedge funds also recently made changes to their positions in EQIX. Vanguard Group Inc. raised its holdings in Equinix by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 13,398,906 shares of the financial services provider's stock valued at $10,265,706,000 after acquiring an additional 107,227 shares in the last quarter. BlackRock Inc. bought a new position in shares of Equinix in the second quarter worth $11,930,074,000. Cohen & Steers Inc. raised its stake in Equinix by 23.3% in the fourth quarter. Cohen & Steers Inc. now owns 2,609,011 shares of the financial services provider's stock valued at $1,998,978,000 after purchasing an additional 493,141 shares in the last quarter. Geode Capital Management LLC grew its stake in Equinix by 1.0% during the fourth quarter. Geode Capital Management LLC now owns 2,567,830 shares of the financial services provider's stock worth $1,959,731,000 after buying an additional 25,383 shares in the last quarter. Finally, Principal Financial Group Inc. increased its holdings in Equinix by 1.4% in the 1st quarter. Principal Financial Group Inc. now owns 1,980,497 shares of the financial services provider's stock valued at $1,941,377,000 after buying an additional 27,643 shares during the period. 94.94% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Equinix news, Director Christopher B. Paisley sold 4,000 shares of the company's stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $1,019.28, for a total value of $4,077,120.00. Following the completion of the transaction, the director directly owned 13,859 shares in the company, valued at approximately $14,126,201.52. This represents a 22.40% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Brandi Galvin Morandi sold 3,726 shares of Equinix stock in a transaction on Monday, June 8th. The stock was sold at an average price of $1,076.36, for a total transaction of $4,010,517.36. Following the transaction, the insider owned 6,132 shares in the company, valued at approximately $6,600,239.52. This trade represents a 37.80% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 9,766 shares of company stock valued at $10,297,916 in the last ninety days. 0.27% of the stock is currently owned by insiders.

Equinix Trading Down 0.4%

Shares of EQIX stock opened at $1,097.61 on Tuesday. Equinix, Inc. has a twelve month low of $720.62 and a twelve month high of $1,128.68. The stock's fifty day simple moving average is $1,050.40 and its 200 day simple moving average is $1,016.68. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 1.44. The firm has a market capitalization of $108.30 billion, a P/E ratio of 70.68, a P/E/G ratio of 1.56 and a beta of 0.99.

Equinix (NASDAQ:EQIX - Get Free Report) last announced its quarterly earnings results on Wednesday, July 29th. The financial services provider reported $11.78 EPS for the quarter, beating analysts' consensus estimates of $4.73 by $7.05. The firm had revenue of $2.62 billion for the quarter, compared to analyst estimates of $2.59 billion. Equinix had a return on equity of 10.76% and a net margin of 15.64%.The business's revenue for the quarter was up 16.4% on a year-over-year basis. During the same period last year, the firm posted $9.91 earnings per share. Equinix has set its FY 2026 guidance at 42.690-43.290 EPS. As a group, sell-side analysts predict that Equinix, Inc. will post 38.23 EPS for the current fiscal year.

Equinix Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 16th. Investors of record on Wednesday, August 19th will be given a dividend of $5.16 per share. The ex-dividend date is Wednesday, August 19th. This represents a $20.64 annualized dividend and a yield of 1.9%. Equinix's dividend payout ratio (DPR) is currently 132.90%.

Analysts Set New Price Targets

Several brokerages have commented on EQIX. BTIG Research started coverage on shares of Equinix in a research report on Friday, July 10th. They set a "buy" rating and a $1,210.00 price objective for the company. Royal Bank Of Canada raised their price objective on Equinix from $1,125.00 to $1,225.00 and gave the company an "outperform" rating in a research note on Wednesday, August 5th. Scotiabank reiterated a "sector perform" rating and issued a $1,208.00 target price on shares of Equinix in a research report on Thursday, July 30th. Deutsche Bank Aktiengesellschaft reissued a "buy" rating and set a $1,270.00 target price on shares of Equinix in a research note on Monday, August 3rd. Finally, Barclays lifted their price target on shares of Equinix from $1,109.00 to $1,130.00 and gave the company an "equal weight" rating in a report on Wednesday, July 1st. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $1,202.20.

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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