UNIVEST FINANCIAL Corp Sells 1,015 Shares of Equinix, Inc. $EQIX

Key Points

• UNIVEST FINANCIAL Corp cut its Equinix stake by 16.7% in the fourth quarter, selling 1,015 shares and ending with 5,079 shares worth about $3.89 million.
• Equinix reported better-than-expected earnings for the latest quarter, posting $10.79 EPS versus $4.30 expected, while revenue rose 9.8% year over year to $2.44 billion.
• The company also declared a quarterly dividend of $5.16 per share, and Wall Street sentiment remains positive with a consensus rating of Moderate Buy and an average target price of $1,143.60.

UNIVEST FINANCIAL Corp decreased its position in Equinix, Inc. (NASDAQ:EQIX - Free Report) by 16.7% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 5,079 shares of the financial services provider's stock after selling 1,015 shares during the period. UNIVEST FINANCIAL Corp's holdings in Equinix were worth $3,891,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Quent Capital LLC grew its holdings in shares of Equinix by 4.2% in the third quarter. Quent Capital LLC now owns 298 shares of the financial services provider's stock worth $233,000 after purchasing an additional 12 shares during the last quarter. Paragon Private Wealth Management LLC grew its holdings in shares of Equinix by 2.7% in the third quarter. Paragon Private Wealth Management LLC now owns 495 shares of the financial services provider's stock worth $388,000 after purchasing an additional 13 shares during the last quarter. Cornerstone Planning Group LLC grew its holdings in shares of Equinix by 40.6% in the third quarter. Cornerstone Planning Group LLC now owns 45 shares of the financial services provider's stock worth $37,000 after purchasing an additional 13 shares during the last quarter. Crestwood Advisors Group LLC grew its holdings in shares of Equinix by 3.7% in the fourth quarter. Crestwood Advisors Group LLC now owns 397 shares of the financial services provider's stock worth $304,000 after purchasing an additional 14 shares during the last quarter. Finally, Howard Capital Management Inc. grew its holdings in shares of Equinix by 2.3% in the third quarter. Howard Capital Management Inc. now owns 664 shares of the financial services provider's stock worth $520,000 after purchasing an additional 15 shares during the last quarter. Institutional investors own 94.94% of the company's stock.

Equinix Stock Performance

NASDAQ:EQIX opened at $1,072.08 on Friday. The stock has a market cap of $105.73 billion, a P/E ratio of 74.19, a price-to-earnings-growth ratio of 2.02 and a beta of 1.01. The firm's fifty day simple moving average is $1,013.11 and its 200 day simple moving average is $877.22. Equinix, Inc. has a twelve month low of $710.52 and a twelve month high of $1,128.68. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 1.39.

Equinix (NASDAQ:EQIX - Get Free Report) last released 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 analysts' expectations of $2.52 billion. Equinix had a net margin of 15.07% and a return on equity of 10.03%. The firm's revenue for the quarter was up 9.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $9.67 earnings per share. Equinix has set its FY 2026 guidance at 42.310-43.110 EPS. As a group, research analysts predict that Equinix, Inc. will post 37.72 EPS for the current year.

Equinix Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 17th. Investors of record on Wednesday, May 20th will be issued a $5.16 dividend. The ex-dividend date is Wednesday, May 20th. This represents a $20.64 annualized dividend and a yield of 1.9%. Equinix's payout ratio is 142.84%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on EQIX shares. Zacks Research upgraded shares of Equinix from a "hold" rating to a "strong-buy" rating in a report on Thursday, April 9th. Jefferies Financial Group raised their target price on shares of Equinix from $950.00 to $1,000.00 and gave the stock a "buy" rating in a report on Thursday, February 12th. Evercore restated an "outperform" rating and issued a $1,240.00 target price on shares of Equinix in a report on Tuesday, April 28th. Oppenheimer restated an "outperform" rating and issued a $1,200.00 target price on shares of Equinix in a report on Thursday, April 30th. Finally, Deutsche Bank Aktiengesellschaft restated a "buy" rating and issued a $1,207.00 target price on shares of Equinix in a report on Tuesday. Four investment 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. According to MarketBeat.com, Equinix currently has an average rating of "Moderate Buy" and a consensus target price of $1,143.60.

Insiders Place Their Bets

In other Equinix news, Chairman Charles J. Meyers sold 5,224 shares of the firm's stock in a transaction on Wednesday, May 6th. The stock was sold at an average price of $1,085.23, for a total transaction of $5,669,241.52. Following the completion of the transaction, the chairman owned 7,370 shares of the company's stock, valued at approximately $7,998,145.10. This trade represents a 41.48% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Raouf Abdel sold 584 shares of the firm's stock in a transaction on Thursday, March 12th. The shares were sold at an average price of $965.69, for a total value of $563,962.96. Following the transaction, the executive vice president directly owned 7,768 shares of the company's stock, valued at $7,501,479.92. This represents a 6.99% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 11,604 shares of company stock valued at $11,848,264 over the last quarter. 0.27% of the stock is owned by company 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.

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