1832 Asset Management L.P. Purchases 13,226 Shares of Equinix, Inc. $EQIX

1832 Asset Management L.P. raised its position in shares of Equinix, Inc. (NASDAQ:EQIX) by 27.0% in the second quarter, Holdings Channel reports. The firm owned 62,236 shares of the financial services provider’s stock after acquiring an additional 13,226 shares during the quarter. 1832 Asset Management L.P.’s holdings in Equinix were worth $49,507,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the company. CW Advisors LLC grew its holdings in shares of Equinix by 0.8% during the second quarter. CW Advisors LLC now owns 3,830 shares of the financial services provider’s stock valued at $3,047,000 after buying an additional 32 shares during the last quarter. PharVision Advisers LLC purchased a new position in Equinix in the 2nd quarter worth approximately $437,000. Twin Peaks Wealth Advisors LLC bought a new position in Equinix in the 2nd quarter valued at approximately $48,000. Groupe la Francaise boosted its stake in Equinix by 40.0% during the 2nd quarter. Groupe la Francaise now owns 5,268 shares of the financial services provider’s stock valued at $4,174,000 after purchasing an additional 1,506 shares during the last quarter. Finally, Beacon Pointe Advisors LLC increased its holdings in shares of Equinix by 2.1% in the 2nd quarter. Beacon Pointe Advisors LLC now owns 1,144 shares of the financial services provider’s stock worth $910,000 after purchasing an additional 23 shares in the last quarter. 94.94% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

EQIX has been the topic of a number of research analyst reports. Barclays upped their price target on Equinix from $798.00 to $804.00 and gave the company an “equal weight” rating in a report on Wednesday, August 20th. JPMorgan Chase & Co. boosted their target price on Equinix from $940.00 to $950.00 and gave the stock an “overweight” rating in a research report on Thursday, October 30th. Truist Financial raised their price target on shares of Equinix from $961.00 to $973.00 and gave the company a “buy” rating in a report on Tuesday, November 18th. Wall Street Zen upgraded shares of Equinix from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. Finally, Morgan Stanley began coverage on shares of Equinix in a report on Thursday, October 16th. They set an “overweight” rating and a $950.00 price objective for the company. Four investment 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 stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $961.33.

Insiders Place Their Bets

In related news, insider Jonathan Lin sold 124 shares of the firm’s stock in a transaction on Tuesday, December 2nd. The stock was sold at an average price of $731.18, for a total value of $90,666.32. Following the transaction, the insider directly owned 8,299 shares of the company’s stock, valued at approximately $6,068,062.82. This trade represents a 1.47% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Adaire Fox-Martin sold 2,894 shares of the company’s stock in a transaction dated Tuesday, December 2nd. The stock was sold at an average price of $731.09, for a total value of $2,115,774.46. Following the completion of the sale, the chief executive officer owned 12,366 shares of the company’s stock, valued at approximately $9,040,658.94. The trade was a 18.96% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 9,108 shares of company stock valued at $6,929,276. 0.27% of the stock is currently owned by corporate insiders.

Equinix Trading Up 0.7%

Shares of NASDAQ:EQIX opened at $732.72 on Thursday. The stock’s 50-day simple moving average is $795.15 and its two-hundred day simple moving average is $806.62. The stock has a market capitalization of $71.95 billion, a price-to-earnings ratio of 67.10, a PEG ratio of 1.49 and a beta of 1.05. Equinix, Inc. has a 52-week low of $701.41 and a 52-week high of $989.84. The company has a debt-to-equity ratio of 1.32, a quick ratio of 1.62 and a current ratio of 1.62.

Equinix (NASDAQ:EQIX) last released its quarterly earnings results on Wednesday, October 29th. The financial services provider reported $9.83 EPS for the quarter, beating the consensus estimate of $9.27 by $0.56. Equinix had a net margin of 11.82% and a return on equity of 7.70%. The firm had revenue of $2.32 billion during the quarter, compared to analyst estimates of $2.33 billion. During the same quarter in the prior year, the firm earned $9.05 EPS. The business’s revenue for the quarter was up 5.2% compared to the same quarter last year. Equinix has set its FY 2025 guidance at 37.950-38.77 EPS. Analysts expect that Equinix, Inc. will post 33.1 EPS for the current year.

Equinix Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 17th. Shareholders of record on Wednesday, November 19th will be issued a dividend of $4.69 per share. This represents a $18.76 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend is Wednesday, November 19th. Equinix’s dividend payout ratio is currently 171.79%.

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.