Edgestream Partners L.P. Sells 10,499 Shares of Equinix, Inc. $EQIX

Edgestream Partners L.P. decreased its stake in shares of Equinix, Inc. (NASDAQ:EQIX) by 86.5% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,644 shares of the financial services provider’s stock after selling 10,499 shares during the quarter. Edgestream Partners L.P.’s holdings in Equinix were worth $1,308,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Activest Wealth Management grew its holdings in Equinix by 121.4% in the first quarter. Activest Wealth Management now owns 31 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 17 shares during the period. Westside Investment Management Inc. boosted its position in shares of Equinix by 190.9% during the 2nd quarter. Westside Investment Management Inc. now owns 32 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 21 shares in the last quarter. Atlantic Union Bankshares Corp acquired a new stake in shares of Equinix in the 2nd quarter valued at about $26,000. Bank of Jackson Hole Trust increased its position in Equinix by 70.0% in the 2nd quarter. Bank of Jackson Hole Trust now owns 34 shares of the financial services provider’s stock valued at $27,000 after buying an additional 14 shares in the last quarter. Finally, Clal Insurance Enterprises Holdings Ltd acquired a new position in Equinix during the 2nd quarter worth approximately $28,000. Institutional investors and hedge funds own 94.94% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Weiss Ratings reissued a “hold (c)” rating on shares of Equinix in a research note on Wednesday, October 8th. Morgan Stanley initiated coverage on Equinix in a report on Thursday, October 16th. They issued an “overweight” rating and a $950.00 target price on the stock. BMO Capital Markets upgraded shares of Equinix from a “market perform” rating to an “outperform” rating and set a $900.00 price target for the company in a research note on Wednesday. JPMorgan Chase & Co. upped their price objective on shares of Equinix from $940.00 to $950.00 and gave the stock an “overweight” rating in a report on Thursday, October 30th. Finally, Zacks Research cut shares of Equinix from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 19th. Four analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, Equinix currently has an average rating of “Moderate Buy” and a consensus target price of $961.33.

Equinix Trading Up 2.1%

NASDAQ EQIX opened at $741.58 on Friday. The company has a current ratio of 1.62, a quick ratio of 1.62 and a debt-to-equity ratio of 1.32. The business has a fifty day simple moving average of $793.04 and a 200 day simple moving average of $805.12. Equinix, Inc. has a 12 month low of $701.41 and a 12 month high of $989.84. The firm has a market capitalization of $72.82 billion, a P/E ratio of 67.91, a PEG ratio of 1.48 and a beta of 1.05.

Equinix (NASDAQ:EQIX) last posted its quarterly earnings data on Wednesday, October 29th. The financial services provider reported $9.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $9.27 by $0.56. The firm had revenue of $2.32 billion for the quarter, compared to the consensus estimate of $2.33 billion. Equinix had a net margin of 11.82% and a return on equity of 7.70%. The business’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $9.05 EPS. Equinix has set its FY 2025 guidance at 37.950-38.77 EPS. On average, analysts predict that Equinix, Inc. will post 33.1 EPS for the current fiscal year.

Equinix Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 17th. Shareholders of record on Wednesday, November 19th will be paid a $4.69 dividend. The ex-dividend date is Wednesday, November 19th. This represents a $18.76 annualized dividend and a yield of 2.5%. Equinix’s dividend payout ratio (DPR) is 171.79%.

Insider Activity

In other news, Chairman Charles J. Meyers sold 5,087 shares of the business’s stock in a transaction that occurred on Monday, November 17th. The stock was sold at an average price of $778.47, for a total value of $3,960,076.89. Following the transaction, the chairman owned 10,426 shares in the company, valued at $8,116,328.22. The trade was a 32.79% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jonathan Lin sold 124 shares of the stock in a transaction that occurred on Tuesday, December 2nd. The shares were sold at an average price of $731.18, for a total value of $90,666.32. Following the sale, the insider directly owned 8,299 shares of the company’s stock, valued at $6,068,062.82. The trade was a 1.47% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 9,108 shares of company stock worth $6,929,276. Corporate insiders own 0.27% of the company’s stock.

About Equinix

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.