Cim Investment Management Inc. Has $6.35 Million Holdings in Equinix, Inc. $EQIX

Cim Investment Management Inc. lifted its stake in Equinix, Inc. (NASDAQ:EQIX) by 99.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,305 shares of the financial services provider’s stock after acquiring an additional 3,647 shares during the period. Equinix makes up 1.2% of Cim Investment Management Inc.’s portfolio, making the stock its 16th largest holding. Cim Investment Management Inc.’s holdings in Equinix were worth $6,351,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the stock. Activest Wealth Management grew its position in Equinix by 121.4% in the 1st 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 last quarter. Westside Investment Management Inc. raised its position in shares of Equinix by 190.9% during the second quarter. Westside Investment Management Inc. now owns 32 shares of the financial services provider’s stock valued at $25,000 after buying an additional 21 shares during the last quarter. Atlantic Union Bankshares Corp bought a new stake in shares of Equinix in the second quarter valued at about $26,000. Bank of Jackson Hole Trust grew its position in Equinix by 70.0% during the second quarter. Bank of Jackson Hole Trust now owns 34 shares of the financial services provider’s stock worth $27,000 after buying an additional 14 shares in the last quarter. Finally, Clal Insurance Enterprises Holdings Ltd bought a new position in Equinix during the second quarter valued at about $28,000. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Equinix Stock Down 0.5%

EQIX opened at $750.32 on Friday. The firm has a market cap of $73.67 billion, a price-to-earnings ratio of 68.71, a PEG ratio of 1.53 and a beta of 1.05. The company has a debt-to-equity ratio of 1.32, a quick ratio of 1.62 and a current ratio of 1.62. The firm’s 50-day simple moving average is $789.62 and its 200-day simple moving average is $800.36. Equinix, Inc. has a twelve month low of $701.41 and a twelve month high of $982.98.

Equinix (NASDAQ:EQIX) last announced its quarterly earnings results on Wednesday, October 29th. The financial services provider reported $9.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $9.27 by $0.56. The firm had revenue of $2.32 billion during 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 firm’s quarterly revenue was up 5.2% on a year-over-year basis. During the same period last year, the firm posted $9.05 EPS. Equinix has set its FY 2025 guidance at 37.950-38.77 EPS. Equities research analysts anticipate that Equinix, Inc. will post 33.1 EPS for the current fiscal year.

Equinix Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 17th. Shareholders of record on Wednesday, November 19th will be given 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 payout ratio is presently 171.79%.

Insider Buying and Selling

In other news, CEO Adaire Fox-Martin sold 2,894 shares of the stock in a transaction on Tuesday, December 2nd. The stock was sold at an average price of $731.09, for a total transaction of $2,115,774.46. Following the sale, the chief executive officer owned 12,366 shares in the company, valued at approximately $9,040,658.94. This represents a 18.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jonathan Lin sold 124 shares of the firm’s stock in a transaction 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 completion of the sale, the insider 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 8,704 shares of company stock valued at $6,617,748. Insiders own 0.27% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on EQIX shares. Zacks Research downgraded Equinix from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 19th. Barclays lifted their price target on shares of Equinix from $798.00 to $804.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 20th. BMO Capital Markets upgraded shares of Equinix from a “market perform” rating to an “outperform” rating and set a $900.00 price objective for the company in a research note on Wednesday, December 3rd. JPMorgan Chase & Co. lifted their target price on shares of Equinix from $940.00 to $950.00 and gave the company an “overweight” rating in a research report on Thursday, October 30th. Finally, Cowen reissued a “buy” rating on shares of Equinix in a research report on Thursday, October 30th. Four equities research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, Equinix currently has an average rating of “Moderate Buy” and an average price target of $958.15.

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.