Geneos Wealth Management Inc. Purchases 707 Shares of Equinix, Inc. $EQIX

Geneos Wealth Management Inc. boosted its position in Equinix, Inc. (NASDAQ:EQIX) by 17.7% in the 2nd quarter, Holdings Channel reports. The firm owned 4,710 shares of the financial services provider’s stock after buying an additional 707 shares during the quarter. Geneos Wealth Management Inc.’s holdings in Equinix were worth $3,747,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the business. Brighton Jones LLC boosted its holdings in Equinix by 28.9% during the 4th quarter. Brighton Jones LLC now owns 326 shares of the financial services provider’s stock valued at $307,000 after acquiring an additional 73 shares during the period. Kovitz Investment Group Partners LLC lifted its holdings in Equinix by 65.3% during the 1st quarter. Kovitz Investment Group Partners LLC now owns 2,543 shares of the financial services provider’s stock valued at $2,074,000 after buying an additional 1,005 shares in the last quarter. Steward Partners Investment Advisory LLC boosted its position in Equinix by 4.1% in the 1st quarter. Steward Partners Investment Advisory LLC now owns 3,893 shares of the financial services provider’s stock valued at $3,174,000 after buying an additional 155 shares during the period. Corient IA LLC bought a new position in Equinix in the 1st quarter worth about $204,000. Finally, Brooklyn Investment Group increased its position in shares of Equinix by 36.4% during the first quarter. Brooklyn Investment Group now owns 828 shares of the financial services provider’s stock worth $674,000 after acquiring an additional 221 shares during the period. Institutional investors own 94.94% of the company’s stock.

Analysts Set New Price Targets

EQIX has been the subject of a number of research reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Equinix in a report on Wednesday, October 8th. Citigroup reiterated a “buy” rating on shares of Equinix in a report on Thursday. JPMorgan Chase & Co. increased their price target on Equinix from $940.00 to $950.00 and gave the stock an “overweight” rating in a research report on Thursday, October 30th. Wall Street Zen upgraded Equinix from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Finally, Truist Financial upped their price objective on shares of Equinix from $961.00 to $973.00 and gave the stock a “buy” rating in a research note on Tuesday, November 18th. Four investment 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 stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $958.15.

Equinix Trading Up 1.5%

Shares of NASDAQ:EQIX opened at $761.39 on Tuesday. The company has a market capitalization of $74.76 billion, a PE ratio of 69.72, a P/E/G ratio of 1.53 and a beta of 1.05. The company has a current ratio of 1.62, a quick ratio of 1.62 and a debt-to-equity ratio of 1.32. Equinix, Inc. has a 12-month low of $701.41 and a 12-month high of $972.02. The business’s fifty day simple moving average is $789.05 and its 200-day simple moving average is $798.90.

Equinix (NASDAQ:EQIX) last issued its quarterly earnings data on Wednesday, October 29th. The financial services provider reported $9.83 earnings per share for the quarter, beating analysts’ consensus estimates of $9.27 by $0.56. Equinix had a return on equity of 7.70% and a net margin of 11.82%.The company had revenue of $2.32 billion for the quarter, compared to the consensus estimate of $2.33 billion. During the same quarter last year, the company earned $9.05 earnings per share. The firm’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. As a group, equities research analysts predict that Equinix, Inc. will post 33.1 earnings per share for the current fiscal year.

Equinix Dividend Announcement

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

Insider Activity

In other Equinix news, CEO Adaire Fox-Martin sold 2,894 shares of the firm’s stock in a transaction that occurred on Tuesday, December 2nd. The shares were 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 directly owned 12,366 shares in the company, valued at $9,040,658.94. This trade represents a 18.96% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Raouf Abdel sold 159 shares of the company’s stock in a transaction on Tuesday, December 2nd. The stock was sold at an average price of $731.19, for a total value of $116,259.21. Following the transaction, the executive vice president directly owned 6,584 shares in the company, valued at approximately $4,814,154.96. The trade was a 2.36% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 8,704 shares of company stock worth $6,617,748 over the last 90 days. 0.27% of the stock is currently owned by insiders.

Equinix Company 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.