Allstate Corp Has $11.06 Million Stake in Equinix, Inc. $EQIX

Allstate Corp raised its stake in shares of Equinix, Inc. (NASDAQ:EQIX) by 161.1% in the fourth quarter, Holdings Channel.com reports. The firm owned 14,429 shares of the financial services provider’s stock after buying an additional 8,903 shares during the period. Allstate Corp’s holdings in Equinix were worth $11,055,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in EQIX. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Equinix by 408.1% during the 3rd quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,186,497 shares of the financial services provider’s stock valued at $929,312,000 after purchasing an additional 953,001 shares during the last quarter. SG Americas Securities LLC boosted its stake in Equinix by 377,167.4% during the 4th quarter. SG Americas Securities LLC now owns 716,808 shares of the financial services provider’s stock valued at $549,190,000 after purchasing an additional 716,618 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in Equinix by 25.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,875,355 shares of the financial services provider’s stock valued at $2,252,094,000 after purchasing an additional 588,967 shares during the last quarter. Vanguard Group Inc. boosted its stake in Equinix by 1.2% during the 3rd quarter. Vanguard Group Inc. now owns 13,291,679 shares of the financial services provider’s stock valued at $10,410,575,000 after purchasing an additional 162,638 shares during the last quarter. Finally, Woodline Partners LP boosted its stake in Equinix by 1,512.2% during the 3rd quarter. Woodline Partners LP now owns 170,199 shares of the financial services provider’s stock valued at $133,307,000 after purchasing an additional 159,642 shares during the last quarter. Institutional investors and hedge funds own 94.94% of the company’s stock.

Equinix Price Performance

Equinix stock opened at $1,079.79 on Tuesday. Equinix, Inc. has a 52 week low of $710.52 and a 52 week high of $1,128.68. The company’s 50 day moving average price is $1,039.99 and its two-hundred day moving average price is $897.81. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 1.39. The stock has a market cap of $106.49 billion, a P/E ratio of 74.73, a P/E/G ratio of 2.03 and a beta of 1.01.

Equinix (NASDAQ:EQIX) last posted its earnings results on Wednesday, April 29th. The financial services provider reported $10.79 EPS for the quarter, topping the consensus estimate of $4.30 by $6.49. Equinix had a net margin of 15.07% and a return on equity of 10.03%. The firm had revenue of $2.44 billion for the quarter, compared to analysts’ expectations of $2.52 billion. During the same quarter last year, the firm earned $9.67 EPS. The company’s quarterly revenue was up 9.8% compared to the same quarter last year. Equinix has set its FY 2026 guidance at 42.310-43.110 EPS. On average, equities analysts predict that Equinix, Inc. will post 37.72 earnings per share for the current year.

Equinix Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 17th. Shareholders of record on Wednesday, May 20th will be given a dividend of $5.16 per share. The ex-dividend date of this dividend is Wednesday, May 20th. This represents a $20.64 annualized dividend and a dividend yield of 1.9%. Equinix’s dividend payout ratio (DPR) is currently 142.84%.

Wall Street Analysts Forecast Growth

EQIX has been the subject of a number of analyst reports. Scotiabank lifted their price target on Equinix from $1,050.00 to $1,120.00 and gave the company a “sector perform” rating in a research note on Thursday, April 30th. Stifel Nicolaus set a $1,075.00 price target on Equinix in a research note on Thursday, February 12th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $1,207.00 price target on shares of Equinix in a research note on Tuesday, May 5th. BMO Capital Markets lifted their price target on Equinix from $925.00 to $1,050.00 and gave the company an “outperform” rating in a research note on Thursday, February 12th. Finally, Sanford C. Bernstein initiated coverage on Equinix in a research note on Thursday, March 5th. They set an “outperform” rating and a $1,128.00 price target for the company. Three research analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat, Equinix has a consensus rating of “Moderate Buy” and a consensus target price of $1,143.60.

Insider Activity

In other Equinix news, Chairman Charles J. Meyers sold 5,224 shares of Equinix stock in a transaction that occurred on Wednesday, May 6th. The shares were sold at an average price of $1,085.23, for a total transaction of $5,669,241.52. Following the transaction, the chairman owned 7,370 shares of the company’s stock, valued at $7,998,145.10. This trade represents a 41.48% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Raouf Abdel sold 584 shares of Equinix stock in a transaction that occurred on Thursday, March 12th. The stock was sold at an average price of $965.69, for a total transaction of $563,962.96. Following the completion of the sale, the executive vice president directly owned 7,768 shares in the company, valued at $7,501,479.92. This trade represents a 6.99% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 11,729 shares of company stock worth $11,980,800. Corporate insiders own 0.27% of the company’s stock.

About Equinix

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.