Tobam Boosts Stake in Equinix, Inc. $EQIX

Tobam lifted its holdings in shares of Equinix, Inc. (NASDAQ:EQIX) by 514.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 565 shares of the financial services provider’s stock after acquiring an additional 473 shares during the quarter. Tobam’s holdings in Equinix were worth $433,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in EQIX. Clearwave Capital LLC bought a new position in shares of Equinix during the 4th quarter valued at approximately $206,000. Wick Capital Partners LLC bought a new stake in shares of Equinix in the fourth quarter valued at approximately $214,000. Groupama Asset Managment boosted its holdings in Equinix by 4.9% in the 4th quarter. Groupama Asset Managment now owns 33,885 shares of the financial services provider’s stock worth $25,961,000 after buying an additional 1,570 shares during the period. Walser Wealth Management Company A Ltd Liability Co purchased a new stake in shares of Equinix during the fourth quarter worth $204,000. Finally, Virtu Financial LLC raised its stake in shares of Equinix by 47.4% during the 4th quarter. Virtu Financial LLC now owns 2,614 shares of the financial services provider’s stock valued at $2,002,000 after purchasing an additional 841 shares during the period. 94.94% of the stock is currently owned by institutional investors.

Insider Activity at Equinix

In other news, insider Brandi Galvin Morandi sold 3,726 shares of the firm’s stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $1,076.36, for a total value of $4,010,517.36. Following the completion of the sale, the insider directly owned 6,132 shares of the company’s stock, valued at approximately $6,600,239.52. This trade represents a 37.80% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Chairman Charles J. Meyers sold 5,224 shares of the stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of $1,085.23, for a total transaction of $5,669,241.52. Following the completion of the transaction, the chairman directly owned 7,370 shares of the company’s stock, valued at approximately $7,998,145.10. The trade was a 41.48% 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 11,539 shares of company stock valued at $12,455,054 over the last quarter. Company insiders own 0.27% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Guggenheim reissued a “buy” rating and issued a $1,235.00 price target on shares of Equinix in a report on Wednesday, May 20th. The Goldman Sachs Group boosted their price objective on Equinix from $894.00 to $1,015.00 and gave the stock a “neutral” rating in a report on Thursday, April 30th. Oppenheimer restated an “outperform” rating and set a $1,200.00 price objective on shares of Equinix in a research report on Thursday, April 30th. Barclays lifted their price target on Equinix from $1,020.00 to $1,109.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 16th. Finally, Mizuho increased their price target on shares of Equinix from $1,165.00 to $1,200.00 and gave the company an “outperform” rating in a research report on Thursday, May 7th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Equinix has a consensus rating of “Moderate Buy” and an average price target of $1,143.60.

Equinix Price Performance

Shares of NASDAQ EQIX opened at $1,092.19 on Friday. The company has a market cap of $107.71 billion, a price-to-earnings ratio of 75.58, a PEG ratio of 2.03 and a beta of 0.99. Equinix, Inc. has a 52 week low of $710.52 and a 52 week high of $1,128.68. 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 firm’s fifty day moving average is $1,074.03 and its 200 day moving average is $935.26.

Equinix (NASDAQ:EQIX) last released its quarterly earnings data on Wednesday, April 29th. The financial services provider reported $10.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.30 by $6.49. The firm had revenue of $2.44 billion for the quarter, compared to analysts’ expectations of $2.52 billion. Equinix had a net margin of 15.07% and a return on equity of 10.03%. The company’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $9.67 earnings per share. Equinix has set its FY 2026 guidance at 42.310-43.110 EPS. On average, equities research analysts expect that Equinix, Inc. will post 38.26 earnings per share for the current year.

Equinix Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 17th. Investors of record on Wednesday, May 20th were issued a $5.16 dividend. The ex-dividend date was Wednesday, May 20th. This represents a $20.64 annualized dividend and a yield of 1.9%. Equinix’s payout ratio is 142.84%.

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.