Keybank National Association OH Reduces Holdings in Equinix, Inc. $EQIX

Keybank National Association OH decreased its position in shares of Equinix, Inc. (NASDAQ:EQIX) by 39.1% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 2,690 shares of the financial services provider’s stock after selling 1,726 shares during the quarter. Keybank National Association OH’s holdings in Equinix were worth $2,637,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Physician Wealth Advisors Inc. boosted its position in Equinix by 266.7% during the first quarter. Physician Wealth Advisors Inc. now owns 33 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 24 shares during the period. Root Financial Partners LLC raised its position in shares of Equinix by 419.0% in the first quarter. Root Financial Partners LLC now owns 109 shares of the financial services provider’s stock valued at $107,000 after purchasing an additional 88 shares during the period. USS Investment Management Ltd raised its position in shares of Equinix by 4.9% in the first quarter. USS Investment Management Ltd now owns 18,946 shares of the financial services provider’s stock valued at $18,569,000 after purchasing an additional 885 shares during the period. IFM Investors Pty Ltd lifted its stake in shares of Equinix by 2.3% during the 1st quarter. IFM Investors Pty Ltd now owns 39,066 shares of the financial services provider’s stock valued at $38,294,000 after buying an additional 868 shares in the last quarter. Finally, Severin Investments LLC purchased a new stake in shares of Equinix during the 1st quarter valued at approximately $371,000. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Equinix Stock Performance

NASDAQ EQIX opened at $1,002.02 on Monday. The company’s 50 day simple moving average is $1,073.27 and its two-hundred day simple moving average is $959.52. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.18 and a quick ratio of 1.18. Equinix, Inc. has a 1 year low of $720.62 and a 1 year high of $1,128.68. The stock has a market capitalization of $98.82 billion, a PE ratio of 69.34, a P/E/G ratio of 1.86 and a beta of 0.98.

Equinix (NASDAQ:EQIX) last released its quarterly earnings results on Wednesday, April 29th. The financial services provider reported $10.79 earnings per share 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 in the prior year, the firm posted $9.67 earnings per share. The business’s quarterly revenue was up 9.8% on a year-over-year basis. Equinix has set its FY 2026 guidance at 42.310-43.110 EPS. Analysts predict that Equinix, Inc. will post 38.26 earnings per share for the current fiscal year.

Equinix Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 17th. Shareholders of record on Wednesday, May 20th were paid a $5.16 dividend. This represents a $20.64 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date was Wednesday, May 20th. Equinix’s dividend payout ratio is currently 142.84%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Weiss Ratings lowered shares of Equinix from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, June 23rd. Morgan Stanley increased their target price on Equinix from $1,075.00 to $1,250.00 and gave the stock an “overweight” rating in a research report on Monday, April 13th. HSBC raised their price target on Equinix from $1,100.00 to $1,250.00 and gave the stock a “buy” rating in a report on Monday, April 27th. Barclays boosted their price objective on Equinix from $1,109.00 to $1,130.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 1st. Finally, Citigroup raised their target price on Equinix from $1,240.00 to $1,260.00 and gave the stock a “buy” rating in a research note on Monday, June 29th. Three analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $1,153.38.

Insiders Place Their Bets

In other Equinix news, insider Brandi Galvin Morandi sold 3,726 shares of the firm’s stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $1,076.36, for a total value of $4,010,517.36. Following the sale, the insider owned 6,132 shares of the company’s stock, valued at $6,600,239.52. This trade represents a 37.80% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Raouf Abdel sold 2,040 shares of the business’s stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $1,083.47, for a total value of $2,210,278.80. Following the transaction, the executive vice president directly owned 5,728 shares of the company’s stock, valued at $6,206,116.16. The trade was a 26.26% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 11,539 shares of company stock valued at $12,455,054 over the last 90 days. 0.27% of the stock is owned by insiders.

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.