Equinix, Inc. $EQIX Shares Sold by Geneos Wealth Management Inc.

Geneos Wealth Management Inc. reduced its holdings in Equinix, Inc. (NASDAQ:EQIX) by 99.3% during the first quarter, HoldingsChannel reports. The institutional investor owned 35 shares of the financial services provider’s stock after selling 5,218 shares during the period. Geneos Wealth Management Inc.’s holdings in Equinix were worth $34,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Norges Bank acquired a new stake in Equinix during the fourth quarter worth about $984,355,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Equinix by 408.1% in the third 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 acquiring an additional 953,001 shares during the period. Cohen & Steers Inc. boosted its stake in Equinix by 23.3% in the fourth quarter. Cohen & Steers Inc. now owns 2,609,011 shares of the financial services provider’s stock valued at $1,998,978,000 after acquiring an additional 493,141 shares during the period. Deutsche Bank AG grew its holdings in shares of Equinix by 30.0% during the fourth quarter. Deutsche Bank AG now owns 1,094,808 shares of the financial services provider’s stock valued at $838,798,000 after purchasing an additional 252,964 shares during the last quarter. Finally, Balyasny Asset Management L.P. grew its holdings in shares of Equinix by 709.3% during the fourth quarter. Balyasny Asset Management L.P. now owns 286,288 shares of the financial services provider’s stock valued at $219,342,000 after purchasing an additional 250,914 shares during the last quarter. 94.94% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on EQIX. Wells Fargo & Company increased their price target on Equinix from $975.00 to $1,200.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 21st. 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. Wall Street Zen upgraded Equinix from a “sell” rating to a “hold” rating in a research note on Saturday, May 2nd. JPMorgan Chase & Co. increased their target price on Equinix from $1,100.00 to $1,200.00 and gave the stock an “overweight” rating in a research report on Thursday, April 30th. Finally, Scotiabank raised their target price 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. Three investment analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $1,153.79.

Equinix Price Performance

Shares of NASDAQ:EQIX opened at $1,033.55 on Friday. The firm’s 50 day moving average is $1,056.35 and its two-hundred day moving average is $985.65. The firm has a market capitalization of $101.93 billion, a P/E ratio of 71.53, a PEG ratio of 1.91 and a beta of 0.98. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 1.39. Equinix, Inc. has a 52 week low of $720.62 and a 52 week high of $1,128.68.

Equinix (NASDAQ:EQIX) last issued its quarterly earnings data on Wednesday, April 29th. The financial services provider reported $10.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.30 by $6.49. Equinix had a return on equity of 10.03% and a net margin of 15.07%.The business had revenue of $2.44 billion during the quarter, compared to the consensus estimate of $2.52 billion. During the same period in the previous year, the firm posted $9.67 earnings per share. The business’s 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 anticipate that Equinix, Inc. will post 38.25 earnings per share for the current year.

Equinix Dividend Announcement

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 dividend of $5.16 per share. The ex-dividend date of this dividend was Wednesday, May 20th. This represents a $20.64 annualized dividend and a yield of 2.0%. Equinix’s payout ratio is presently 142.84%.

Insiders Place Their Bets

In other news, Chairman Charles J. Meyers sold 5,224 shares of the firm’s stock in a transaction on 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 transaction, the chairman directly owned 7,370 shares of the company’s stock, valued at approximately $7,998,145.10. This trade represents a 41.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Brandi Galvin Morandi sold 3,726 shares of Equinix stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $1,076.36, for a total transaction of $4,010,517.36. Following the sale, the insider owned 6,132 shares in the company, valued at approximately $6,600,239.52. This represents a 37.80% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 11,115 shares of company stock worth $12,022,574. Insiders own 0.27% of the company’s stock.

Equinix Company Profile

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.