Assetmark Inc. Purchases 596 Shares of Equinix, Inc. $EQIX

Assetmark Inc. raised its position in shares of Equinix, Inc. (NASDAQ:EQIX) by 60.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,582 shares of the financial services provider’s stock after acquiring an additional 596 shares during the period. Assetmark Inc.’s holdings in Equinix were worth $1,551,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Angeles Wealth Management LLC purchased a new position in shares of Equinix in the 1st quarter worth $293,000. B&I Capital AG increased its stake in Equinix by 6.5% during the first quarter. B&I Capital AG now owns 22,860 shares of the financial services provider’s stock worth $22,408,000 after acquiring an additional 1,400 shares during the last quarter. Allspring Global Investments Holdings LLC raised its position in Equinix by 3.6% during the first quarter. Allspring Global Investments Holdings LLC now owns 9,388 shares of the financial services provider’s stock valued at $9,350,000 after purchasing an additional 327 shares during the period. Independent Financial Group LLC bought a new stake in shares of Equinix in the 1st quarter valued at approximately $231,000. Finally, Prosperity Consulting Group LLC boosted its holdings in shares of Equinix by 14.3% in the 1st quarter. Prosperity Consulting Group LLC now owns 704 shares of the financial services provider’s stock worth $690,000 after purchasing an additional 88 shares during the period. 94.94% of the stock is currently owned by institutional investors.

Equinix Trading Up 4.9%

Shares of NASDAQ EQIX opened at $1,084.24 on Friday. Equinix, Inc. has a 1-year low of $720.62 and a 1-year high of $1,128.68. The business has a fifty day moving average price of $1,056.85 and a 200 day moving average price of $986.34. The stock has a market capitalization of $106.93 billion, a P/E ratio of 75.03, a price-to-earnings-growth ratio of 1.92 and a beta of 0.98. 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 (NASDAQ:EQIX) last posted its earnings results on Wednesday, April 29th. The financial services provider reported $10.79 EPS for the quarter, beating analysts’ consensus estimates of $4.30 by $6.49. Equinix had a net margin of 15.07% and a return on equity of 10.03%. The company had revenue of $2.44 billion during the quarter, compared to analysts’ expectations of $2.52 billion. During the same quarter in the prior year, the company posted $9.67 earnings per share. Equinix’s revenue for the quarter was up 9.8% compared to the same quarter last year. Equinix has set its FY 2026 guidance at 42.310-43.110 EPS. Equities research analysts expect that Equinix, Inc. will post 38.25 EPS for the current fiscal year.

Equinix Announces Dividend

The company also recently declared 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. This represents a $20.64 annualized dividend and a yield of 1.9%. The ex-dividend date was Wednesday, May 20th. Equinix’s payout ratio is presently 142.84%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on EQIX shares. Zacks Research downgraded Equinix from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 15th. The Goldman Sachs Group lifted their price objective on shares of Equinix from $894.00 to $1,015.00 and gave the stock a “neutral” rating in a research note on Thursday, April 30th. Guggenheim reissued a “buy” rating and issued a $1,235.00 target price on shares of Equinix in a research note on Wednesday, May 20th. Truist Financial set a $1,215.00 target price on shares of Equinix in a report on Friday, May 1st. Finally, JPMorgan Chase & Co. lifted their price target on shares of Equinix from $1,100.00 to $1,200.00 and gave the stock an “overweight” rating in a research note on Thursday, April 30th. Three research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $1,153.79.

Insider Transactions at Equinix

In related news, Director Christopher B. Paisley sold 125 shares of the company’s stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $1,060.29, for a total value of $132,536.25. Following the sale, the director owned 17,557 shares in the company, valued at $18,615,511.53. This represents a 0.71% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Raouf Abdel sold 2,040 shares of the company’s stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $1,083.47, for a total transaction of $2,210,278.80. Following the completion of the sale, the executive vice president directly owned 5,728 shares in the company, valued at $6,206,116.16. This trade represents a 26.26% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 11,115 shares of company stock valued at $12,022,574 over the last three months. Company insiders own 0.27% of the company’s stock.

Equinix 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.