Equinix, Inc. $EQIX Shares Bought by Bank of Nova Scotia

Bank of Nova Scotia boosted its position in Equinix, Inc. (NASDAQ:EQIX) by 26.4% in the 1st quarter, Holdings Channel reports. The institutional investor owned 28,212 shares of the financial services provider’s stock after buying an additional 5,901 shares during the period. Bank of Nova Scotia’s holdings in Equinix were worth $27,655,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in EQIX. Brighton Jones LLC raised its holdings in shares of Equinix by 28.9% in the 4th quarter. Brighton Jones LLC now owns 326 shares of the financial services provider’s stock worth $307,000 after purchasing an additional 73 shares in the last quarter. Integrated Wealth Concepts LLC lifted its holdings in shares of Equinix by 11.5% during the first quarter. Integrated Wealth Concepts LLC now owns 522 shares of the financial services provider’s stock worth $425,000 after buying an additional 54 shares during the last quarter. Empowered Funds LLC increased its position in shares of Equinix by 21.8% during the first quarter. Empowered Funds LLC now owns 3,050 shares of the financial services provider’s stock valued at $2,487,000 after purchasing an additional 546 shares during the period. Schnieders Capital Management LLC. bought a new stake in shares of Equinix in the 2nd quarter valued at approximately $231,000. Finally, Brown Advisory Inc. grew its stake in Equinix by 2.8% during the second quarter. Brown Advisory Inc. now owns 1,074 shares of the financial services provider’s stock worth $854,000 after buying an additional 29 shares during the last quarter. Institutional investors own 94.94% of the company’s stock.

Equinix Trading Up 4.9%

NASDAQ:EQIX opened at $1,084.24 on Friday. Equinix, Inc. has a 12 month low of $720.62 and a 12 month high of $1,128.68. The stock has a market capitalization of $106.93 billion, a PE ratio of 75.03, a price-to-earnings-growth ratio of 1.92 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. The firm’s 50 day moving average is $1,056.85 and its 200 day moving average is $986.34.

Equinix (NASDAQ:EQIX) last posted its earnings results on Wednesday, April 29th. The financial services provider reported $10.79 earnings per share for the quarter, topping analysts’ consensus estimates of $4.30 by $6.49. The business had revenue of $2.44 billion for the quarter, compared to analyst estimates of $2.52 billion. Equinix had a net margin of 15.07% and a return on equity of 10.03%. Equinix’s revenue was up 9.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $9.67 EPS. Equinix has set its FY 2026 guidance at 42.310-43.110 EPS. Sell-side analysts expect that Equinix, Inc. will post 38.25 earnings per share for the current year.

Equinix Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 17th. Shareholders of record on Wednesday, May 20th were given a dividend of $5.16 per share. The ex-dividend date of this dividend was Wednesday, May 20th. This represents a $20.64 dividend on an annualized basis and a yield of 1.9%. Equinix’s dividend payout ratio is presently 142.84%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on EQIX. Wall Street Zen raised shares of Equinix from a “sell” rating to a “hold” rating in a research note on Saturday, May 2nd. Evercore reissued an “outperform” rating and set a $1,240.00 price target on shares of Equinix in a research report on Tuesday, April 28th. Oppenheimer reiterated an “outperform” rating and issued a $1,200.00 price target on shares of Equinix in a research note on Thursday, April 30th. Cantor Fitzgerald raised their price target on Equinix from $1,173.00 to $1,186.00 and gave the company an “overweight” rating in a report on Friday, May 1st. Finally, HSBC upped their price objective on shares of Equinix from $1,100.00 to $1,250.00 and gave the stock a “buy” rating in a research report on Monday, April 27th. Three research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $1,153.79.

Insider Activity at Equinix

In other news, Director Christopher B. Paisley sold 125 shares of the firm’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 completion of the transaction, the director owned 17,557 shares in the company, valued at $18,615,511.53. This trade represents a 0.71% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through 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 that occurred on 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 completion of the sale, the executive vice president owned 5,728 shares in the company, 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. Over the last quarter, insiders sold 11,115 shares of company stock worth $12,022,574. 0.27% of the stock is currently owned by company 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.