Cibc World Market Inc. Raises Position in Equinix, Inc. $EQIX

Cibc World Market Inc. lifted its holdings in Equinix, Inc. (NASDAQ:EQIX) by 8.5% in the fourth quarter, Holdings Channel reports. The firm owned 55,123 shares of the financial services provider’s stock after buying an additional 4,315 shares during the period. Cibc World Market Inc.’s holdings in Equinix were worth $42,233,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in EQIX. Ameriflex Group Inc. raised its stake in Equinix by 433.3% in the third quarter. Ameriflex Group Inc. now owns 32 shares of the financial services provider’s stock valued at $25,000 after buying an additional 26 shares during the last quarter. Princeton Global Asset Management LLC grew its stake in shares of Equinix by 200.0% during the fourth quarter. Princeton Global Asset Management LLC now owns 42 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 28 shares during the last quarter. WPG Advisers LLC grew its stake in shares of Equinix by 51.7% during the fourth quarter. WPG Advisers LLC now owns 44 shares of the financial services provider’s stock worth $34,000 after acquiring an additional 15 shares during the last quarter. Cornerstone Planning Group LLC increased its holdings in shares of Equinix by 40.6% during the third quarter. Cornerstone Planning Group LLC now owns 45 shares of the financial services provider’s stock valued at $37,000 after acquiring an additional 13 shares in the last quarter. Finally, Activest Wealth Management raised its position in shares of Equinix by 81.5% in the 4th quarter. Activest Wealth Management now owns 49 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 22 shares during the last quarter. 94.94% of the stock is owned by institutional investors and hedge funds.

Equinix Trading Up 1.1%

Shares of NASDAQ:EQIX opened at $1,089.15 on Friday. Equinix, Inc. has a 12-month low of $710.52 and a 12-month high of $1,128.68. The company has a market capitalization of $107.41 billion, a PE ratio of 75.37, a PEG ratio of 2.03 and a beta of 0.99. The business has a 50 day moving average of $1,056.06 and a two-hundred day moving average of $912.41. 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 (NASDAQ:EQIX) last released its quarterly earnings data on Wednesday, April 29th. The financial services provider reported $10.79 EPS for the quarter, topping the consensus estimate 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 return on equity of 10.03% and a net margin of 15.07%.The business’s quarterly revenue was up 9.8% compared to the same quarter last year. 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. As a group, analysts forecast that Equinix, Inc. will post 37.72 EPS for the current year.

Equinix Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 17th. Investors of record on Wednesday, May 20th will be given a dividend of $5.16 per share. This represents a $20.64 annualized dividend and a yield of 1.9%. The ex-dividend date is Wednesday, May 20th. Equinix’s dividend payout ratio (DPR) is currently 142.84%.

Insider Buying and Selling

In other news, EVP Raouf Abdel sold 2,040 shares of the firm’s stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $1,083.47, for a total transaction of $2,210,278.80. Following 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Charles J. Meyers sold 5,224 shares of Equinix stock in a transaction dated Wednesday, May 6th. The shares were sold at an average price of $1,085.23, for a total value of $5,669,241.52. Following the completion of the transaction, the chairman owned 7,370 shares of the company’s stock, valued at approximately $7,998,145.10. This represents a 41.48% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 11,053 shares of company stock valued at $11,569,731 in the last ninety days. Company insiders own 0.27% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on EQIX. Weiss Ratings upgraded shares of Equinix from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, May 7th. Cantor Fitzgerald upped their price target on shares of Equinix from $1,173.00 to $1,186.00 and gave the company an “overweight” rating in a research note on Friday, May 1st. Wells Fargo & Company raised their price target on shares of Equinix from $975.00 to $1,200.00 and gave the stock an “overweight” rating in a report on Tuesday, April 21st. Wall Street Zen raised shares of Equinix from a “sell” rating to a “hold” rating in a report on Saturday, May 2nd. Finally, Jefferies Financial Group upped their target price on Equinix from $950.00 to $1,000.00 and gave the company a “buy” rating in a research report on Thursday, February 12th. Three research analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, Equinix currently has an average rating of “Moderate Buy” and a consensus price target of $1,143.60.

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.