Equinix, Inc. $EQIX Shares Purchased by LGT Fund Management Co Ltd.

LGT Fund Management Co Ltd. lifted its stake in shares of Equinix, Inc. (NASDAQ:EQIX) by 4,811.6% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 13,556 shares of the financial services provider’s stock after buying an additional 13,280 shares during the period. LGT Fund Management Co Ltd.’s holdings in Equinix were worth $13,288,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Douglas Lane & Associates LLC raised its stake in shares of Equinix by 3.9% during the 4th quarter. Douglas Lane & Associates LLC now owns 112,030 shares of the financial services provider’s stock valued at $85,833,000 after buying an additional 4,241 shares during the last quarter. Vanderbilt University lifted its holdings in Equinix by 65.9% in the fourth quarter. Vanderbilt University now owns 10,298 shares of the financial services provider’s stock valued at $7,890,000 after acquiring an additional 4,089 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in Equinix by 6.3% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 52,265 shares of the financial services provider’s stock worth $40,043,000 after purchasing an additional 3,108 shares in the last quarter. Perigon Wealth Management LLC boosted its position in Equinix by 141.1% in the 4th quarter. Perigon Wealth Management LLC now owns 3,178 shares of the financial services provider’s stock worth $2,435,000 after purchasing an additional 1,860 shares in the last quarter. Finally, Generali Investments CEE investicni spolecnost a.s. grew its stake in shares of Equinix by 305.7% during the 4th quarter. Generali Investments CEE investicni spolecnost a.s. now owns 11,766 shares of the financial services provider’s stock worth $9,015,000 after purchasing an additional 8,866 shares during the period. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on EQIX. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $1,207.00 target price on shares of Equinix in a research note on Tuesday, May 5th. TD Cowen increased their target price on shares of Equinix from $1,123.00 to $1,143.00 and gave the stock a “buy” rating in a research note on Thursday, April 30th. HSBC lifted their price target on Equinix from $1,100.00 to $1,250.00 and gave the company a “buy” rating in a research note on Monday, April 27th. BTIG Research initiated coverage on Equinix in a report on Friday. They issued a “buy” rating and a $1,210.00 price target for the company. Finally, Citigroup increased their price target on Equinix from $1,240.00 to $1,260.00 and gave the stock a “buy” rating in a research report on Monday, June 29th. Three analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, Equinix presently has an average rating of “Moderate Buy” and a consensus target price of $1,155.64.

Insider Transactions at Equinix

In related news, EVP Raouf Abdel sold 2,040 shares of the stock in a transaction 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 transaction, the executive vice president directly owned 5,728 shares of the company’s stock, valued at approximately $6,206,116.16. This represents a 26.26% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Brandi Galvin Morandi sold 3,726 shares of the company’s stock in a transaction on Monday, June 8th. The stock was sold at an average price of $1,076.36, for a total transaction of $4,010,517.36. Following the sale, the insider directly owned 6,132 shares of the company’s stock, valued at $6,600,239.52. The trade was a 37.80% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 11,115 shares of company stock valued at $12,022,574 over the last ninety days. Company insiders own 0.27% of the company’s stock.

Equinix Price Performance

EQIX traded up $16.34 during midday trading on Friday, hitting $1,051.21. 330,001 shares of the company traded hands, compared to its average volume of 635,703. 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 company has a market capitalization of $103.67 billion, a price-to-earnings ratio of 72.75, a PEG ratio of 1.95 and a beta of 0.98. Equinix, Inc. has a 52-week low of $720.62 and a 52-week high of $1,128.68. The business has a 50 day simple moving average of $1,066.16 and a two-hundred day simple moving average of $967.61.

Equinix (NASDAQ:EQIX) last released its earnings results on Wednesday, April 29th. The financial services provider reported $10.79 EPS for the quarter, topping 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 business had revenue of $2.44 billion during the quarter, compared to analysts’ expectations of $2.52 billion. During the same quarter in the previous year, the company earned $9.67 earnings per share. The company’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. On average, equities analysts forecast that Equinix, Inc. will post 38.26 earnings per share for the current fiscal year.

Equinix Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 17th. Investors of record on Wednesday, May 20th were given a dividend of $5.16 per share. This represents a $20.64 annualized dividend and a dividend yield of 2.0%. The ex-dividend date was Wednesday, May 20th. Equinix’s payout ratio is presently 142.84%.

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.