NewEdge Wealth LLC Cuts Stake in Equinix, Inc. $EQIX

NewEdge Wealth LLC lessened its stake in shares of Equinix, Inc. (NASDAQ:EQIX) by 48.4% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,546 shares of the financial services provider’s stock after selling 1,451 shares during the period. NewEdge Wealth LLC’s holdings in Equinix were worth $1,515,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of EQIX. Norges Bank purchased a new stake in Equinix during the 4th quarter worth approximately $984,355,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Equinix by 408.1% during 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 worth $929,312,000 after buying an additional 953,001 shares in the last quarter. Cohen & Steers Inc. grew its holdings in shares of Equinix by 23.3% during the fourth quarter. Cohen & Steers Inc. now owns 2,609,011 shares of the financial services provider’s stock worth $1,998,978,000 after buying an additional 493,141 shares in the last quarter. Deutsche Bank AG raised its position in shares of Equinix by 30.0% in 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 buying an additional 252,964 shares during the last quarter. Finally, Balyasny Asset Management L.P. raised its position in shares of Equinix by 709.3% in 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 buying an additional 250,914 shares during the last quarter. 94.94% of the stock is owned by hedge funds and other institutional investors.

Equinix Stock Performance

EQIX opened at $1,084.24 on Monday. Equinix, Inc. has a one year low of $720.62 and a one year high of $1,128.68. The stock has a market capitalization of $106.93 billion, a PE ratio of 75.03, a P/E/G ratio of 2.01 and a beta of 0.98. The business’s 50 day moving average price is $1,056.85 and its 200 day moving average price is $987.85. The company has a debt-to-equity ratio of 1.39, a quick ratio of 1.18 and a current ratio of 1.18.

Equinix (NASDAQ:EQIX) last issued its quarterly earnings data on Wednesday, April 29th. The financial services provider reported $10.79 earnings per share for the quarter, topping the consensus estimate of $4.30 by $6.49. The company had revenue of $2.44 billion during 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 firm’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same period in the prior year, the business posted $9.67 earnings per share. Equinix has set its FY 2026 guidance at 42.310-43.110 EPS. As a group, equities research analysts expect that Equinix, Inc. will post 38.25 EPS for the current year.

Equinix Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 17th. Shareholders of record on Wednesday, May 20th were given a $5.16 dividend. 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%.

Insider Activity at Equinix

In other Equinix news, 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 completion of the sale, the insider directly owned 6,132 shares in the company, valued at $6,600,239.52. This trade represents a 37.80% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Christopher B. Paisley sold 125 shares of the business’s stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $1,060.29, for a total transaction of $132,536.25. Following the completion of the sale, the director directly owned 17,557 shares in the company, valued at $18,615,511.53. This trade represents a 0.71% 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. In the last three months, insiders sold 11,115 shares of company stock worth $12,022,574. 0.27% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on EQIX. Zacks Research lowered shares of Equinix from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 15th. Scotiabank increased their price objective on shares of Equinix from $1,050.00 to $1,120.00 and gave the company a “sector perform” rating in a report 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. Barclays boosted their target price on Equinix from $1,109.00 to $1,130.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 1st. Finally, The Goldman Sachs Group upped their price target on Equinix from $894.00 to $1,015.00 and gave the company a “neutral” rating in a research report on Thursday, April 30th. Three analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $1,153.79.

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.