Praxis Investment Management Inc. Boosts Stake in Equinix, Inc. $EQIX

Praxis Investment Management Inc. grew its position in shares of Equinix, Inc. (NASDAQ:EQIX) by 29.1% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,842 shares of the financial services provider’s stock after buying an additional 866 shares during the quarter. Praxis Investment Management Inc.’s holdings in Equinix were worth $3,766,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. SJS Investment Consulting Inc. increased its position in shares of Equinix by 27.3% during the first quarter. SJS Investment Consulting Inc. now owns 42 shares of the financial services provider’s stock valued at $41,000 after acquiring an additional 9 shares during the last quarter. Blue Trust Inc. boosted its position in Equinix by 1.3% in the first quarter. Blue Trust Inc. now owns 931 shares of the financial services provider’s stock worth $912,000 after purchasing an additional 12 shares during the last quarter. Cary Street Partners Investment Advisory LLC boosted its position in Equinix by 2.7% in the fourth quarter. Cary Street Partners Investment Advisory LLC now owns 498 shares of the financial services provider’s stock worth $382,000 after purchasing an additional 13 shares during the last quarter. IFP Advisors Inc grew its stake in Equinix by 2.2% in the 4th quarter. IFP Advisors Inc now owns 595 shares of the financial services provider’s stock valued at $456,000 after purchasing an additional 13 shares during the period. Finally, UMB Bank n.a. grew its stake in Equinix by 5.9% in the 4th quarter. UMB Bank n.a. now owns 233 shares of the financial services provider’s stock valued at $179,000 after purchasing an additional 13 shares during the period. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on EQIX. Wall Street Zen upgraded Equinix from a “sell” rating to a “hold” rating in a research note on Saturday, May 2nd. Wells Fargo & Company increased their price target on shares of Equinix from $975.00 to $1,200.00 and gave the company an “overweight” rating in a research report on Tuesday, April 21st. Oppenheimer restated an “outperform” rating and set a $1,200.00 price objective on shares of Equinix in a report on Thursday, April 30th. Evercore reaffirmed an “outperform” rating and issued a $1,240.00 price objective on shares of Equinix in a research report on Tuesday, April 28th. Finally, HSBC boosted their target price on shares of Equinix from $1,100.00 to $1,250.00 and gave the company a “buy” rating in a research note on Monday, April 27th. Three analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $1,153.38.

Equinix Stock Performance

Shares of EQIX opened at $1,002.02 on Friday. Equinix, Inc. has a fifty-two week low of $720.62 and a fifty-two week high of $1,128.68. The business has a 50-day moving average of $1,073.27 and a 200 day moving average of $958.14. The firm has a market cap of $98.82 billion, a P/E ratio of 69.34, a price-to-earnings-growth ratio of 1.86 and a beta of 0.98. 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 released its quarterly earnings data on Wednesday, April 29th. The financial services provider reported $10.79 EPS for the quarter, beating the consensus estimate of $4.30 by $6.49. The business had revenue of $2.44 billion for the quarter, compared to the consensus estimate of $2.52 billion. Equinix had a net margin of 15.07% and a return on equity of 10.03%. The company’s revenue was up 9.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $9.67 earnings per share. Equinix has set its FY 2026 guidance at 42.310-43.110 EPS. As a group, research analysts forecast that Equinix, Inc. will post 38.26 EPS for the current year.

Equinix Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 17th. Investors of record on Wednesday, May 20th were paid a dividend of $5.16 per share. This represents a $20.64 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date was Wednesday, May 20th. Equinix’s dividend payout ratio is presently 142.84%.

Insider Buying and Selling at Equinix

In other Equinix news, EVP Raouf Abdel sold 2,040 shares of the business’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 sale, the executive vice president owned 5,728 shares of the company’s stock, valued at $6,206,116.16. The trade was a 26.26% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Chairman Charles J. Meyers sold 5,224 shares of the stock in a transaction on Wednesday, May 6th. The stock was sold at an average price of $1,085.23, for a total value of $5,669,241.52. Following the sale, the chairman owned 7,370 shares in the company, valued at approximately $7,998,145.10. This represents a 41.48% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 11,539 shares of company stock valued at $12,455,054. 0.27% of the stock is owned by corporate 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.