Praxis Investment Management Inc. Has $2.28 Million Holdings in Equinix, Inc. $EQIX

Praxis Investment Management Inc. boosted its holdings in shares of Equinix, Inc. (NASDAQ:EQIX) by 67.5% in the fourth quarter, HoldingsChannel reports. The fund owned 2,976 shares of the financial services provider’s stock after buying an additional 1,199 shares during the quarter. Praxis Investment Management Inc.’s holdings in Equinix were worth $2,280,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Ameriflex Group Inc. lifted its holdings in shares of Equinix by 433.3% during the 3rd 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 lifted its holdings in shares of Equinix by 200.0% during the 4th quarter. Princeton Global Asset Management LLC now owns 42 shares of the financial services provider’s stock valued at $32,000 after buying an additional 28 shares during the last quarter. WPG Advisers LLC lifted its holdings in shares of Equinix by 51.7% during the 4th quarter. WPG Advisers LLC now owns 44 shares of the financial services provider’s stock valued at $34,000 after buying an additional 15 shares during the last quarter. Cornerstone Planning Group LLC lifted its holdings in shares of Equinix by 40.6% during the 3rd quarter. Cornerstone Planning Group LLC now owns 45 shares of the financial services provider’s stock valued at $37,000 after buying an additional 13 shares during the last quarter. Finally, Activest Wealth Management lifted its holdings in shares of Equinix by 81.5% during the 4th quarter. Activest Wealth Management now owns 49 shares of the financial services provider’s stock valued at $38,000 after buying an additional 22 shares during the last quarter. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on EQIX. Truist Financial set a $1,215.00 price target on Equinix in a report on Friday, May 1st. Cantor Fitzgerald lifted 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. Scotiabank lifted their price target on Equinix from $1,050.00 to $1,120.00 and gave the company a “sector perform” rating in a report on Thursday, April 30th. Stifel Nicolaus set a $1,075.00 price objective on Equinix in a research note on Thursday, February 12th. Finally, BMO Capital Markets raised their price objective on Equinix from $925.00 to $1,050.00 and gave the company an “outperform” rating in a research note on Thursday, February 12th. Four analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, Equinix presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,131.60.

Equinix Stock Up 1.0%

Shares of EQIX stock opened at $1,088.73 on Thursday. Equinix, Inc. has a 12 month low of $710.52 and a 12 month high of $1,128.68. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 1.39. The firm has a market cap of $107.37 billion, a PE ratio of 75.34, a price-to-earnings-growth ratio of 2.07 and a beta of 1.01. The stock has a 50 day moving average of $1,010.82 and a 200-day moving average of $875.44.

Equinix (NASDAQ:EQIX) last announced its earnings results on Wednesday, April 29th. The financial services provider reported $10.79 earnings per share (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 for the quarter, compared to analyst estimates of $2.52 billion. During the same quarter in the previous year, the firm posted $9.67 earnings per share. Equinix’s revenue was up 9.8% compared to the same quarter last year. Equinix has set its FY 2026 guidance at 42.310-43.110 EPS. On average, equities analysts predict that Equinix, Inc. will post 37.72 EPS for the current year.

Equinix Announces Dividend

The business also recently announced 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. The ex-dividend date of this dividend is Wednesday, May 20th. This represents a $20.64 dividend on an annualized basis and a yield of 1.9%. Equinix’s payout ratio is 142.84%.

Insider Buying and Selling at Equinix

In related news, insider Jonathan Lin sold 635 shares of the business’s stock in a transaction on Thursday, March 12th. The shares were sold at an average price of $965.71, for a total transaction of $613,225.85. Following the transaction, the insider owned 10,788 shares of the company’s stock, valued at approximately $10,418,079.48. The trade was a 5.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Chairman Charles J. Meyers sold 2,716 shares of the business’s stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $965.15, for a total transaction of $2,621,347.40. Following the transaction, the chairman directly owned 12,594 shares in the company, valued at $12,155,099.10. This trade represents a 17.74% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 6,380 shares of company stock valued at $6,179,022 in the last three months. 0.27% of the stock is owned by insiders.

Equinix Company 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.