Prudential PLC Cuts Position in Equinix, Inc. $EQIX

Prudential PLC trimmed its holdings in shares of Equinix, Inc. (NASDAQ:EQIX) by 88.2% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 2,998 shares of the financial services provider’s stock after selling 22,466 shares during the quarter. Prudential PLC’s holdings in Equinix were worth $2,297,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in EQIX. Brighton Jones LLC boosted its position in Equinix by 28.9% during the 4th quarter. Brighton Jones LLC now owns 326 shares of the financial services provider’s stock worth $307,000 after purchasing an additional 73 shares during the period. Integrated Wealth Concepts LLC lifted its stake in shares of Equinix by 11.5% during the first quarter. Integrated Wealth Concepts LLC now owns 522 shares of the financial services provider’s stock worth $425,000 after purchasing an additional 54 shares in the last quarter. Empowered Funds LLC lifted its stake in shares of Equinix by 21.8% during the first quarter. Empowered Funds LLC now owns 3,050 shares of the financial services provider’s stock worth $2,487,000 after purchasing an additional 546 shares in the last quarter. Schnieders Capital Management LLC. purchased a new stake in shares of Equinix in the second quarter worth about $231,000. Finally, Brown Advisory Inc. grew its stake in shares of Equinix by 2.8% in the second quarter. Brown Advisory Inc. now owns 1,074 shares of the financial services provider’s stock valued at $854,000 after buying an additional 29 shares in the last quarter. Institutional investors and hedge funds own 94.94% of the company’s stock.

Equinix Stock Performance

Shares of EQIX opened at $1,080.95 on Monday. The company has a market capitalization of $106.60 billion, a P/E ratio of 74.81, a P/E/G ratio of 2.03 and a beta of 0.99. Equinix, Inc. has a one year low of $710.52 and a one year high of $1,128.68. The company has a debt-to-equity ratio of 1.39, a quick ratio of 1.18 and a current ratio of 1.18. The stock has a 50-day moving average price of $1,058.36 and a 200 day moving average price of $914.55.

Equinix (NASDAQ:EQIX) last posted its quarterly earnings data on Wednesday, April 29th. The financial services provider reported $10.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.30 by $6.49. Equinix had a return on equity of 10.03% and a net margin of 15.07%.The company had revenue of $2.44 billion for the quarter, compared to the consensus estimate of $2.52 billion. During the same period in the previous year, the business earned $9.67 EPS. Equinix’s revenue for the quarter was up 9.8% compared to the same quarter last year. Equinix has set its FY 2026 guidance at 42.310-43.110 EPS. Sell-side analysts forecast that Equinix, Inc. will post 37.72 EPS for the current fiscal year.

Equinix Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 17th. Investors of record on Wednesday, May 20th will be paid a $5.16 dividend. This represents a $20.64 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date is Wednesday, May 20th. Equinix’s payout ratio is 142.84%.

Analysts Set New Price Targets

Several equities research analysts recently commented on EQIX shares. Wells Fargo & Company raised their target price on Equinix from $975.00 to $1,200.00 and gave the company an “overweight” rating in a report on Tuesday, April 21st. 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. Zacks Research lowered shares of Equinix from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 15th. Barclays boosted their target price on shares of Equinix from $1,020.00 to $1,109.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 16th. Finally, Oppenheimer restated an “outperform” rating and issued a $1,200.00 target price on shares of Equinix in a research note on Thursday, April 30th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $1,143.60.

Insider Transactions at Equinix

In related news, Chairman Charles J. Meyers sold 5,224 shares of the company’s stock in a transaction on 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 sale, the chairman directly owned 7,370 shares of the company’s stock, valued at $7,998,145.10. This represents a 41.48% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Adaire Fox-Martin sold 1,086 shares of the firm’s stock in a transaction on Thursday, March 12th. The stock was sold at an average price of $966.20, for a total transaction of $1,049,293.20. Following the transaction, the chief executive officer directly owned 19,574 shares of the company’s stock, valued at approximately $18,912,398.80. This represents a 5.26% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 11,053 shares of company stock valued at $11,569,731 over the last ninety days. 0.27% of the stock is currently 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.