Public Employees Retirement System of Ohio Sells 21,455 Shares of Equinix, Inc. $EQIX

Public Employees Retirement System of Ohio trimmed its position in shares of Equinix, Inc. (NASDAQ:EQIX) by 12.4% during the first quarter, HoldingsChannel reports. The institutional investor owned 151,901 shares of the financial services provider’s stock after selling 21,455 shares during the period. Equinix accounts for approximately 0.5% of Public Employees Retirement System of Ohio’s portfolio, making the stock its 29th largest holding. Public Employees Retirement System of Ohio’s holdings in Equinix were worth $148,899,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the company. Modern Wealth Management LLC raised its position in shares of Equinix by 9.2% in the 1st quarter. Modern Wealth Management LLC now owns 285 shares of the financial services provider’s stock valued at $284,000 after buying an additional 24 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Equinix by 15.7% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 247,129 shares of the financial services provider’s stock worth $242,246,000 after acquiring an additional 33,587 shares during the period. Bank of Nova Scotia boosted its position in shares of Equinix by 26.4% during the 1st quarter. Bank of Nova Scotia now owns 28,212 shares of the financial services provider’s stock worth $27,655,000 after acquiring an additional 5,901 shares in the last quarter. Sei Investments Co. boosted its position in shares of Equinix by 11.8% during the 1st quarter. Sei Investments Co. now owns 261,732 shares of the financial services provider’s stock worth $256,559,000 after acquiring an additional 27,529 shares in the last quarter. Finally, Lido Advisors LLC increased its stake in Equinix by 66.0% in the first quarter. Lido Advisors LLC now owns 18,936 shares of the financial services provider’s stock valued at $18,563,000 after acquiring an additional 7,528 shares during the last quarter. 94.94% of the stock is owned by institutional investors.

Insider Transactions at Equinix

In other Equinix news, Chairman Charles J. Meyers sold 5,224 shares of the company’s stock in a transaction dated 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 completion of the transaction, the chairman owned 7,370 shares of the company’s stock, valued at $7,998,145.10. This represents a 41.48% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Raouf Abdel sold 2,040 shares of the stock in a transaction dated Friday, May 22nd. The shares were 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 owned 5,728 shares of the company’s stock, valued at $6,206,116.16. This represents a 26.26% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 11,115 shares of company stock worth $12,022,574. Insiders own 0.27% of the company’s stock.

Equinix Trading Up 0.5%

Shares of Equinix stock opened at $1,033.55 on Friday. The firm’s 50 day moving average is $1,056.35 and its 200 day moving average is $985.65. The firm has a market capitalization of $101.93 billion, a PE ratio of 71.53, a price-to-earnings-growth ratio of 1.91 and a beta of 0.98. Equinix, Inc. has a 1 year low of $720.62 and a 1 year high of $1,128.68. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 1.39.

Equinix (NASDAQ:EQIX) last issued 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. 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 the consensus estimate of $2.52 billion. During the same quarter in the prior year, the firm earned $9.67 EPS. The firm’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. Equities research analysts forecast that Equinix, Inc. will post 38.25 earnings per share for the current fiscal year.

Equinix Announces Dividend

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

Analyst Upgrades and Downgrades

Several research analysts have commented on EQIX shares. Guggenheim restated a “buy” rating and set a $1,235.00 price objective on shares of Equinix in a research report on Wednesday, May 20th. TD Cowen raised their target price on Equinix from $1,123.00 to $1,143.00 and gave the company a “buy” rating in a report on Thursday, April 30th. Evercore reiterated an “outperform” rating and issued a $1,240.00 price target on shares of Equinix in a research note on Tuesday, April 28th. The Goldman Sachs Group boosted their price target on Equinix from $894.00 to $1,015.00 and gave the stock a “neutral” rating in a report on Thursday, April 30th. Finally, Oppenheimer restated an “outperform” rating and set a $1,200.00 price objective on shares of Equinix in a research report on Thursday, April 30th. Three investment analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $1,153.79.

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.