Red Cedar Investment Management LLC Lowers Position in Equinix, Inc. $EQIX

Red Cedar Investment Management LLC lessened its stake in shares of Equinix, Inc. (NASDAQ:EQIX) by 60.8% in the third quarter, Holdings Channel reports. The institutional investor owned 764 shares of the financial services provider’s stock after selling 1,184 shares during the period. Red Cedar Investment Management LLC’s holdings in Equinix were worth $598,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Campbell & CO Investment Adviser LLC boosted its holdings in Equinix by 21.1% in the 2nd quarter. Campbell & CO Investment Adviser LLC now owns 384 shares of the financial services provider’s stock worth $305,000 after buying an additional 67 shares during the period. Sumitomo Mitsui Trust Group Inc. grew its holdings in Equinix by 1.4% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 544,462 shares of the financial services provider’s stock valued at $426,444,000 after buying an additional 7,409 shares in the last quarter. Nordea Investment Management AB increased its stake in Equinix by 7.3% in the 3rd quarter. Nordea Investment Management AB now owns 483,483 shares of the financial services provider’s stock worth $376,193,000 after acquiring an additional 32,790 shares during the last quarter. Cbre Investment Management Listed Real Assets LLC raised its stake in shares of Equinix by 13.5% in the second quarter. Cbre Investment Management Listed Real Assets LLC now owns 485,538 shares of the financial services provider’s stock valued at $386,231,000 after acquiring an additional 57,630 shares during the period. Finally, Hudson Bay Capital Management LP raised its holdings in shares of Equinix by 5,346.3% in the second quarter. Hudson Bay Capital Management LP now owns 14,705 shares of the financial services provider’s stock worth $11,697,000 after buying an additional 14,435 shares during the period. 94.94% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Deutsche Bank Aktiengesellschaft set a $915.00 price objective on Equinix in a research note on Tuesday, January 6th. TD Cowen reissued a “buy” rating on shares of Equinix in a research report on Thursday, October 30th. Wall Street Zen lowered shares of Equinix from a “hold” rating to a “sell” rating in a research report on Saturday, January 10th. Zacks Research cut Equinix from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 19th. Finally, The Goldman Sachs Group lowered shares of Equinix from a “buy” rating to a “neutral” rating and set a $795.00 price target for the company. in a research report on Thursday, December 18th. Three investment analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $959.64.

Insider Buying and Selling

In other news, insider Kurt Pletcher sold 596 shares of the company’s stock in a transaction on Friday, January 16th. The shares were sold at an average price of $801.78, for a total transaction of $477,860.88. Following the completion of the sale, the insider owned 3,195 shares of the company’s stock, valued at $2,561,687.10. This represents a 15.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Michael Shane Paladin sold 327 shares of the firm’s stock in a transaction dated Friday, January 16th. The stock was sold at an average price of $804.36, for a total transaction of $263,025.72. Following the completion of the transaction, the insider directly owned 952 shares in the company, valued at approximately $765,750.72. This represents a 25.57% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 19,590 shares of company stock worth $15,366,046 in the last quarter. 0.27% of the stock is owned by insiders.

Equinix Stock Performance

Shares of NASDAQ EQIX opened at $806.35 on Tuesday. The company has a market capitalization of $79.18 billion, a PE ratio of 73.84, a price-to-earnings-growth ratio of 1.24 and a beta of 1.05. The company has a debt-to-equity ratio of 1.32, a quick ratio of 1.62 and a current ratio of 1.62. The company’s fifty day moving average price is $765.42 and its 200 day moving average price is $783.37. Equinix, Inc. has a 1 year low of $701.41 and a 1 year high of $953.41.

Equinix (NASDAQ:EQIX) last posted its earnings results on Wednesday, October 29th. The financial services provider reported $9.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $9.27 by $0.56. Equinix had a net margin of 11.82% and a return on equity of 7.70%. The business had revenue of $2.32 billion for the quarter, compared to analyst estimates of $2.33 billion. During the same period in the prior year, the company posted $9.05 EPS. The company’s revenue for the quarter was up 5.2% on a year-over-year basis. Equinix has set its FY 2025 guidance at 37.950-38.77 EPS. On average, research analysts predict that Equinix, Inc. will post 33.1 earnings per share for the current year.

Equinix Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 17th. Stockholders of record on Wednesday, November 19th were given a $4.69 dividend. The ex-dividend date was Wednesday, November 19th. This represents a $18.76 annualized dividend and a dividend yield of 2.3%. Equinix’s dividend payout ratio (DPR) is 171.79%.

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.