UNIVEST FINANCIAL Corp Increases Position in Equinix, Inc. $EQIX

UNIVEST FINANCIAL Corp lifted its holdings in shares of Equinix, Inc. (NASDAQ:EQIX) by 15.4% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,094 shares of the financial services provider’s stock after acquiring an additional 815 shares during the quarter. UNIVEST FINANCIAL Corp’s holdings in Equinix were worth $4,773,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Strs Ohio increased its holdings in Equinix by 9.1% during the third quarter. Strs Ohio now owns 138,257 shares of the financial services provider’s stock worth $108,288,000 after buying an additional 11,590 shares during the last quarter. Stock Yards Bank & Trust Co. raised its stake in shares of Equinix by 53.6% during the 3rd quarter. Stock Yards Bank & Trust Co. now owns 22,809 shares of the financial services provider’s stock valued at $17,865,000 after purchasing an additional 7,963 shares during the period. Rakuten Investment Management Inc. purchased a new stake in Equinix during the 3rd quarter worth about $41,268,000. Universal Beteiligungs und Servicegesellschaft mbH grew its holdings in Equinix by 8.5% during the 3rd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 236,992 shares of the financial services provider’s stock valued at $185,622,000 after buying an additional 18,626 shares in the last quarter. Finally, Middleton & Co. Inc. MA increased its holdings in Equinix by 6.7% during the 3rd quarter. Middleton & Co. Inc. MA now owns 12,295 shares of the financial services provider’s stock worth $9,630,000 after acquiring an additional 775 shares during the period. 94.94% of the stock is currently owned by institutional investors.

Equinix Stock Down 0.3%

Shares of EQIX opened at $792.76 on Friday. Equinix, Inc. has a 1 year low of $701.41 and a 1 year high of $953.41. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.62 and a quick ratio of 1.62. The stock has a 50 day simple moving average of $764.71 and a two-hundred day simple moving average of $782.70. The firm has a market cap of $77.84 billion, a P/E ratio of 72.60, a P/E/G ratio of 1.24 and a beta of 1.05.

Equinix (NASDAQ:EQIX) last announced its quarterly earnings data on Wednesday, October 29th. The financial services provider reported $9.83 earnings per share for the quarter, topping analysts’ consensus estimates of $9.27 by $0.56. Equinix had a net margin of 11.82% and a return on equity of 7.70%. The firm had revenue of $2.32 billion during the quarter, compared to analyst estimates of $2.33 billion. During the same period in the previous year, the business posted $9.05 EPS. The business’s quarterly revenue 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, analysts forecast that Equinix, Inc. will post 33.1 earnings per share for the current fiscal year.

Equinix Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 17th. Stockholders of record on Wednesday, November 19th were issued a $4.69 dividend. The ex-dividend date was Wednesday, November 19th. This represents a $18.76 annualized dividend and a dividend yield of 2.4%. Equinix’s payout ratio is currently 171.79%.

Analyst Ratings Changes

A number of research firms have recently commented on EQIX. Barclays restated a “positive” rating and set a $870.00 price target on shares of Equinix in a research report on Tuesday, January 13th. The Goldman Sachs Group cut Equinix from a “buy” rating to a “neutral” rating and set a $795.00 price target on the stock. in a report on Thursday, December 18th. Scotiabank dropped their price target on Equinix from $965.00 to $959.00 and set a “sector outperform” rating for the company in a research report on Wednesday, January 14th. UBS Group set a $959.00 price objective on shares of Equinix in a research report on Wednesday, January 14th. Finally, BMO Capital Markets upgraded shares of Equinix from a “market perform” rating to an “outperform” rating and set a $900.00 target price for the company in a research report on Wednesday, December 3rd. Four research analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, Equinix presently has an average rating of “Moderate Buy” and an average price target of $959.64.

Insider Buying and Selling

In other Equinix news, insider Kurt Pletcher sold 596 shares of the 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 position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Michael Shane Paladin sold 327 shares of the business’s stock in a transaction dated Friday, January 16th. The shares were sold at an average price of $804.36, for a total transaction of $263,025.72. Following the completion of the transaction, the insider owned 952 shares in the company, valued at $765,750.72. The trade was a 25.57% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 19,590 shares of company stock worth $15,366,046 in the last 90 days. 0.27% of the stock is currently owned by company 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.