Sumitomo Mitsui DS Asset Management Company Ltd Buys 2,698 Shares of Equinix, Inc. $EQIX

Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in Equinix, Inc. (NASDAQ:EQIX) by 5.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 49,157 shares of the financial services provider’s stock after acquiring an additional 2,698 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Equinix were worth $38,502,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of EQIX. Westside Investment Management Inc. raised its stake in Equinix by 190.9% in the second quarter. Westside Investment Management Inc. now owns 32 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 21 shares in the last quarter. Atlantic Union Bankshares Corp bought a new position in Equinix in the 2nd quarter valued at about $26,000. Bank of Jackson Hole Trust raised its position in shares of Equinix by 70.0% in the 2nd quarter. Bank of Jackson Hole Trust now owns 34 shares of the financial services provider’s stock valued at $27,000 after buying an additional 14 shares in the last quarter. Abound Wealth Management lifted its holdings in shares of Equinix by 209.1% during the 3rd quarter. Abound Wealth Management now owns 34 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 23 shares during the period. Finally, Clal Insurance Enterprises Holdings Ltd bought a new stake in shares of Equinix during the 2nd quarter worth approximately $28,000. 94.94% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CEO Adaire Fox-Martin sold 2,894 shares of the firm’s stock in a transaction dated Tuesday, December 2nd. The stock was sold at an average price of $731.09, for a total transaction of $2,115,774.46. Following the completion of the transaction, the chief executive officer directly owned 12,366 shares in the company, valued at $9,040,658.94. This trade represents a 18.96% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Christopher B. Paisley sold 50 shares of Equinix stock in a transaction that occurred on Tuesday, November 18th. The stock was sold at an average price of $777.58, for a total value of $38,879.00. Following the completion of the transaction, the director directly owned 17,782 shares in the company, valued at approximately $13,826,927.56. This represents a 0.28% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 8,704 shares of company stock valued at $6,617,748. Corporate insiders own 0.27% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on EQIX shares. Citigroup reiterated a “buy” rating on shares of Equinix in a research note on Thursday, December 11th. Deutsche Bank Aktiengesellschaft set a $915.00 target price on Equinix in a research note on Tuesday. The Goldman Sachs Group downgraded shares of Equinix from a “buy” rating to a “neutral” rating and set a $795.00 price target on the stock. in a research note on Thursday, December 18th. Zacks Research lowered shares of Equinix from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 19th. Finally, BMO Capital Markets raised shares of Equinix from a “market perform” rating to an “outperform” rating and set a $900.00 price objective for the company in a research note on Wednesday, December 3rd. Four analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $952.05.

Equinix Stock Performance

NASDAQ:EQIX opened at $800.35 on Friday. The stock has a market cap of $78.59 billion, a P/E ratio of 73.29, a price-to-earnings-growth ratio of 1.22 and a beta of 1.05. The company has a current ratio of 1.62, a quick ratio of 1.62 and a debt-to-equity ratio of 1.32. The stock’s 50-day moving average is $769.03 and its 200-day moving average is $783.12. 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 EPS for the quarter, topping the consensus estimate of $9.27 by $0.56. The business had revenue of $2.32 billion for the quarter, compared to the consensus estimate of $2.33 billion. Equinix had a net margin of 11.82% and a return on equity of 7.70%. The firm’s revenue was up 5.2% compared to the same quarter last year. During the same period last year, the company earned $9.05 EPS. Equinix has set its FY 2025 guidance at 37.950-38.77 EPS. Equities research analysts anticipate that Equinix, Inc. will post 33.1 earnings per share for the current year.

Equinix Announces Dividend

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

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.