Equinix, Inc. $EQIX Shares Bought by Resona Asset Management Co. Ltd.

Resona Asset Management Co. Ltd. increased its stake in Equinix, Inc. (NASDAQ:EQIX) by 6.2% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 59,497 shares of the financial services provider’s stock after buying an additional 3,475 shares during the quarter. Resona Asset Management Co. Ltd.’s holdings in Equinix were worth $46,532,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of EQIX. Vanguard Group Inc. raised its position in shares of Equinix by 1.7% during the 2nd quarter. Vanguard Group Inc. now owns 13,129,041 shares of the financial services provider’s stock worth $10,443,758,000 after buying an additional 222,221 shares in the last quarter. Valeo Financial Advisors LLC increased its stake in shares of Equinix by 298,148.6% during the second quarter. Valeo Financial Advisors LLC now owns 8,157,100 shares of the financial services provider’s stock valued at $6,488,728,000 after acquiring an additional 8,154,365 shares during the period. State Street Corp increased its stake in shares of Equinix by 3.7% during the second quarter. State Street Corp now owns 6,249,780 shares of the financial services provider’s stock valued at $4,971,512,000 after acquiring an additional 220,981 shares during the period. Norges Bank bought a new stake in Equinix during the second quarter worth approximately $892,431,000. Finally, Canada Pension Plan Investment Board lifted its position in Equinix by 3.7% in the second quarter. Canada Pension Plan Investment Board now owns 1,102,423 shares of the financial services provider’s stock worth $876,944,000 after purchasing an additional 38,936 shares during the period. Institutional investors own 94.94% of the company’s stock.

Insider Transactions at Equinix

In other Equinix news, EVP Raouf Abdel sold 927 shares of Equinix stock in a transaction that occurred on Friday, January 16th. The shares were sold at an average price of $801.78, for a total transaction of $743,250.06. Following the transaction, the executive vice president directly owned 7,337 shares in the company, valued at approximately $5,882,659.86. The trade was a 11.22% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Keith D. Taylor sold 2,051 shares of the business’s stock in a transaction on Friday, January 16th. The shares were sold at an average price of $804.17, for a total transaction of $1,649,352.67. Following the sale, the chief financial officer directly owned 26,373 shares in the company, valued at approximately $21,208,375.41. This trade represents a 7.22% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 19,590 shares of company stock worth $15,366,046. 0.27% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

EQIX has been the subject of a number of research reports. HSBC set a $1,050.00 price target on Equinix and gave the company a “buy” rating in a research note on Thursday, January 15th. Citigroup reaffirmed a “buy” rating on shares of Equinix in a research note on Thursday, December 11th. Weiss Ratings reiterated a “hold (c)” rating on shares of Equinix in a research report on Thursday. Truist Financial upped their price target on shares of Equinix from $961.00 to $973.00 and gave the company a “buy” rating in a report on Tuesday, November 18th. Finally, Wall Street Zen cut shares of Equinix from a “hold” rating to a “sell” rating in a research note on Saturday, January 10th. Four investment analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $959.64.

Equinix Trading Down 0.2%

NASDAQ:EQIX opened at $791.27 on Friday. The stock has a fifty day simple moving average of $764.83 and a 200 day simple moving average of $782.80. The firm has a market capitalization of $77.69 billion, a price-to-earnings ratio of 72.46, a price-to-earnings-growth ratio of 1.24 and a beta of 1.05. Equinix, Inc. has a 1-year low of $701.41 and a 1-year high of $953.41. The company has a quick ratio of 1.62, a current ratio of 1.62 and a debt-to-equity ratio of 1.32.

Equinix (NASDAQ:EQIX) last posted its quarterly earnings data on Wednesday, October 29th. The financial services provider reported $9.83 EPS for the quarter, beating 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 company had revenue of $2.32 billion during the quarter, compared to analyst estimates of $2.33 billion. During the same period in the prior year, the firm earned $9.05 earnings per share. 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. Sell-side analysts forecast that Equinix, Inc. will post 33.1 earnings per share for the current year.

Equinix Announces Dividend

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

Equinix 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.