Keybank National Association OH Sells 1,726 Shares of Equinix, Inc. $EQIX

Keybank National Association OH decreased its position in shares of Equinix, Inc. (NASDAQ:EQIX) by 39.1% during the first quarter, HoldingsChannel reports. The firm owned 2,690 shares of the financial services provider’s stock after selling 1,726 shares during the period. Keybank National Association OH’s holdings in Equinix were worth $2,637,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in shares of Equinix by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 13,398,906 shares of the financial services provider’s stock valued at $10,265,706,000 after buying an additional 107,227 shares in the last quarter. Cohen & Steers Inc. boosted its holdings in Equinix by 23.3% during the 4th quarter. Cohen & Steers Inc. now owns 2,609,011 shares of the financial services provider’s stock valued at $1,998,978,000 after acquiring an additional 493,141 shares during the period. Geode Capital Management LLC grew its position in Equinix by 1.0% during the 4th quarter. Geode Capital Management LLC now owns 2,567,830 shares of the financial services provider’s stock worth $1,959,731,000 after acquiring an additional 25,383 shares during the last quarter. Northern Trust Corp grew its position in Equinix by 0.6% during the 4th quarter. Northern Trust Corp now owns 1,500,506 shares of the financial services provider’s stock worth $1,149,628,000 after acquiring an additional 9,614 shares during the last quarter. Finally, Norges Bank purchased a new position in Equinix in the 4th quarter worth approximately $984,355,000. 94.94% of the stock is currently owned by hedge funds and other institutional investors.

Equinix Stock Performance

Shares of EQIX stock opened at $1,002.02 on Monday. The stock has a fifty day moving average of $1,073.27 and a 200 day moving average of $959.52. Equinix, Inc. has a 52 week low of $720.62 and a 52 week high of $1,128.68. The firm has a market capitalization of $98.82 billion, a price-to-earnings ratio of 69.34, a PEG ratio of 1.86 and a beta of 0.98. The company has a quick ratio of 1.18, a current 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 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $2.52 billion. During the same period in the previous year, the firm earned $9.67 EPS. The company’s quarterly 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. As a group, research analysts expect that Equinix, Inc. will post 38.26 earnings per share for the current year.

Equinix Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 17th. Investors of record on Wednesday, May 20th were given a dividend of $5.16 per share. The ex-dividend date was Wednesday, May 20th. This represents a $20.64 annualized dividend and a dividend yield of 2.1%. Equinix’s payout ratio is currently 142.84%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Oppenheimer reissued an “outperform” rating and set a $1,200.00 price objective on shares of Equinix in a research note on Thursday, April 30th. HSBC lifted their target price on shares of Equinix from $1,100.00 to $1,250.00 and gave the stock a “buy” rating in a research note on Monday, April 27th. Weiss Ratings lowered shares of Equinix from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, June 23rd. The Goldman Sachs Group raised their price target on shares of Equinix from $894.00 to $1,015.00 and gave the stock a “neutral” rating in a report on Thursday, April 30th. Finally, Truist Financial set a $1,215.00 target price on Equinix in a research note on Friday, May 1st. Three analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and six have given a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $1,153.38.

Insider Activity at Equinix

In other Equinix news, Director Christopher B. Paisley sold 125 shares of the company’s stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $1,060.29, for a total transaction of $132,536.25. Following the transaction, the director owned 17,557 shares in the company, valued at approximately $18,615,511.53. This represents a 0.71% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Chairman Charles J. Meyers sold 5,224 shares of the stock in a transaction that occurred on 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 directly 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 disclosure for this sale is available in the SEC filing. Insiders sold 11,539 shares of company stock valued at $12,455,054 in the last three months. Corporate insiders own 0.27% of the company’s stock.

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.