Peapack Gladstone Financial Corp Trims Stock Position in Equinix, Inc. $EQIX

Peapack Gladstone Financial Corp lessened its stake in shares of Equinix, Inc. (NASDAQ:EQIX) by 7.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,425 shares of the financial services provider’s stock after selling 896 shares during the quarter. Peapack Gladstone Financial Corp’s holdings in Equinix were worth $8,754,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Ameriflex Group Inc. lifted its position in shares of Equinix by 433.3% during the 3rd quarter. Ameriflex Group Inc. now owns 32 shares of the financial services provider’s stock worth $25,000 after buying an additional 26 shares during the last quarter. Princeton Global Asset Management LLC lifted its position in shares of Equinix by 200.0% during the 4th quarter. Princeton Global Asset Management LLC now owns 42 shares of the financial services provider’s stock worth $32,000 after buying an additional 28 shares during the last quarter. WPG Advisers LLC lifted its position in shares of Equinix by 51.7% during the 4th quarter. WPG Advisers LLC now owns 44 shares of the financial services provider’s stock worth $34,000 after buying an additional 15 shares during the last quarter. Cornerstone Planning Group LLC lifted its position in shares of Equinix by 40.6% during the 3rd quarter. Cornerstone Planning Group LLC now owns 45 shares of the financial services provider’s stock worth $37,000 after buying an additional 13 shares during the last quarter. Finally, Activest Wealth Management raised its position in Equinix by 81.5% in the 4th quarter. Activest Wealth Management now owns 49 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 22 shares during the last quarter. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on EQIX. Raymond James Financial upgraded shares of Equinix from a “market perform” rating to a “strong-buy” rating and set a $1,250.00 price target for the company in a research report on Thursday, April 30th. Oppenheimer reiterated an “outperform” rating and issued a $1,200.00 price target on shares of Equinix in a research report on Thursday, April 30th. Cantor Fitzgerald upped their price target on shares of Equinix from $1,173.00 to $1,186.00 and gave the company an “overweight” rating in a research report on Friday, May 1st. Evercore reiterated an “outperform” rating and issued a $1,240.00 price target on shares of Equinix in a research report on Tuesday, April 28th. Finally, Scotiabank upped their price target on shares of Equinix from $1,050.00 to $1,120.00 and gave the company a “sector perform” rating in a research report on Thursday, April 30th. Three analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $1,143.60.

Insider Transactions at Equinix

In related news, EVP Raouf Abdel sold 2,040 shares of the firm’s stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $1,083.47, for a total value of $2,210,278.80. Following the completion of the sale, the executive vice president owned 5,728 shares in the company, valued at $6,206,116.16. This trade represents a 26.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Christopher B. Paisley sold 125 shares of the firm’s stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $1,060.29, for a total transaction of $132,536.25. Following the completion of the sale, the director owned 17,557 shares of the company’s stock, valued at $18,615,511.53. This trade represents a 0.71% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 13,769 shares of company stock valued at $14,191,079. 0.27% of the stock is owned by company insiders.

Equinix Stock Performance

Shares of EQIX opened at $1,050.77 on Tuesday. 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, Inc. has a 52-week low of $710.52 and a 52-week high of $1,128.68. The company has a 50-day simple moving average of $1,049.12 and a 200-day simple moving average of $906.40. The company has a market capitalization of $103.63 billion, a PE ratio of 72.72, a P/E/G ratio of 2.01 and a beta of 0.99.

Equinix (NASDAQ:EQIX) last announced its quarterly earnings data on Wednesday, April 29th. The financial services provider reported $10.79 EPS for the quarter, beating the consensus estimate of $4.30 by $6.49. Equinix had a net margin of 15.07% and a return on equity of 10.03%. The firm had revenue of $2.44 billion during the quarter, compared to analysts’ expectations of $2.52 billion. During the same quarter last year, the business earned $9.67 earnings per share. The business’s revenue for the quarter was up 9.8% compared to the same quarter last year. Equinix has set its FY 2026 guidance at 42.310-43.110 EPS. Equities research analysts predict that Equinix, Inc. will post 37.72 earnings per share for the current fiscal year.

Equinix Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 17th. Investors of record on Wednesday, May 20th will be paid a $5.16 dividend. The ex-dividend date is Wednesday, May 20th. This represents a $20.64 annualized dividend and a dividend yield of 2.0%. Equinix’s dividend payout ratio (DPR) is 142.84%.

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.