OP Asset Management Ltd Purchases Shares of 9,939 Equinix, Inc. $EQIX

OP Asset Management Ltd acquired a new stake in Equinix, Inc. (NASDAQ:EQIX) in the first quarter, HoldingsChannel reports. The fund acquired 9,939 shares of the financial services provider’s stock, valued at approximately $9,743,000.

A number of other institutional investors and hedge funds also recently modified their holdings of EQIX. Ameriflex Group Inc. grew its holdings in Equinix by 433.3% during the third quarter. Ameriflex Group Inc. now owns 32 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 26 shares during the period. Kemnay Advisory Services Inc. acquired a new stake in shares of Equinix in the fourth quarter valued at approximately $30,000. Princeton Global Asset Management LLC lifted its position in shares of Equinix by 200.0% in the fourth quarter. Princeton Global Asset Management LLC now owns 42 shares of the financial services provider’s stock valued at $32,000 after buying an additional 28 shares during the last quarter. WPG Advisers LLC boosted its stake 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 acquiring an additional 15 shares during the period. Finally, Activest Wealth Management boosted its stake in shares of Equinix by 81.5% during the 4th quarter. Activest Wealth Management now owns 49 shares of the financial services provider’s stock worth $38,000 after acquiring an additional 22 shares during the period. 94.94% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on EQIX shares. Cantor Fitzgerald increased their price target on Equinix from $1,173.00 to $1,186.00 and gave the company an “overweight” rating in a research note on Friday, May 1st. Evercore reaffirmed an “outperform” rating and set a $1,240.00 price objective on shares of Equinix in a research report on Tuesday, April 28th. Weiss Ratings lowered shares of Equinix from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday. Morgan Stanley raised their target price on shares of Equinix from $1,075.00 to $1,250.00 and gave the stock an “overweight” rating in a research note on Monday, April 13th. Finally, Zacks Research downgraded shares of Equinix from a “strong-buy” rating to a “hold” rating in a report on Friday, May 15th. Three equities research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, Equinix presently has a consensus rating of “Moderate Buy” and an average price target of $1,151.67.

Insider Buying and Selling at Equinix

In related news, insider Brandi Galvin Morandi sold 3,726 shares of the company’s stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $1,076.36, for a total value of $4,010,517.36. Following the transaction, the insider directly owned 6,132 shares in the company, valued at approximately $6,600,239.52. This represents a 37.80% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Christopher B. Paisley sold 125 shares of Equinix stock in a transaction dated 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 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 SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 11,539 shares of company stock valued at $12,455,054. 0.27% of the stock is currently owned by insiders.

Equinix Price Performance

Shares of NASDAQ EQIX opened at $1,087.61 on Friday. The firm has a market cap of $107.26 billion, a P/E ratio of 75.27, a price-to-earnings-growth ratio of 2.03 and a beta of 0.99. The business’s 50 day moving average is $1,078.80 and its 200-day moving average is $947.16. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 1.39. Equinix, Inc. has a 1-year low of $710.52 and a 1-year high of $1,128.68.

Equinix (NASDAQ:EQIX) last released its quarterly earnings results on Wednesday, April 29th. The financial services provider reported $10.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.30 by $6.49. Equinix had a return on equity of 10.03% and a net margin of 15.07%.The business had revenue of $2.44 billion during the quarter, compared to the consensus estimate of $2.52 billion. During the same period in the previous year, the company posted $9.67 EPS. The firm’s quarterly revenue was up 9.8% on a year-over-year basis. Equinix has set its FY 2026 guidance at 42.310-43.110 EPS. Equities research analysts predict that Equinix, Inc. will post 38.26 earnings per share for the current year.

Equinix Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 17th. Stockholders of record on Wednesday, May 20th were given a $5.16 dividend. This represents a $20.64 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend was Wednesday, May 20th. Equinix’s payout ratio is presently 142.84%.

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.