Edgestream Partners L.P. Sells 10,499 Shares of Equinix, Inc. $EQIX

Edgestream Partners L.P. trimmed its position in Equinix, Inc. (NASDAQ:EQIX) by 86.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,644 shares of the financial services provider’s stock after selling 10,499 shares during the quarter. Edgestream Partners L.P.’s holdings in Equinix were worth $1,308,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in EQIX. Activest Wealth Management boosted its holdings in shares of Equinix by 121.4% in the 1st quarter. Activest Wealth Management now owns 31 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 17 shares in the last quarter. Westside Investment Management Inc. boosted 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 buying an additional 21 shares in the last quarter. Atlantic Union Bankshares Corp bought a new position in Equinix in the second quarter valued at about $26,000. Bank of Jackson Hole Trust grew its position in Equinix by 70.0% in the second quarter. Bank of Jackson Hole Trust now owns 34 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 14 shares during the last quarter. Finally, Clal Insurance Enterprises Holdings Ltd acquired a new position in Equinix during the second quarter worth about $28,000. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Equinix

In other news, EVP Raouf Abdel sold 159 shares of the stock in a transaction on Tuesday, December 2nd. The shares were sold at an average price of $731.19, for a total transaction of $116,259.21. Following the completion of the sale, the executive vice president directly owned 6,584 shares in the company, valued at $4,814,154.96. This represents a 2.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Adaire Fox-Martin sold 2,894 shares of Equinix stock in a transaction on 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 transaction, the chief executive officer directly owned 12,366 shares of the company’s stock, valued at $9,040,658.94. This represents a 18.96% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 9,108 shares of company stock worth $6,929,276. Company insiders own 0.27% of the company’s stock.

Equinix Price Performance

Shares of NASDAQ:EQIX opened at $741.58 on Friday. The company has a debt-to-equity ratio of 1.32, a quick ratio of 1.62 and a current ratio of 1.62. Equinix, Inc. has a 52 week low of $701.41 and a 52 week high of $989.84. The firm has a market cap of $72.82 billion, a PE ratio of 67.91, a price-to-earnings-growth ratio of 1.48 and a beta of 1.05. The firm’s fifty day moving average is $793.04 and its 200-day moving average is $805.12.

Equinix (NASDAQ:EQIX) last announced its earnings results on Wednesday, October 29th. The financial services provider reported $9.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $9.27 by $0.56. Equinix had a return on equity of 7.70% and a net margin of 11.82%.The business had revenue of $2.32 billion during the quarter, compared to analyst estimates of $2.33 billion. During the same period last year, the company earned $9.05 EPS. Equinix’s revenue for the quarter was up 5.2% compared to the same quarter last year. Equinix has set its FY 2025 guidance at 37.950-38.77 EPS. Sell-side analysts predict that Equinix, Inc. will post 33.1 earnings per share for the current year.

Equinix Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 17th. Investors of record on Wednesday, November 19th will be issued a $4.69 dividend. The ex-dividend date is Wednesday, November 19th. This represents a $18.76 annualized dividend and a yield of 2.5%. Equinix’s dividend payout ratio is presently 171.79%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Wall Street Zen upgraded shares of Equinix from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. Morgan Stanley assumed coverage on shares of Equinix in a research report on Thursday, October 16th. They issued an “overweight” rating and a $950.00 target price on the stock. Barclays upped their price target on shares of Equinix from $798.00 to $804.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 20th. JPMorgan Chase & Co. raised their price objective on Equinix from $940.00 to $950.00 and gave the company an “overweight” rating in a report on Thursday, October 30th. Finally, Citigroup reaffirmed a “market outperform” rating on shares of Equinix in a report on Tuesday, November 4th. Four equities research 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 stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $961.33.

About Equinix

Equinix (Nasdaq: EQIX) is the world's digital infrastructure company . Digital leaders harness Equinix's trusted platform to bring together and interconnect foundational infrastructure at software speed. Equinix enables organizations to access all the right places, partners and possibilities to scale with agility, speed the launch of digital services, deliver world-class experiences and multiply their value, while supporting their sustainability goals.