Cerity Partners LLC Buys 2,047 Shares of Equinix, Inc. $EQIX

Cerity Partners LLC raised its stake in shares of Equinix, Inc. (NASDAQ:EQIX) by 14.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 16,026 shares of the financial services provider’s stock after buying an additional 2,047 shares during the period. Cerity Partners LLC’s holdings in Equinix were worth $12,748,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Campbell & CO Investment Adviser LLC boosted its holdings in shares of Equinix by 21.1% in the second quarter. Campbell & CO Investment Adviser LLC now owns 384 shares of the financial services provider’s stock worth $305,000 after buying an additional 67 shares during the last quarter. Elliott Investment Management L.P. purchased a new stake in Equinix in the first quarter worth about $122,302,000. Gradient Investments LLC lifted its position in shares of Equinix by 19.4% during the 2nd quarter. Gradient Investments LLC now owns 24,684 shares of the financial services provider’s stock valued at $19,635,000 after buying an additional 4,015 shares in the last quarter. Partners Group Holding AG grew its stake in shares of Equinix by 10.6% during the 1st quarter. Partners Group Holding AG now owns 51,787 shares of the financial services provider’s stock valued at $42,225,000 after acquiring an additional 4,968 shares during the period. Finally, Focus Partners Wealth increased its stake in shares of Equinix by 19.4% in the first quarter. Focus Partners Wealth now owns 2,573 shares of the financial services provider’s stock worth $2,098,000 after purchasing an additional 418 shares in the last quarter. 94.94% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on EQIX shares. Cowen reaffirmed a “buy” rating on shares of Equinix in a report on Thursday, October 30th. Wall Street Zen raised Equinix from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. Weiss Ratings reissued a “hold (c)” rating on shares of Equinix in a research note on Wednesday, October 8th. Citigroup reissued a “market outperform” rating on shares of Equinix in a report on Tuesday, November 4th. Finally, JPMorgan Chase & Co. upped their target price on shares of Equinix from $940.00 to $950.00 and gave the stock an “overweight” rating in a research report on Thursday, October 30th. Four investment analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $958.15.

Equinix Price Performance

Equinix stock opened at $734.40 on Thursday. Equinix, Inc. has a 52-week low of $701.41 and a 52-week high of $986.50. The company has a quick ratio of 1.62, a current ratio of 1.62 and a debt-to-equity ratio of 1.32. The firm’s fifty day moving average is $790.56 and its 200 day moving average is $802.01. The company has a market cap of $72.11 billion, a price-to-earnings ratio of 67.25, a PEG ratio of 1.51 and a beta of 1.05.

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

Equinix Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 17th. Stockholders of record on Wednesday, November 19th will be paid a $4.69 dividend. This represents a $18.76 annualized dividend and a dividend yield of 2.6%. The ex-dividend date of this dividend is Wednesday, November 19th. Equinix’s dividend payout ratio (DPR) is presently 171.79%.

Insiders Place Their Bets

In related news, insider Kurt Pletcher sold 290 shares of the firm’s stock in a transaction on Tuesday, December 2nd. The stock was sold at an average price of $731.19, for a total value of $212,045.10. Following the completion of the sale, the insider directly owned 2,433 shares in the company, valued at $1,778,985.27. This trade represents a 10.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 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. The trade was a 18.96% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 8,704 shares of company stock worth $6,617,748. 0.27% of the stock is currently owned by company insiders.

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.