Congress Asset Management Co. Sells 867 Shares of Equinix, Inc. $EQIX

Congress Asset Management Co. decreased its holdings in Equinix, Inc. (NASDAQ:EQIX) by 21.6% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,147 shares of the financial services provider’s stock after selling 867 shares during the period. Congress Asset Management Co.’s holdings in Equinix were worth $2,465,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in Equinix by 1.7% in the 2nd quarter. Vanguard Group Inc. now owns 13,129,041 shares of the financial services provider’s stock worth $10,443,758,000 after purchasing an additional 222,221 shares in the last quarter. Valeo Financial Advisors LLC raised its position in shares of Equinix by 298,148.6% during the second quarter. Valeo Financial Advisors LLC now owns 8,157,100 shares of the financial services provider’s stock valued at $6,488,728,000 after buying an additional 8,154,365 shares during the last quarter. State Street Corp lifted its holdings in shares of Equinix by 3.7% in the second quarter. State Street Corp now owns 6,249,780 shares of the financial services provider’s stock worth $4,971,512,000 after buying an additional 220,981 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Equinix by 8.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,243,446 shares of the financial services provider’s stock worth $1,013,844,000 after acquiring an additional 95,887 shares during the last quarter. Finally, Norges Bank purchased a new position in Equinix during the second quarter valued at $892,431,000. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Analyst Upgrades and Downgrades

EQIX has been the topic of several research analyst reports. Zacks Research cut shares of Equinix from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 19th. Cowen reaffirmed a “buy” rating on shares of Equinix in a report on Thursday, October 30th. Weiss Ratings reissued a “hold (c)” rating on shares of Equinix in a research note on Wednesday, October 8th. BMO Capital Markets upgraded Equinix from a “market perform” rating to an “outperform” rating and set a $900.00 price target for the company in a report on Wednesday, December 3rd. Finally, Citigroup reaffirmed a “buy” rating on shares of Equinix in a research note on Thursday, December 11th. Four equities research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $953.90.

Equinix Trading Down 0.1%

Shares of NASDAQ EQIX opened at $757.92 on Tuesday. Equinix, Inc. has a 1-year low of $701.41 and a 1-year high of $964.73. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.62 and a quick ratio of 1.62. The business’s 50 day moving average is $784.26 and its two-hundred day moving average is $793.76. The stock has a market capitalization of $74.42 billion, a P/E ratio of 69.41, a PEG ratio of 1.54 and a beta of 1.05.

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

Equinix Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 17th. Stockholders of record on Wednesday, November 19th were issued a $4.69 dividend. This represents a $18.76 annualized dividend and a dividend yield of 2.5%. The ex-dividend date was Wednesday, November 19th. Equinix’s dividend payout ratio (DPR) is 171.79%.

Insider Activity

In related news, Chairman Charles J. Meyers sold 5,087 shares of the company’s stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $778.47, for a total transaction of $3,960,076.89. Following the transaction, the chairman directly owned 10,426 shares in the company, valued at approximately $8,116,328.22. This represents a 32.79% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Raouf Abdel sold 159 shares of the firm’s stock in a transaction dated Tuesday, December 2nd. The stock was 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 of the company’s stock, valued at approximately $4,814,154.96. The trade was a 2.36% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 8,704 shares of company stock worth $6,617,748 in the last 90 days. Company 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.