Exchange Traded Concepts LLC Has $3.67 Million Stock Position in Equinix, Inc. $EQIX

Exchange Traded Concepts LLC lifted its stake in shares of Equinix, Inc. (NASDAQ:EQIX) by 311.7% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,681 shares of the financial services provider’s stock after purchasing an additional 3,544 shares during the period. Exchange Traded Concepts LLC’s holdings in Equinix were worth $3,666,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. S.E.E.D. Planning Group LLC lifted its stake in Equinix by 29.1% in the third quarter. S.E.E.D. Planning Group LLC now owns 4,186 shares of the financial services provider’s stock valued at $3,279,000 after acquiring an additional 944 shares during the last quarter. Brighton Jones LLC raised its holdings in shares of Equinix by 32.8% in the 3rd quarter. Brighton Jones LLC now owns 753 shares of the financial services provider’s stock valued at $590,000 after purchasing an additional 186 shares during the period. Generali Investments CEE investicni spolecnost a.s. raised its holdings in shares of Equinix by 10.7% in the 3rd quarter. Generali Investments CEE investicni spolecnost a.s. now owns 2,900 shares of the financial services provider’s stock valued at $2,271,000 after purchasing an additional 280 shares during the period. Marion Wealth Management lifted its stake in Equinix by 1.8% in the 3rd quarter. Marion Wealth Management now owns 1,259 shares of the financial services provider’s stock valued at $986,000 after purchasing an additional 22 shares during the last quarter. Finally, Douglas Lane & Associates LLC grew its holdings in Equinix by 15.3% during the third quarter. Douglas Lane & Associates LLC now owns 107,789 shares of the financial services provider’s stock worth $84,425,000 after purchasing an additional 14,264 shares during the period. 94.94% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms have issued reports on EQIX. Morgan Stanley assumed coverage on Equinix in a research note on Thursday, October 16th. They issued an “overweight” rating and a $950.00 price objective on the stock. Citigroup reaffirmed a “buy” rating on shares of Equinix in a report on Thursday, December 11th. Truist Financial lifted their price objective on shares of Equinix from $961.00 to $973.00 and gave the stock a “buy” rating in a research report on Tuesday, November 18th. The Goldman Sachs Group downgraded shares of Equinix from a “buy” rating to a “neutral” rating and set a $795.00 price objective on the stock. in a report on Thursday, December 18th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Equinix in a research note on Wednesday, October 8th. Four analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $953.90.

Insiders Place Their Bets

In related news, CEO Adaire Fox-Martin sold 2,894 shares of the company’s stock in a transaction dated 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 sale, the chief executive officer owned 12,366 shares in the company, valued at $9,040,658.94. This represents a 18.96% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jonathan Lin sold 124 shares of Equinix stock in a transaction that occurred on Tuesday, December 2nd. The stock was sold at an average price of $731.18, for a total value of $90,666.32. Following the completion of the sale, the insider owned 8,299 shares of the company’s stock, valued at approximately $6,068,062.82. The trade was a 1.47% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 8,704 shares of company stock valued at $6,617,748 over the last quarter. Company insiders own 0.27% of the company’s stock.

Equinix Price Performance

Shares of Equinix stock opened at $757.54 on Thursday. 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 stock has a market capitalization of $74.38 billion, a price-to-earnings ratio of 69.37, a price-to-earnings-growth ratio of 1.55 and a beta of 1.05. Equinix, Inc. has a twelve month low of $701.41 and a twelve month high of $964.73. The company has a 50-day simple moving average of $781.82 and a two-hundred day simple moving average of $792.43.

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

Equinix Dividend Announcement

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

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.