Equinix, Inc. $EQIX Shares Sold by Eastern Bank

Eastern Bank decreased its position in shares of Equinix, Inc. (NASDAQ:EQIX) by 54.1% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 10,030 shares of the financial services provider’s stock after selling 11,844 shares during the quarter. Eastern Bank’s holdings in Equinix were worth $7,856,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Westside Investment Management Inc. increased its position in Equinix by 190.9% during the second quarter. Westside Investment Management Inc. now owns 32 shares of the financial services provider’s stock worth $25,000 after buying an additional 21 shares during the period. Atlantic Union Bankshares Corp purchased a new position in shares of Equinix during the second quarter worth approximately $26,000. Bank of Jackson Hole Trust grew its position in shares of Equinix by 70.0% during the second quarter. Bank of Jackson Hole Trust now owns 34 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 14 shares during the last quarter. Abound Wealth Management increased its holdings in shares of Equinix by 209.1% in the 3rd quarter. Abound Wealth Management now owns 34 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 23 shares during the period. Finally, Clal Insurance Enterprises Holdings Ltd purchased a new stake in Equinix in the 2nd quarter valued at $28,000. 94.94% of the stock is owned by hedge funds and other institutional investors.

Equinix Stock Performance

NASDAQ EQIX opened at $801.31 on Wednesday. The stock has a market capitalization of $78.68 billion, a price-to-earnings ratio of 73.38, a PEG ratio of 1.23 and a beta of 1.05. The business’s 50 day moving average is $767.48 and its two-hundred day moving average is $782.35. Equinix, Inc. has a 12-month low of $701.41 and a 12-month high of $953.41. The company has a current ratio of 1.62, a quick ratio of 1.62 and a debt-to-equity ratio of 1.32.

Equinix (NASDAQ:EQIX) last posted its quarterly earnings results on Wednesday, October 29th. The financial services provider reported $9.83 earnings per share for the quarter, beating 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 return on equity of 7.70% and a net margin of 11.82%.The company’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same period in the previous year, the business earned $9.05 earnings per share. Equinix has set its FY 2025 guidance at 37.950-38.77 EPS. Research analysts expect that Equinix, Inc. will post 33.1 EPS for the current year.

Equinix Announces Dividend

The business also recently declared 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 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date was Wednesday, November 19th. Equinix’s dividend payout ratio (DPR) is currently 171.79%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on EQIX. Cowen reissued a “buy” rating on shares of Equinix in a research report on Thursday, October 30th. Barclays reissued a “positive” rating and set a $870.00 price target on shares of Equinix in a report on Tuesday. JPMorgan Chase & Co. upped their price objective on Equinix from $940.00 to $950.00 and gave the company an “overweight” rating in a research note on Thursday, October 30th. Deutsche Bank Aktiengesellschaft set a $915.00 price objective on Equinix in a research report on Tuesday, January 6th. Finally, The Goldman Sachs Group lowered Equinix from a “buy” rating to a “neutral” rating and set a $795.00 target price on the stock. in a report on Thursday, December 18th. Four equities research analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Equinix currently has an average rating of “Moderate Buy” and an average target price of $955.19.

Insider Transactions at Equinix

In other news, insider Kurt Pletcher sold 290 shares of Equinix stock in a transaction that occurred on Tuesday, December 2nd. The shares were sold at an average price of $731.19, for a total transaction of $212,045.10. Following the completion of the sale, the insider directly owned 2,433 shares in the company, valued at approximately $1,778,985.27. This trade represents a 10.65% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jonathan Lin sold 124 shares of the company’s 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 in the company, valued at approximately $6,068,062.82. This represents a 1.47% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 8,704 shares of company stock valued at $6,617,748. 0.27% of the stock is owned by company insiders.

Equinix Company 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.