Equinix, Inc. $EQIX Shares Sold by Geneos Wealth Management Inc.

Geneos Wealth Management Inc. lessened its holdings in Equinix, Inc. (NASDAQ:EQIX) by 99.3% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 35 shares of the financial services provider’s stock after selling 5,218 shares during the period. Geneos Wealth Management Inc.’s holdings in Equinix were worth $34,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Brighton Jones LLC lifted its stake in shares of Equinix by 28.9% during the fourth quarter. Brighton Jones LLC now owns 326 shares of the financial services provider’s stock worth $307,000 after purchasing an additional 73 shares in the last quarter. Integrated Wealth Concepts LLC raised its holdings in shares of Equinix by 11.5% during the 1st quarter. Integrated Wealth Concepts LLC now owns 522 shares of the financial services provider’s stock valued at $425,000 after buying an additional 54 shares during the period. Empowered Funds LLC lifted its position in Equinix by 21.8% during the 1st quarter. Empowered Funds LLC now owns 3,050 shares of the financial services provider’s stock worth $2,487,000 after acquiring an additional 546 shares in the last quarter. Schnieders Capital Management LLC. purchased a new position in Equinix in the 2nd quarter worth approximately $231,000. Finally, Brown Advisory Inc. grew its position in Equinix by 2.8% in the second quarter. Brown Advisory Inc. now owns 1,074 shares of the financial services provider’s stock valued at $854,000 after acquiring an additional 29 shares in the last quarter. Institutional investors and hedge funds own 94.94% of the company’s stock.

Equinix Stock Up 0.5%

EQIX stock opened at $1,033.55 on Friday. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 1.39. The firm has a 50 day simple moving average of $1,056.35 and a 200-day simple moving average of $985.65. The company has a market capitalization of $101.93 billion, a P/E ratio of 71.53, a PEG ratio of 1.91 and a beta of 0.98. Equinix, Inc. has a twelve month low of $720.62 and a twelve month high of $1,128.68.

Equinix (NASDAQ:EQIX) last posted its quarterly earnings results on Wednesday, April 29th. The financial services provider reported $10.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.30 by $6.49. Equinix had a net margin of 15.07% and a return on equity of 10.03%. The firm had revenue of $2.44 billion for the quarter, compared to analysts’ expectations of $2.52 billion. During the same period in the prior year, the company posted $9.67 earnings per share. The firm’s quarterly revenue was up 9.8% on a year-over-year basis. Equinix has set its FY 2026 guidance at 42.310-43.110 EPS. On average, equities research analysts predict that Equinix, Inc. will post 38.25 earnings per share for the current fiscal year.

Equinix Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 17th. Stockholders of record on Wednesday, May 20th were paid a $5.16 dividend. This represents a $20.64 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date was Wednesday, May 20th. Equinix’s dividend payout ratio is 142.84%.

Analysts Set New Price Targets

EQIX has been the subject of several analyst reports. Raymond James Financial upgraded shares of Equinix from a “market perform” rating to a “strong-buy” rating and set a $1,250.00 target price for the company in a research note on Thursday, April 30th. Morgan Stanley boosted their price objective on shares of Equinix from $1,075.00 to $1,250.00 and gave the stock an “overweight” rating in a report on Monday, April 13th. Wells Fargo & Company upped their price objective on shares of Equinix from $975.00 to $1,200.00 and gave the company an “overweight” rating in a research report on Tuesday, April 21st. Zacks Research downgraded Equinix from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 15th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $1,207.00 target price on shares of Equinix in a research report on Tuesday, May 5th. Three analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $1,153.79.

Insider Activity at Equinix

In other news, Director Christopher B. Paisley sold 125 shares of the stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $1,060.29, for a total transaction of $132,536.25. Following the transaction, the director owned 17,557 shares of the company’s stock, valued at approximately $18,615,511.53. This trade represents a 0.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Raouf Abdel sold 2,040 shares of the business’s stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $1,083.47, for a total value of $2,210,278.80. Following the completion of the sale, the executive vice president directly owned 5,728 shares of the company’s stock, valued at approximately $6,206,116.16. This represents a 26.26% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 11,115 shares of company stock worth $12,022,574. 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.