Assetmark Inc. Acquires 596 Shares of Equinix, Inc. $EQIX

Assetmark Inc. lifted its holdings in shares of Equinix, Inc. (NASDAQ:EQIX) by 60.4% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,582 shares of the financial services provider’s stock after acquiring an additional 596 shares during the quarter. Assetmark Inc.’s holdings in Equinix were worth $1,551,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Norges Bank purchased a new stake in Equinix during the 4th quarter worth about $984,355,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Equinix by 408.1% during the third quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,186,497 shares of the financial services provider’s stock worth $929,312,000 after buying an additional 953,001 shares in the last quarter. Cohen & Steers Inc. increased its stake in Equinix by 23.3% in the 4th quarter. Cohen & Steers Inc. now owns 2,609,011 shares of the financial services provider’s stock worth $1,998,978,000 after acquiring an additional 493,141 shares during the last quarter. Deutsche Bank AG increased its stake in Equinix by 30.0% in the 4th quarter. Deutsche Bank AG now owns 1,094,808 shares of the financial services provider’s stock worth $838,798,000 after acquiring an additional 252,964 shares during the last quarter. Finally, Balyasny Asset Management L.P. raised its holdings in shares of Equinix by 709.3% in the 4th quarter. Balyasny Asset Management L.P. now owns 286,288 shares of the financial services provider’s stock valued at $219,342,000 after acquiring an additional 250,914 shares in the last quarter. 94.94% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on EQIX shares. Mizuho lifted their target price on shares of Equinix from $1,165.00 to $1,200.00 and gave the company an “outperform” rating in a research report on Thursday, May 7th. The Goldman Sachs Group increased their price target on shares of Equinix from $894.00 to $1,015.00 and gave the stock a “neutral” rating in a report on Thursday, April 30th. TD Cowen raised their price objective on shares of Equinix from $1,123.00 to $1,143.00 and gave the company a “buy” rating in a research report on Thursday, April 30th. Morgan Stanley raised their price target on Equinix from $1,075.00 to $1,250.00 and gave the company an “overweight” rating in a research report on Monday, April 13th. Finally, Wells Fargo & Company lifted their price target on Equinix from $975.00 to $1,200.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 21st. Three investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,153.79.

Equinix Trading Up 4.9%

NASDAQ:EQIX opened at $1,084.24 on Friday. The firm has a market capitalization of $106.93 billion, a P/E ratio of 75.03, a PEG ratio of 1.92 and a beta of 0.98. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.18 and a quick ratio of 1.18. Equinix, Inc. has a one year low of $720.62 and a one year high of $1,128.68. The company’s 50-day simple moving average is $1,056.85 and its 200 day simple moving average is $986.34.

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

Equinix Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 17th. Investors of record on Wednesday, May 20th were issued a $5.16 dividend. The ex-dividend date of this dividend was Wednesday, May 20th. This represents a $20.64 annualized dividend and a dividend yield of 1.9%. Equinix’s payout ratio is presently 142.84%.

Insider Transactions at Equinix

In related news, Chairman Charles J. Meyers sold 5,224 shares of the company’s stock in a transaction on Wednesday, May 6th. The stock was sold at an average price of $1,085.23, for a total transaction of $5,669,241.52. Following the completion of the sale, the chairman owned 7,370 shares in the company, valued at approximately $7,998,145.10. This represents a 41.48% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Raouf Abdel sold 2,040 shares of the 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 transaction, the executive vice president directly owned 5,728 shares in the company, valued at approximately $6,206,116.16. This represents a 26.26% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 11,115 shares of company stock worth $12,022,574 in the last three months. 0.27% of the stock is owned by insiders.

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.