Investment Management Corp of Ontario Buys 10,590 Shares of Equinix, Inc. $EQIX

Investment Management Corp of Ontario boosted its position in Equinix, Inc. (NASDAQ:EQIX) by 386.4% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 13,331 shares of the financial services provider’s stock after purchasing an additional 10,590 shares during the period. Investment Management Corp of Ontario’s holdings in Equinix were worth $10,604,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. GRS Advisors LLC raised its holdings in shares of Equinix by 71.6% in the 2nd quarter. GRS Advisors LLC now owns 81,072 shares of the financial services provider’s stock worth $64,490,000 after purchasing an additional 33,836 shares during the period. State Street Corp grew its position in shares of Equinix by 3.7% during the 2nd quarter. State Street Corp now owns 6,249,780 shares of the financial services provider’s stock valued at $4,971,512,000 after purchasing an additional 220,981 shares in the last quarter. L2 Asset Management LLC increased its stake in Equinix by 6.6% in the 2nd quarter. L2 Asset Management LLC now owns 438 shares of the financial services provider’s stock worth $348,000 after acquiring an additional 27 shares during the last quarter. Thematics Asset Management grew its stake in Equinix by 1.0% in the 2nd quarter. Thematics Asset Management now owns 35,354 shares of the financial services provider’s stock worth $28,123,000 after buying an additional 341 shares in the last quarter. Finally, WINTON GROUP Ltd bought a new position in Equinix in the second quarter valued at $363,000. 94.94% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. TD Cowen increased their price objective on Equinix from $993.00 to $995.00 and gave the company a “buy” rating in a research note on Thursday, October 30th. Barclays upped their price objective on shares of Equinix from $798.00 to $804.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 20th. JPMorgan Chase & Co. lifted their price target on Equinix from $940.00 to $950.00 and gave the stock an “overweight” rating in a research report on Thursday, October 30th. Citigroup reissued a “market outperform” rating on shares of Equinix in a report on Tuesday, November 4th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Equinix in a report on Wednesday, October 8th. Four analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $961.33.

Insider Buying and Selling at Equinix

In other Equinix news, insider Jonathan Lin sold 124 shares of the company’s stock in a transaction dated Tuesday, December 2nd. The shares were sold at an average price of $731.18, for a total value of $90,666.32. Following the completion of the transaction, the insider owned 8,299 shares in the company, valued at approximately $6,068,062.82. This represents a 1.47% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Adaire Fox-Martin sold 2,894 shares of the stock in a transaction that occurred on Tuesday, December 2nd. The stock was sold at an average price of $731.09, for a total value of $2,115,774.46. Following the transaction, 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. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 8,704 shares of company stock worth $6,617,748 in the last three months. 0.27% of the stock is owned by company insiders.

Equinix Price Performance

EQIX opened at $739.93 on Tuesday. The stock has a market cap of $72.65 billion, a P/E ratio of 67.76, a PEG ratio of 1.51 and a beta of 1.05. Equinix, Inc. has a 52-week low of $701.41 and a 52-week high of $989.84. 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 business has a fifty day moving average of $792.20 and a 200 day moving average of $803.35.

Equinix (NASDAQ:EQIX) last posted its quarterly earnings results on Wednesday, October 29th. The financial services provider reported $9.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $9.27 by $0.56. The business 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 business’s revenue was up 5.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $9.05 EPS. Equinix has set its FY 2025 guidance at 37.950-38.77 EPS. As a group, sell-side analysts anticipate that Equinix, Inc. will post 33.1 EPS for the current year.

Equinix Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 17th. Shareholders of record on Wednesday, November 19th will be issued a $4.69 dividend. This represents a $18.76 annualized dividend and a yield of 2.5%. The ex-dividend date of this dividend is Wednesday, November 19th. Equinix’s dividend payout ratio (DPR) is currently 171.79%.

About Equinix

Equinix (Nasdaq: EQIX) is the world's digital infrastructure company . Digital leaders harness Equinix's trusted platform to bring together and interconnect foundational infrastructure at software speed. Equinix enables organizations to access all the right places, partners and possibilities to scale with agility, speed the launch of digital services, deliver world-class experiences and multiply their value, while supporting their sustainability goals.