Vestcor Inc Acquires 3,553 Shares of Equinix, Inc. $EQIX

Vestcor Inc raised its stake in Equinix, Inc. (NASDAQ:EQIX) by 22.8% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 19,113 shares of the financial services provider’s stock after acquiring an additional 3,553 shares during the period. Vestcor Inc’s holdings in Equinix were worth $14,644,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the company. Ameriflex Group Inc. grew its stake in Equinix by 433.3% in the third quarter. Ameriflex Group Inc. now owns 32 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 26 shares during the period. Princeton Global Asset Management LLC grew its stake in shares of Equinix by 200.0% in the 4th quarter. Princeton Global Asset Management LLC now owns 42 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 28 shares in the last quarter. WPG Advisers LLC grew its position in Equinix by 51.7% in the 4th quarter. WPG Advisers LLC now owns 44 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 15 shares in the last quarter. Cornerstone Planning Group LLC grew its holdings in shares of Equinix by 40.6% in the third quarter. Cornerstone Planning Group LLC now owns 45 shares of the financial services provider’s stock valued at $37,000 after acquiring an additional 13 shares in the last quarter. Finally, Activest Wealth Management grew its stake in Equinix by 81.5% in the 4th quarter. Activest Wealth Management now owns 49 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 22 shares during the period. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently issued reports on EQIX. Mizuho raised their price target on shares of Equinix from $1,165.00 to $1,200.00 and gave the stock an “outperform” rating in a research note on Thursday, May 7th. Sanford C. Bernstein assumed coverage on Equinix in a research report on Thursday, March 5th. They set an “outperform” rating and a $1,128.00 price target on the stock. Wall Street Zen upgraded Equinix from a “sell” rating to a “hold” rating in a research report on Saturday, May 2nd. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $1,207.00 price target on shares of Equinix in a research note on Tuesday, May 5th. Finally, BMO Capital Markets upped their price objective on Equinix from $925.00 to $1,050.00 and gave the stock an “outperform” rating in a report on Thursday, February 12th. Three research analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $1,143.60.

Insiders Place Their Bets

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 completion of the sale, the director directly owned 17,557 shares in the company, valued at approximately $18,615,511.53. This represents a 0.71% decrease in their ownership of the stock. The transaction 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 firm’s stock in a transaction dated Friday, May 22nd. The stock was 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 in the company, valued at $6,206,116.16. The trade was a 26.26% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 11,053 shares of company stock worth $11,569,731. 0.27% of the stock is currently owned by insiders.

Equinix Stock Performance

Shares of EQIX stock opened at $1,080.95 on Friday. The company has a debt-to-equity ratio of 1.39, a quick ratio of 1.18 and a current ratio of 1.18. Equinix, Inc. has a fifty-two week low of $710.52 and a fifty-two week high of $1,128.68. The stock has a 50 day moving average price of $1,058.36 and a two-hundred day moving average price of $913.59. The company has a market capitalization of $106.60 billion, a P/E ratio of 74.81, a PEG ratio of 2.05 and a beta of 0.99.

Equinix (NASDAQ:EQIX) last issued its earnings results on Wednesday, April 29th. The financial services provider reported $10.79 earnings per share (EPS) for the quarter, topping 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 quarter last year, the business earned $9.67 earnings per share. The business’s revenue was up 9.8% on a year-over-year basis. Equinix has set its FY 2026 guidance at 42.310-43.110 EPS. Analysts expect that Equinix, Inc. will post 37.72 earnings per share for the current year.

Equinix Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 17th. Shareholders of record on Wednesday, May 20th will be issued a $5.16 dividend. This represents a $20.64 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date of this dividend is Wednesday, May 20th. Equinix’s dividend payout ratio (DPR) is 142.84%.

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.