Ritholtz Wealth Management Purchases 838 Shares of Equinix, Inc. $EQIX

Ritholtz Wealth Management lifted its holdings in shares of Equinix, Inc. (NASDAQ:EQIX) by 116.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,559 shares of the financial services provider’s stock after buying an additional 838 shares during the quarter. Ritholtz Wealth Management’s holdings in Equinix were worth $1,528,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in EQIX. Vanderbilt University grew its position in shares of Equinix by 5.2% during the 1st quarter. Vanderbilt University now owns 10,833 shares of the financial services provider’s stock worth $10,619,000 after buying an additional 535 shares during the period. BTC Capital Management Inc. raised its position in shares of Equinix by 5.4% in the 1st quarter. BTC Capital Management Inc. now owns 1,522 shares of the financial services provider’s stock valued at $1,492,000 after acquiring an additional 78 shares during the period. Blue Trust Inc. raised its position in shares of Equinix by 1.3% in the 1st quarter. Blue Trust Inc. now owns 931 shares of the financial services provider’s stock valued at $912,000 after acquiring an additional 12 shares during the period. Fifth Third Wealth Advisors LLC boosted its stake in Equinix by 17.4% during the 1st quarter. Fifth Third Wealth Advisors LLC now owns 1,006 shares of the financial services provider’s stock worth $986,000 after acquiring an additional 149 shares during the last quarter. Finally, OP Asset Management Ltd bought a new position in Equinix during the 1st quarter worth approximately $9,743,000. 94.94% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Equinix

In related news, Director Christopher B. Paisley sold 125 shares of the business’s stock in a transaction on Monday, May 18th. The stock was sold at an average price of $1,060.29, for a total value of $132,536.25. Following the completion of the sale, the director directly owned 17,557 shares in the company, valued at $18,615,511.53. The trade was a 0.71% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Brandi Galvin Morandi sold 3,726 shares of the stock in a transaction on Monday, June 8th. The stock was sold at an average price of $1,076.36, for a total value of $4,010,517.36. Following the transaction, the insider owned 6,132 shares in the company, valued at $6,600,239.52. The trade was a 37.80% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 11,539 shares of company stock valued at $12,455,054. Company insiders own 0.27% of the company’s stock.

Equinix Trading Up 0.3%

Shares of Equinix stock opened at $1,091.30 on Friday. Equinix, Inc. has a 1 year low of $720.62 and a 1 year high of $1,128.68. The company has a market capitalization of $107.62 billion, a price-to-earnings ratio of 75.52, a P/E/G ratio of 2.03 and a beta of 0.99. The business has a fifty day simple moving average of $1,079.57 and a two-hundred day simple moving average of $948.17. 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 (NASDAQ:EQIX) last released its quarterly earnings results on Wednesday, April 29th. The financial services provider reported $10.79 earnings per share 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 firm earned $9.67 EPS. 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. Research analysts forecast that Equinix, Inc. will post 38.26 EPS for the current year.

Equinix Announces Dividend

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

Analysts Set New Price Targets

Several brokerages have commented on EQIX. Guggenheim reaffirmed a “buy” rating and issued a $1,235.00 target price on shares of Equinix in a research note on Wednesday, May 20th. Oppenheimer reissued an “outperform” rating and set a $1,200.00 price target on shares of Equinix in a research report on Thursday, April 30th. Sanford C. Bernstein started coverage on Equinix in a research note on Thursday, March 5th. They issued an “outperform” rating and a $1,128.00 target price for the company. Evercore reiterated an “outperform” rating and issued a $1,240.00 price target on shares of Equinix in a report on Tuesday, April 28th. Finally, HSBC increased their price objective on Equinix from $1,100.00 to $1,250.00 and gave the stock a “buy” rating in a report on Monday, April 27th. Three research 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 stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $1,151.67.

Equinix 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.