Meeder Advisory Services Inc. Invests $2.08 Million in Equinix, Inc. $EQIX

Meeder Advisory Services Inc. acquired a new stake in Equinix, Inc. (NASDAQ:EQIX) in the second quarter, Holdings Channel.com reports. The firm acquired 1,999 shares of the financial services provider’s stock, valued at approximately $2,084,000.

Several other hedge funds also recently bought and sold shares of EQIX. Elevation Wealth Partners LLC lifted its stake in Equinix by 166.7% in the 2nd quarter. Elevation Wealth Partners LLC now owns 24 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 15 shares in the last quarter. Avion Wealth boosted its holdings in Equinix by 73.3% in the 1st quarter. Avion Wealth now owns 26 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 11 shares during the period. Physician Wealth Advisors Inc. grew its position in shares of Equinix by 266.7% during the 1st quarter. Physician Wealth Advisors Inc. now owns 33 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 24 shares in the last quarter. Trust Co. of Vermont bought a new position in shares of Equinix in the second quarter worth $34,000. Finally, Kemnay Advisory Services Inc. bought a new position in shares of Equinix in the fourth quarter worth $30,000. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Wall Street Analysts Forecast Growth

EQIX has been the subject of several research analyst reports. JPMorgan Chase & Co. lifted their price objective on Equinix from $1,100.00 to $1,200.00 and gave the company an “overweight” rating in a research note on Thursday, April 30th. The Goldman Sachs Group upped their target price on Equinix from $894.00 to $1,015.00 and gave the stock a “neutral” rating in a research note on Thursday, April 30th. Mizuho lifted their price target on Equinix from $1,165.00 to $1,200.00 and gave the company an “outperform” rating in a research report on Thursday, May 7th. Evercore reissued an “outperform” rating and set a $1,270.00 price objective on shares of Equinix in a report on Tuesday. Finally, Jefferies Financial Group restated a “buy” rating and issued a $1,340.00 price objective on shares of Equinix in a research report on Thursday, July 30th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, Equinix currently has a consensus rating of “Moderate Buy” and an average price target of $1,203.40.

Insider Activity

In other Equinix news, EVP Raouf Abdel sold 2,040 shares of the stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $1,083.47, for a total transaction of $2,210,278.80. Following the transaction, the executive vice president directly owned 5,728 shares in the company, valued at $6,206,116.16. This trade represents a 26.26% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Brandi Galvin Morandi sold 3,726 shares of Equinix stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $1,076.36, for a total transaction of $4,010,517.36. Following the transaction, the insider directly owned 6,132 shares in the company, valued at $6,600,239.52. This trade represents a 37.80% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 9,891 shares of company stock worth $10,435,864. 0.27% of the stock is currently owned by insiders.

Equinix Stock Performance

NASDAQ EQIX opened at $1,085.09 on Wednesday. Equinix, Inc. has a 52-week low of $720.62 and a 52-week high of $1,128.68. The company has a fifty day moving average of $1,050.91 and a 200-day moving average of $1,018.57. The company has a market capitalization of $107.07 billion, a P/E ratio of 69.87, a P/E/G ratio of 1.56 and a beta of 0.99. The company has a debt-to-equity ratio of 1.44, a quick ratio of 1.13 and a current ratio of 1.13.

Equinix (NASDAQ:EQIX) last released its earnings results on Wednesday, July 29th. The financial services provider reported $11.78 EPS for the quarter, beating analysts’ consensus estimates of $4.73 by $7.05. Equinix had a return on equity of 10.76% and a net margin of 15.64%.The business had revenue of $2.62 billion for the quarter, compared to analysts’ expectations of $2.59 billion. During the same quarter in the prior year, the firm earned $9.91 earnings per share. The firm’s revenue was up 16.4% on a year-over-year basis. Equinix has set its FY 2026 guidance at 42.690-43.290 EPS. As a group, equities research analysts predict that Equinix, Inc. will post 38.23 EPS for the current fiscal year.

Equinix Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 16th. Stockholders of record on Wednesday, August 19th will be given a dividend of $5.16 per share. The ex-dividend date is Wednesday, August 19th. This represents a $20.64 annualized dividend and a dividend yield of 1.9%. Equinix’s dividend payout ratio is 132.90%.

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.