23,574 Shares in Equinix, Inc. $EQIX Purchased by Man Group plc

Man Group plc bought a new position in shares of Equinix, Inc. (NASDAQ:EQIX) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 23,574 shares of the financial services provider’s stock, valued at approximately $24,573,000.

A number of other institutional investors have also added to or reduced their stakes in the business. BlackRock Inc. bought a new stake in shares of Equinix in the 2nd quarter valued at about $11,930,074,000. Norges Bank bought a new position in shares of Equinix during the fourth quarter valued at approximately $984,355,000. Legal & General Group Plc bought a new position in shares of Equinix during the second quarter valued at approximately $1,181,260,000. Canada Pension Plan Investment Board purchased a new position in Equinix during the second quarter valued at approximately $1,163,662,000. Finally, Deutsche Bank AG purchased a new position in Equinix during the second quarter valued at approximately $1,118,930,000. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Equinix Price Performance

Shares of EQIX opened at $1,079.61 on Thursday. The company has a 50 day moving average of $1,051.87 and a two-hundred day moving average of $1,029.59. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 1.44. Equinix, Inc. has a twelve month low of $720.62 and a twelve month high of $1,128.68. The company has a market cap of $106.53 billion, a price-to-earnings ratio of 69.52, a price-to-earnings-growth ratio of 1.52 and a beta of 0.99.

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

Equinix Dividend Announcement

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

Insider Activity

In other news, insider Brandi Galvin Morandi sold 3,726 shares of the stock in a transaction on Monday, June 8th. The shares were sold at an average price of $1,076.36, for a total value of $4,010,517.36. Following the sale, the insider owned 6,132 shares in the company, valued at $6,600,239.52. This represents a 37.80% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Christopher B. Paisley sold 125 shares of the stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $1,103.58, for a total value of $137,947.50. Following the sale, the director directly owned 13,734 shares in the company, valued at $15,156,567.72. This represents a 0.90% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 7,986 shares of company stock valued at $8,370,777 in the last ninety days. Insiders own 0.27% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Stifel Nicolaus upped their target price on Equinix from $1,250.00 to $1,265.00 and gave the stock a “buy” rating in a report on Thursday, July 30th. UBS Group lifted their price target on Equinix from $1,210.00 to $1,265.00 and gave the company a “buy” rating in a report on Thursday, July 30th. Royal Bank Of Canada boosted their price target on Equinix from $1,125.00 to $1,225.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 5th. Oppenheimer restated an “outperform” rating and set a $1,200.00 price objective on shares of Equinix in a research note on Thursday, April 30th. Finally, JPMorgan Chase & Co. raised their price objective on Equinix from $1,100.00 to $1,200.00 and gave the company an “overweight” rating in a research report on Thursday, April 30th. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $1,203.40.

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.