UNIVEST FINANCIAL Corp Raises Stock Position in Equinix, Inc. $EQIX

UNIVEST FINANCIAL Corp grew its stake in Equinix, Inc. (NASDAQ:EQIX) by 15.4% in the 3rd quarter, Holdings Channel reports. The firm owned 6,094 shares of the financial services provider’s stock after purchasing an additional 815 shares during the period. UNIVEST FINANCIAL Corp’s holdings in Equinix were worth $4,773,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in Equinix by 1.7% in the second quarter. Vanguard Group Inc. now owns 13,129,041 shares of the financial services provider’s stock worth $10,443,758,000 after buying an additional 222,221 shares in the last quarter. Valeo Financial Advisors LLC grew its holdings in shares of Equinix by 298,148.6% during the 2nd quarter. Valeo Financial Advisors LLC now owns 8,157,100 shares of the financial services provider’s stock worth $6,488,728,000 after acquiring an additional 8,154,365 shares during the period. State Street Corp lifted its stake in shares of Equinix by 3.7% in 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 during the period. Norges Bank bought a new stake in shares of Equinix during the second quarter valued at approximately $892,431,000. Finally, Canada Pension Plan Investment Board grew its stake in Equinix by 3.7% in the second quarter. Canada Pension Plan Investment Board now owns 1,102,423 shares of the financial services provider’s stock worth $876,944,000 after purchasing an additional 38,936 shares during the period. Institutional investors own 94.94% of the company’s stock.

Equinix Stock Down 0.3%

EQIX opened at $792.76 on Friday. The company has a debt-to-equity ratio of 1.32, a quick ratio of 1.62 and a current ratio of 1.62. Equinix, Inc. has a fifty-two week low of $701.41 and a fifty-two week high of $953.41. The firm’s fifty day moving average is $764.71 and its 200 day moving average is $782.70. The stock has a market cap of $77.84 billion, a price-to-earnings ratio of 72.60, a price-to-earnings-growth ratio of 1.24 and a beta of 1.05.

Equinix (NASDAQ:EQIX) last posted its quarterly earnings results on Wednesday, October 29th. The financial services provider reported $9.83 EPS for the quarter, topping analysts’ consensus estimates of $9.27 by $0.56. Equinix had a return on equity of 7.70% and a net margin of 11.82%.The company had revenue of $2.32 billion for the quarter, compared to analysts’ expectations of $2.33 billion. During the same period in the previous year, the firm earned $9.05 EPS. The firm’s revenue was up 5.2% compared to the same quarter last year. Equinix has set its FY 2025 guidance at 37.950-38.77 EPS. On average, sell-side analysts forecast that Equinix, Inc. will post 33.1 earnings per share for the current fiscal year.

Equinix Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 17th. Investors of record on Wednesday, November 19th were given a $4.69 dividend. This represents a $18.76 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date was Wednesday, November 19th. Equinix’s payout ratio is currently 171.79%.

Analysts Set New Price Targets

EQIX has been the subject of several recent research reports. TD Cowen reissued a “buy” rating on shares of Equinix in a research report on Thursday, October 30th. Wall Street Zen downgraded Equinix from a “hold” rating to a “sell” rating in a report on Saturday, January 10th. Truist Financial lifted their target price on shares of Equinix from $961.00 to $973.00 and gave the stock a “buy” rating in a research report on Tuesday, November 18th. HSBC set a $1,050.00 price objective on shares of Equinix and gave the stock a “buy” rating in a research note on Thursday, January 15th. Finally, BMO Capital Markets upgraded Equinix from a “market perform” rating to an “outperform” rating and set a $900.00 price objective for the company in a research note on Wednesday, December 3rd. Four research analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $959.64.

Insider Activity

In related news, EVP Raouf Abdel sold 927 shares of the firm’s stock in a transaction on Friday, January 16th. The shares were sold at an average price of $801.78, for a total value of $743,250.06. Following the completion of the transaction, the executive vice president directly owned 7,337 shares of the company’s stock, valued at approximately $5,882,659.86. This trade represents a 11.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Adaire Fox-Martin sold 2,894 shares of the stock in a transaction on Tuesday, December 2nd. The shares were sold at an average price of $731.09, for a total transaction of $2,115,774.46. Following the transaction, the chief executive officer owned 12,366 shares of the company’s stock, valued at $9,040,658.94. This trade represents a 18.96% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 19,590 shares of company stock worth $15,366,046. 0.27% of the stock is owned by corporate insiders.

About Equinix

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.