Wealth Alliance LLC Sells 624 Shares of Equinix, Inc. $EQIX

Wealth Alliance LLC lowered its position in shares of Equinix, Inc. (NASDAQ:EQIX) by 52.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 562 shares of the financial services provider’s stock after selling 624 shares during the quarter. Wealth Alliance LLC’s holdings in Equinix were worth $551,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. Norges Bank bought a new stake in Equinix in the fourth quarter worth approximately $984,355,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Equinix by 408.1% during the 3rd quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,186,497 shares of the financial services provider’s stock worth $929,312,000 after buying an additional 953,001 shares in the last quarter. Cohen & Steers Inc. grew its position in shares of Equinix by 23.3% during the 4th quarter. Cohen & Steers Inc. now owns 2,609,011 shares of the financial services provider’s stock worth $1,998,978,000 after buying an additional 493,141 shares during the period. Deutsche Bank AG grew its position in shares of Equinix by 30.0% during the 4th quarter. Deutsche Bank AG now owns 1,094,808 shares of the financial services provider’s stock worth $838,798,000 after buying an additional 252,964 shares during the period. Finally, Balyasny Asset Management L.P. increased its stake in shares of Equinix by 709.3% in the 4th quarter. Balyasny Asset Management L.P. now owns 286,288 shares of the financial services provider’s stock valued at $219,342,000 after acquiring an additional 250,914 shares in the last quarter. 94.94% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently weighed in on EQIX shares. Barclays upped their price target on Equinix from $1,109.00 to $1,130.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 1st. Weiss Ratings downgraded Equinix from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday. Wells Fargo & Company upped their target price on Equinix from $975.00 to $1,200.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 21st. Truist Financial set a $1,215.00 target price on Equinix in a report on Friday, May 1st. Finally, JPMorgan Chase & Co. lifted their price target on shares of Equinix from $1,100.00 to $1,200.00 and gave the company an “overweight” rating in a research report on Thursday, April 30th. Three analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $1,153.79.

Equinix Stock Performance

NASDAQ EQIX opened at $1,084.24 on Monday. The company’s 50 day moving average is $1,056.85 and its 200-day moving average is $987.85. Equinix, Inc. has a 12-month low of $720.62 and a 12-month high of $1,128.68. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 1.39. The firm has a market cap of $106.93 billion, a P/E ratio of 75.03, a price-to-earnings-growth ratio of 2.01 and a beta of 0.98.

Equinix (NASDAQ:EQIX) last released its quarterly earnings data on Wednesday, April 29th. The financial services provider reported $10.79 EPS for the quarter, beating analysts’ consensus estimates of $4.30 by $6.49. The company had revenue of $2.44 billion during the quarter, compared to analyst estimates of $2.52 billion. Equinix had a net margin of 15.07% and a return on equity of 10.03%. Equinix’s revenue was up 9.8% compared to the same quarter last year. During the same period last year, the business earned $9.67 earnings per share. Equinix has set its FY 2026 guidance at 42.310-43.110 EPS. Sell-side analysts predict that Equinix, Inc. will post 38.25 earnings per share for the current year.

Equinix Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 17th. Shareholders of record on Wednesday, May 20th were paid a $5.16 dividend. The ex-dividend date of this dividend was Wednesday, May 20th. This represents a $20.64 annualized dividend and a yield of 1.9%. Equinix’s payout ratio is currently 142.84%.

Insider Buying and Selling at Equinix

In other Equinix news, EVP Raouf Abdel sold 2,040 shares of the company’s stock in a transaction that occurred on Friday, May 22nd. The stock was 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 owned 5,728 shares in the company, valued at approximately $6,206,116.16. This represents a 26.26% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Christopher B. Paisley sold 125 shares of Equinix 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 transaction, the director directly owned 17,557 shares of the company’s stock, valued at approximately $18,615,511.53. This trade represents a 0.71% 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. In the last ninety days, insiders have sold 11,115 shares of company stock valued at $12,022,574. Corporate insiders own 0.27% of the company’s stock.

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.