PCM Encore LLC Acquires Shares of 681 Equinix, Inc. $EQIX

PCM Encore LLC bought a new stake in shares of Equinix, Inc. (NASDAQ:EQIX) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 681 shares of the financial services provider’s stock, valued at approximately $710,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Trillium Asset Management LLC acquired a new position in shares of Equinix in the second quarter worth about $18,891,000. Altman Advisors Inc. acquired a new stake in Equinix during the 2nd quarter valued at approximately $2,066,000. Vise Technologies Inc. purchased a new stake in Equinix during the 2nd quarter worth approximately $3,842,000. OVERSEA CHINESE BANKING Corp Ltd purchased a new stake in Equinix during the 2nd quarter worth approximately $16,327,000. Finally, E Fund Management Co. Ltd. acquired a new position in shares of Equinix in the 2nd quarter valued at approximately $384,000. 94.94% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

EQIX has been the subject of several research analyst reports. Scotiabank reiterated a “sector perform” rating and set a $1,208.00 target price on shares of Equinix in a research note on Thursday, July 30th. Weiss Ratings upgraded shares of Equinix from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, August 6th. Barclays upped their price target on shares of Equinix from $1,109.00 to $1,130.00 and gave the company an “equal weight” rating in a report on Wednesday, July 1st. TD Cowen increased their price objective on shares of Equinix from $1,143.00 to $1,166.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. Finally, HSBC reissued a “buy” rating and set a $1,400.00 price objective on shares of Equinix in a report on Friday, August 14th. Two investment 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 company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $1,203.40.

Insiders Place Their Bets

In other news, insider Brandi Galvin Morandi sold 3,726 shares of Equinix stock in a transaction dated 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 completion of the transaction, the insider directly owned 6,132 shares of the company’s stock, valued at approximately $6,600,239.52. The trade was a 37.80% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Kurt Pletcher sold 135 shares of the business’s stock in a transaction dated Thursday, August 20th. The shares were sold at an average price of $1,075.50, for a total transaction of $145,192.50. Following the sale, the insider directly owned 4,077 shares of the company’s stock, valued at approximately $4,384,813.50. This represents a 3.21% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 7,986 shares of company stock valued at $8,370,777. Company insiders own 0.27% of the company’s stock.

Equinix Trading Up 0.5%

NASDAQ:EQIX opened at $1,082.61 on Friday. The company has a market cap of $106.82 billion, a PE ratio of 69.71, a P/E/G ratio of 1.53 and a beta of 0.99. The business’s 50 day moving average is $1,052.47 and its two-hundred day moving average is $1,022.18. 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 52 week low of $720.62 and a 52 week high of $1,128.68.

Equinix (NASDAQ:EQIX) last issued its quarterly earnings results on Wednesday, July 29th. The financial services provider reported $11.78 earnings per share for the quarter, beating analysts’ consensus estimates 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 return on equity of 10.76% and a net margin of 15.64%.The business’s quarterly revenue was up 16.4% on a year-over-year basis. During the same period in the previous year, the business earned $9.91 EPS. Equinix has set its FY 2026 guidance at 42.690-43.290 EPS. On average, analysts predict that Equinix, Inc. will post 38.23 EPS for the current year.

Equinix Announces Dividend

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