LGT Fund Management Co Ltd. Increases Holdings in Equinix, Inc. $EQIX

LGT Fund Management Co Ltd. raised its stake in Equinix, Inc. (NASDAQ:EQIX) by 4,811.6% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 13,556 shares of the financial services provider’s stock after buying an additional 13,280 shares during the quarter. LGT Fund Management Co Ltd.’s holdings in Equinix were worth $13,288,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of EQIX. SJS Investment Consulting Inc. grew its holdings in shares of Equinix by 27.3% in the first quarter. SJS Investment Consulting Inc. now owns 42 shares of the financial services provider’s stock valued at $41,000 after purchasing an additional 9 shares during the period. Blue Trust Inc. lifted its holdings in Equinix by 1.3% in the first quarter. Blue Trust Inc. now owns 931 shares of the financial services provider’s stock valued at $912,000 after acquiring an additional 12 shares during the last quarter. Cary Street Partners Investment Advisory LLC grew its position in Equinix by 2.7% in the fourth quarter. Cary Street Partners Investment Advisory LLC now owns 498 shares of the financial services provider’s stock worth $382,000 after acquiring an additional 13 shares during the period. IFP Advisors Inc grew its position in Equinix by 2.2% in the fourth quarter. IFP Advisors Inc now owns 595 shares of the financial services provider’s stock worth $456,000 after acquiring an additional 13 shares during the period. Finally, UMB Bank n.a. increased its stake in Equinix by 5.9% during the fourth quarter. UMB Bank n.a. now owns 233 shares of the financial services provider’s stock worth $179,000 after acquiring an additional 13 shares during the last quarter. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Equinix Trading Up 1.6%

EQIX traded up $16.34 during mid-day trading on Friday, hitting $1,051.21. 330,001 shares of the stock were exchanged, compared to its average volume of 635,703. The firm’s fifty day moving average is $1,066.16 and its two-hundred day moving average is $967.61. Equinix, Inc. has a 1-year low of $720.62 and a 1-year high of $1,128.68. The company has a market cap of $103.67 billion, a PE ratio of 72.75, a PEG ratio of 1.95 and a beta of 0.98. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 1.39.

Equinix (NASDAQ:EQIX) last issued its quarterly earnings results on Wednesday, April 29th. The financial services provider reported $10.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.30 by $6.49. The company had revenue of $2.44 billion for 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%. The business’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $9.67 earnings per share. Equinix has set its FY 2026 guidance at 42.310-43.110 EPS. Equities analysts forecast that Equinix, Inc. will post 38.26 earnings per share for the current fiscal year.

Equinix Dividend Announcement

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 was Wednesday, May 20th. This represents a $20.64 annualized dividend and a dividend yield of 2.0%. Equinix’s payout ratio is 142.84%.

Insider Buying and Selling

In other news, insider Brandi Galvin Morandi sold 3,726 shares of the stock in a transaction on Monday, June 8th. The stock was sold at an average price of $1,076.36, for a total value of $4,010,517.36. Following the sale, the insider directly owned 6,132 shares in the company, valued at approximately $6,600,239.52. This trade represents a 37.80% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible 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 company’s stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $1,060.29, for a total value of $132,536.25. Following the sale, the director owned 17,557 shares in the company, valued at approximately $18,615,511.53. This trade represents a 0.71% decrease in their position. 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 sold a total of 11,115 shares of company stock worth $12,022,574 over the last ninety days. Insiders own 0.27% of the company’s stock.

Wall Street Analyst Weigh In

EQIX has been the subject of a number of research analyst reports. Weiss Ratings upgraded Equinix from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday. Oppenheimer reaffirmed an “outperform” rating and issued a $1,200.00 target price on shares of Equinix in a research report on Thursday, April 30th. Guggenheim reaffirmed a “buy” rating and set a $1,235.00 target price on shares of Equinix in a research note on Wednesday, May 20th. Cantor Fitzgerald boosted their price target on shares of Equinix from $1,173.00 to $1,186.00 and gave the company an “overweight” rating in a research note on Friday, May 1st. Finally, TD Cowen upped their price objective on shares of Equinix from $1,123.00 to $1,143.00 and gave the stock a “buy” rating in a report on Thursday, April 30th. Three analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $1,155.64.

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.