Prestige Wealth Management Group LLC Buys 1,306 Shares of Equinix, Inc. $EQIX

Prestige Wealth Management Group LLC lifted its stake in shares of Equinix, Inc. (NASDAQ:EQIX) by 5,678.3% during the 1st quarter, HoldingsChannel reports. The firm owned 1,329 shares of the financial services provider’s stock after acquiring an additional 1,306 shares during the period. Prestige Wealth Management Group LLC’s holdings in Equinix were worth $1,303,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Norges Bank bought a new position in Equinix in the 4th quarter valued at approximately $984,355,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in Equinix by 408.1% in the third 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 valued at $929,312,000 after buying an additional 953,001 shares in the last quarter. Cohen & Steers Inc. grew its stake in shares of Equinix by 23.3% during the fourth 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 last quarter. Deutsche Bank AG increased its holdings in shares of Equinix by 30.0% during the fourth 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 in the last quarter. Finally, Balyasny Asset Management L.P. increased its holdings in shares of Equinix by 709.3% during the fourth quarter. Balyasny Asset Management L.P. now owns 286,288 shares of the financial services provider’s stock worth $219,342,000 after buying an additional 250,914 shares in the last quarter. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Equinix news, insider Brandi Galvin Morandi sold 3,726 shares of the firm’s stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $1,076.36, for a total transaction of $4,010,517.36. Following the completion of the transaction, the insider owned 6,132 shares in the company, valued at approximately $6,600,239.52. This trade represents a 37.80% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Christopher B. Paisley sold 125 shares of the business’s stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $1,060.29, for a total transaction of $132,536.25. Following the completion of the transaction, the director owned 17,557 shares in the company, valued at $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. Over the last three months, insiders have sold 11,115 shares of company stock valued at $12,022,574. Insiders own 0.27% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on EQIX. HSBC raised their price objective on Equinix from $1,100.00 to $1,250.00 and gave the company a “buy” rating in a report on Monday, April 27th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $1,207.00 target price on shares of Equinix in a report on Tuesday, May 5th. Truist Financial set a $1,215.00 price target on Equinix in a research note on Friday, May 1st. Barclays boosted their price target on Equinix from $1,109.00 to $1,130.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 1st. Finally, TD Cowen upped their price objective on Equinix from $1,123.00 to $1,143.00 and gave the company a “buy” rating in a research note on Thursday, April 30th. Three equities research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $1,153.79.

Equinix Stock Performance

NASDAQ EQIX opened at $1,028.74 on Thursday. The company has a market capitalization of $101.45 billion, a price-to-earnings ratio of 71.19, a PEG ratio of 1.91 and a beta of 0.98. Equinix, Inc. has a twelve month low of $720.62 and a twelve month high of $1,128.68. The stock has a fifty day simple moving average of $1,057.27 and a 200 day simple moving average of $983.75. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 1.39.

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

Equinix Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 17th. Investors of record on Wednesday, May 20th were paid a $5.16 dividend. This represents a $20.64 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date of this dividend was Wednesday, May 20th. Equinix’s payout ratio is currently 142.84%.

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.