NewEdge Wealth LLC Lowers Stock Holdings in Equinix, Inc. $EQIX

NewEdge Wealth LLC reduced its position in Equinix, Inc. (NASDAQ:EQIX) by 48.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,546 shares of the financial services provider’s stock after selling 1,451 shares during the quarter. NewEdge Wealth LLC’s holdings in Equinix were worth $1,515,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Avion Wealth lifted its position in shares of Equinix by 73.3% during the first quarter. Avion Wealth now owns 26 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 11 shares in the last quarter. Kemnay Advisory Services Inc. purchased a new position in shares of Equinix in the fourth quarter valued at approximately $30,000. Princeton Global Asset Management LLC grew its holdings in shares of Equinix by 200.0% in the fourth quarter. Princeton Global Asset Management LLC now owns 42 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 28 shares in the last quarter. Physician Wealth Advisors Inc. grew its holdings in shares of Equinix by 266.7% in the first quarter. Physician Wealth Advisors Inc. now owns 33 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 24 shares in the last quarter. Finally, WPG Advisers LLC increased its stake in Equinix by 51.7% during the 4th quarter. WPG Advisers LLC now owns 44 shares of the financial services provider’s stock worth $34,000 after buying an additional 15 shares during the period. 94.94% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on EQIX shares. Citigroup increased their target price on shares of Equinix from $1,240.00 to $1,260.00 and gave the stock a “buy” rating in a report on Monday, June 29th. Guggenheim reiterated a “buy” rating and issued a $1,235.00 price objective on shares of Equinix in a research note on Wednesday, May 20th. Morgan Stanley lifted their target price on Equinix from $1,075.00 to $1,250.00 and gave the company an “overweight” rating in a report on Monday, April 13th. Truist Financial set a $1,215.00 target price on Equinix in a research note on Friday, May 1st. Finally, Mizuho upped their price target on Equinix from $1,165.00 to $1,200.00 and gave the stock an “outperform” rating in a report on Thursday, May 7th. Three analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $1,153.79.

Insiders Place Their Bets

In other Equinix news, Chairman Charles J. Meyers sold 5,224 shares of Equinix stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of $1,085.23, for a total transaction of $5,669,241.52. Following the completion of the sale, the chairman directly owned 7,370 shares of the company’s stock, valued at $7,998,145.10. The trade was a 41.48% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Brandi Galvin Morandi sold 3,726 shares of the company’s stock in a transaction dated 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 transaction, the insider directly owned 6,132 shares of the company’s stock, valued at approximately $6,600,239.52. This represents a 37.80% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 11,115 shares of company stock valued at $12,022,574 in the last three months. Corporate insiders own 0.27% of the company’s stock.

Equinix Stock Performance

Shares of NASDAQ:EQIX opened at $1,084.24 on Monday. Equinix, Inc. has a 52 week low of $720.62 and a 52 week high of $1,128.68. The company’s 50 day moving average is $1,056.85 and its two-hundred day moving average is $987.85. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 1.39. The company has a market cap of $106.93 billion, a PE ratio of 75.03, a P/E/G ratio of 2.01 and a beta of 0.98.

Equinix (NASDAQ:EQIX) last announced its quarterly earnings data on Wednesday, April 29th. The financial services provider reported $10.79 earnings per share for the quarter, beating analysts’ consensus estimates of $4.30 by $6.49. The business 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 company’s revenue was up 9.8% on a year-over-year basis. During the same period last year, the business earned $9.67 EPS. Equinix has set its FY 2026 guidance at 42.310-43.110 EPS. Equities analysts predict that Equinix, Inc. will post 38.25 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 dividend on an annualized basis and a yield of 1.9%. Equinix’s dividend payout ratio (DPR) 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.