Meeder Advisory Services Inc. Acquires Shares of 1,999 Equinix, Inc. $EQIX

Meeder Advisory Services Inc. bought a new position in shares of Equinix, Inc. (NASDAQ:EQIX) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 1,999 shares of the financial services provider’s stock, valued at approximately $2,084,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. SJS Investment Consulting Inc. lifted its holdings in Equinix by 27.3% during the first quarter. SJS Investment Consulting Inc. now owns 42 shares of the financial services provider’s stock worth $41,000 after acquiring an additional 9 shares during the period. Fulton Bank N.A. boosted its position in Equinix by 3.1% in the second quarter. Fulton Bank N.A. now owns 328 shares of the financial services provider’s stock worth $342,000 after purchasing an additional 10 shares during the last quarter. Avion Wealth grew its stake in Equinix by 73.3% in the 1st quarter. Avion Wealth now owns 26 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 11 shares during the period. Blue Trust Inc. grew its stake in Equinix by 1.3% in the 1st quarter. Blue Trust Inc. now owns 931 shares of the financial services provider’s stock valued at $912,000 after purchasing an additional 12 shares during the period. Finally, Cornerstone Planning Group LLC increased its position in shares of Equinix by 30.8% during the 1st quarter. Cornerstone Planning Group LLC now owns 51 shares of the financial services provider’s stock valued at $54,000 after purchasing an additional 12 shares during the last quarter. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Wall Street Analysts Forecast Growth

EQIX has been the topic of a number of recent analyst reports. Guggenheim reiterated a “buy” rating and set a $1,235.00 target price on shares of Equinix in a research note on Wednesday, May 20th. Zacks Research downgraded shares of Equinix from a “strong-buy” rating to a “hold” rating in a report on Friday, May 15th. Wells Fargo & Company lifted their price objective on shares of Equinix from $975.00 to $1,200.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 21st. Wall Street Zen upgraded shares of Equinix from a “sell” rating to a “hold” rating in a research note on Saturday, May 2nd. Finally, Citigroup reissued a “market outperform” rating on shares of Equinix in a research report on Tuesday, August 4th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, Equinix presently has a consensus rating of “Moderate Buy” and an average price target of $1,203.40.

Equinix Stock Down 1.1%

EQIX stock opened at $1,085.09 on Wednesday. The stock has a fifty day moving average of $1,050.91 and a 200-day moving average of $1,018.57. Equinix, Inc. has a fifty-two week low of $720.62 and a fifty-two week high of $1,128.68. The company has a market capitalization of $107.07 billion, a price-to-earnings ratio of 69.87, a PEG ratio of 1.56 and a beta of 0.99. The company has a debt-to-equity ratio of 1.44, a quick ratio of 1.13 and a current ratio of 1.13.

Equinix (NASDAQ:EQIX) last announced its quarterly earnings data on Wednesday, July 29th. The financial services provider reported $11.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.73 by $7.05. The business had revenue of $2.62 billion for the quarter, compared to analysts’ expectations of $2.59 billion. Equinix had a return on equity of 10.76% and a net margin of 15.64%.The firm’s quarterly revenue was up 16.4% compared to the same quarter last year. During the same period in the previous year, the business posted $9.91 EPS. Equinix has set its FY 2026 guidance at 42.690-43.290 EPS. As a group, equities research analysts predict that Equinix, Inc. will post 38.23 earnings per share for the current year.

Equinix Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 16th. Stockholders of record on Wednesday, August 19th will be given a $5.16 dividend. The ex-dividend date of this dividend is Wednesday, August 19th. This represents a $20.64 annualized dividend and a dividend yield of 1.9%. Equinix’s payout ratio is 132.90%.

Insider Activity at Equinix

In related 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 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. This trade represents a 37.80% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Raouf Abdel sold 2,040 shares of the firm’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 completion of the transaction, the executive vice president directly owned 5,728 shares of the company’s stock, valued at approximately $6,206,116.16. This trade represents a 26.26% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 9,891 shares of company stock worth $10,435,864. 0.27% of the stock is owned by corporate insiders.

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.