Pacer Advisors Inc. Purchases 8,093 Shares of Equinix, Inc. $EQIX
by Kim Johansen · The Markets DailyPacer Advisors Inc. lifted its position in Equinix, Inc. (NASDAQ:EQIX – Free Report) by 9.9% during the 3rd quarter, HoldingsChannel reports. The firm owned 89,652 shares of the financial services provider’s stock after buying an additional 8,093 shares during the period. Pacer Advisors Inc.’s holdings in Equinix were worth $70,219,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Brighton Jones LLC increased its stake in Equinix by 28.9% in the 4th quarter. Brighton Jones LLC now owns 326 shares of the financial services provider’s stock worth $307,000 after acquiring an additional 73 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Equinix by 0.7% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 2,644 shares of the financial services provider’s stock worth $2,155,000 after purchasing an additional 19 shares in the last quarter. Walleye Capital LLC increased its position in shares of Equinix by 113.2% in the first quarter. Walleye Capital LLC now owns 1,582 shares of the financial services provider’s stock worth $1,290,000 after purchasing an additional 840 shares during the last quarter. Synovus Financial Corp purchased a new stake in Equinix in the first quarter valued at approximately $302,000. Finally, Ieq Capital LLC lifted its position in Equinix by 14.4% during the first quarter. Ieq Capital LLC now owns 4,730 shares of the financial services provider’s stock valued at $3,857,000 after purchasing an additional 594 shares during the last quarter. Hedge funds and other institutional investors own 94.94% of the company’s stock.
Insider Activity
In other news, Director Christopher B. Paisley sold 50 shares of the firm’s stock in a transaction that occurred on Tuesday, November 18th. The shares were sold at an average price of $777.58, for a total value of $38,879.00. Following the transaction, the director owned 17,782 shares in the company, valued at approximately $13,826,927.56. This trade represents a 0.28% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Adaire Fox-Martin sold 2,894 shares of the company’s stock in a transaction on Tuesday, December 2nd. The shares were sold at an average price of $731.09, for a total transaction of $2,115,774.46. Following the sale, the chief executive officer owned 12,366 shares of the company’s stock, valued at $9,040,658.94. This represents a 18.96% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 8,704 shares of company stock valued at $6,617,748. Corporate insiders own 0.27% of the company’s stock.
Wall Street Analyst Weigh In
A number of equities analysts have recently commented on the stock. Zacks Research lowered shares of Equinix from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 19th. Cowen reiterated a “buy” rating on shares of Equinix in a research report on Thursday, October 30th. BMO Capital Markets raised Equinix from a “market perform” rating to an “outperform” rating and set a $900.00 target price on the stock in a research note on Wednesday, December 3rd. Citigroup restated a “buy” rating on shares of Equinix in a research report on Thursday, December 11th. Finally, Morgan Stanley began coverage on Equinix in a report on Thursday, October 16th. They issued an “overweight” rating and a $950.00 price objective for the company. Four research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, Equinix currently has an average rating of “Moderate Buy” and a consensus price target of $953.90.
Read Our Latest Stock Report on Equinix
Equinix Stock Performance
NASDAQ EQIX opened at $757.54 on Friday. The company has a 50-day simple moving average of $780.71 and a two-hundred day simple moving average of $792.19. Equinix, Inc. has a 12-month low of $701.41 and a 12-month high of $964.73. The firm has a market cap of $74.38 billion, a price-to-earnings ratio of 69.37, a PEG ratio of 1.54 and a beta of 1.05. The company has a quick ratio of 1.62, a current ratio of 1.62 and a debt-to-equity ratio of 1.32.
Equinix (NASDAQ:EQIX – Get Free Report) last released its earnings results on Wednesday, October 29th. The financial services provider reported $9.83 earnings per share for the quarter, beating analysts’ consensus estimates of $9.27 by $0.56. The company had revenue of $2.32 billion during the quarter, compared to analyst estimates of $2.33 billion. Equinix had a return on equity of 7.70% and a net margin of 11.82%.Equinix’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $9.05 EPS. Equinix has set its FY 2025 guidance at 37.950-38.77 EPS. On average, equities analysts forecast that Equinix, Inc. will post 33.1 EPS for the current year.
Equinix Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 17th. Stockholders of record on Wednesday, November 19th were paid a dividend of $4.69 per share. This represents a $18.76 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend was Wednesday, November 19th. Equinix’s dividend payout ratio is 171.79%.
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.
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