Clearbridge Investments LLC Decreases Position in Equinix, Inc. $EQIX

by · The Markets Daily

Clearbridge Investments LLC cut its stake in Equinix, Inc. (NASDAQ:EQIX – Free Report) by 30.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 505,719 shares of the financial services provider’s stock after selling 222,452 shares during the quarter. Clearbridge Investments LLC owned approximately 0.52% of Equinix worth $387,462,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Douglas Lane & Associates LLC lifted its stake in Equinix by 3.9% in the 4th quarter. Douglas Lane & Associates LLC now owns 112,030 shares of the financial services provider’s stock worth $85,833,000 after purchasing an additional 4,241 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in Equinix by 25.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,875,355 shares of the financial services provider’s stock worth $2,252,094,000 after purchasing an additional 588,967 shares in the last quarter. Foresight Group Ltd Liability Partnership lifted its stake in Equinix by 10.0% in the 3rd quarter. Foresight Group Ltd Liability Partnership now owns 26,139 shares of the financial services provider’s stock worth $20,425,000 after purchasing an additional 2,378 shares in the last quarter. Candriam S.C.A. lifted its stake in Equinix by 95.8% in the 3rd quarter. Candriam S.C.A. now owns 84,128 shares of the financial services provider’s stock worth $65,892,000 after purchasing an additional 41,159 shares in the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its stake in Equinix by 71.1% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 100,791 shares of the financial services provider’s stock worth $78,944,000 after purchasing an additional 41,887 shares in the last quarter. 94.94% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Equinix

In other news, CEO Adaire Fox-Martin sold 1,086 shares of the firm’s stock in a transaction that occurred on Thursday, March 12th. The shares were sold at an average price of $966.20, for a total transaction of $1,049,293.20. Following the completion of the sale, the chief executive officer owned 19,574 shares in the company, valued at $18,912,398.80. This trade represents a 5.26% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Charles J. Meyers sold 5,224 shares of the firm’s stock in a transaction that occurred on 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 sale, the chairman owned 7,370 shares of the company’s stock, valued at $7,998,145.10. This represents a 41.48% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 11,053 shares of company stock worth $11,569,731. Insiders own 0.27% of the company’s stock.

Equinix Stock Down 0.8%

Shares of NASDAQ EQIX opened at $1,080.95 on Friday. The company has a 50 day simple moving average of $1,058.36 and a 200-day simple moving average of $913.59. The company has a market capitalization of $106.60 billion, a P/E ratio of 74.81, a P/E/G ratio of 2.03 and a beta of 0.99. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.18 and a quick ratio of 1.18. Equinix, Inc. has a 1 year low of $710.52 and a 1 year high of $1,128.68.

Equinix (NASDAQ:EQIX – Get Free Report) last announced 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 business had revenue of $2.44 billion during the quarter, compared to the consensus estimate of $2.52 billion. Equinix had a net margin of 15.07% and a return on equity of 10.03%. The business’s revenue was up 9.8% compared to the same quarter last year. During the same quarter last year, the firm earned $9.67 EPS. Equinix has set its FY 2026 guidance at 42.310-43.110 EPS. On average, equities research analysts predict that Equinix, Inc. will post 37.72 earnings per share for the current year.

Equinix Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 17th. Stockholders of record on Wednesday, May 20th will be issued a dividend of $5.16 per share. The ex-dividend date is Wednesday, May 20th. This represents a $20.64 dividend on an annualized basis and a dividend yield of 1.9%. Equinix’s dividend payout ratio (DPR) is currently 142.84%.

Analyst Ratings Changes

EQIX has been the topic of a number of research reports. Zacks Research lowered shares of Equinix from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 15th. BMO Capital Markets raised their target price on shares of Equinix from $925.00 to $1,050.00 and gave the stock an “outperform” rating in a research note on Thursday, February 12th. UBS Group raised their target price on shares of Equinix from $950.00 to $1,010.00 and gave the stock a “buy” rating in a research note on Thursday, February 12th. Oppenheimer reissued an “outperform” rating and issued a $1,200.00 target price on shares of Equinix in a research note on Thursday, April 30th. Finally, Morgan Stanley raised their target price on shares of Equinix from $1,075.00 to $1,250.00 and gave the stock an “overweight” rating in a research note on Monday, April 13th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,143.60.

Read Our Latest Research Report on EQIX

Equinix Profile

(Free Report)

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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