Russell Investments Group Ltd. Sells 26,135 Shares of Equinix, Inc. $EQIX
by Danessa Lincoln · The Markets DailyRussell Investments Group Ltd. lowered its position in shares of Equinix, Inc. (NASDAQ:EQIX – Free Report) by 5.3% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 471,613 shares of the financial services provider’s stock after selling 26,135 shares during the quarter. Equinix makes up about 0.5% of Russell Investments Group Ltd.’s investment portfolio, making the stock its 23rd largest position. Russell Investments Group Ltd.’s holdings in Equinix were worth $374,846,000 at the end of the most recent reporting period.
Several other large investors have also made changes to their positions in EQIX. Activest Wealth Management increased its position in Equinix by 121.4% in the first quarter. Activest Wealth Management now owns 31 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 17 shares during the period. Westside Investment Management Inc. grew its position in shares of Equinix by 190.9% during the 2nd quarter. Westside Investment Management Inc. now owns 32 shares of the financial services provider’s stock worth $25,000 after buying an additional 21 shares during the period. Atlantic Union Bankshares Corp bought a new stake in shares of Equinix during the second quarter worth approximately $26,000. Bank of Jackson Hole Trust raised its stake in shares of Equinix by 70.0% during the second quarter. Bank of Jackson Hole Trust now owns 34 shares of the financial services provider’s stock worth $27,000 after buying an additional 14 shares during the last quarter. Finally, Clal Insurance Enterprises Holdings Ltd acquired a new position in Equinix in the second quarter valued at approximately $28,000. Institutional investors and hedge funds own 94.94% of the company’s stock.
Insider Buying and Selling at Equinix
In other Equinix news, Chairman Charles J. Meyers sold 5,087 shares of the business’s stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $778.47, for a total transaction of $3,960,076.89. Following the sale, the chairman directly owned 10,426 shares of the company’s stock, valued at $8,116,328.22. The trade was a 32.79% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Brandi Galvin Morandi sold 100 shares of the firm’s stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $840.47, for a total value of $84,047.00. Following the completion of the transaction, the insider owned 8,277 shares of the company’s stock, valued at $6,956,570.19. The trade was a 1.19% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 5,641 shares of company stock worth $4,394,531. Company insiders own 0.27% of the company’s stock.
Equinix Price Performance
EQIX stock opened at $748.15 on Wednesday. The stock has a 50-day moving average price of $801.13 and a two-hundred day moving average price of $811.56. Equinix, Inc. has a 1 year low of $701.41 and a 1 year high of $994.03. The stock has a market cap of $73.46 billion, a PE ratio of 68.51, a price-to-earnings-growth ratio of 1.38 and a beta of 0.92. The company has a current ratio of 1.54, a quick ratio of 1.54 and a debt-to-equity ratio of 1.29.
Equinix (NASDAQ:EQIX – Get Free Report) last posted its quarterly earnings data on Wednesday, October 29th. The financial services provider reported $9.83 earnings per share for the quarter, topping the consensus estimate of $9.27 by $0.56. Equinix had a return on equity of 7.74% and a net margin of 11.82%.The company had revenue of $2.32 billion during the quarter, compared to analysts’ expectations of $2.33 billion. During the same period in the prior year, the firm earned $9.05 earnings per share. Equinix’s revenue for the quarter was up 5.2% compared to the same quarter last year. Equinix has set its Q4 2025 guidance at EPS. FY 2025 guidance at 37.950-38.77 EPS. Equities analysts forecast that Equinix, Inc. will post 33.1 EPS for the current fiscal year.
Equinix Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 17th. Stockholders of record on Wednesday, November 19th will be issued a $4.69 dividend. The ex-dividend date is Wednesday, November 19th. This represents a $18.76 dividend on an annualized basis and a dividend yield of 2.5%. Equinix’s dividend payout ratio (DPR) is 171.79%.
Analysts Set New Price Targets
EQIX has been the subject of several recent research reports. Daiwa Capital Markets set a $917.00 target price on shares of Equinix and gave the company an “outperform” rating in a research report on Wednesday, October 22nd. Cowen reissued a “buy” rating on shares of Equinix in a research note on Thursday, October 30th. Dbs Bank upgraded Equinix to a “moderate buy” rating in a research report on Wednesday, August 6th. Barclays increased their price target on shares of Equinix from $798.00 to $804.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 20th. Finally, BMO Capital Markets set a $900.00 price objective on shares of Equinix and gave the company a “market perform” rating in a report on Thursday, October 30th. Four research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, Equinix currently has a consensus rating of “Moderate Buy” and an average target price of $961.33.
Check Out Our Latest Analysis on Equinix
About Equinix
Equinix (Nasdaq: EQIX) is the world's digital infrastructure company . Digital leaders harness Equinix's trusted platform to bring together and interconnect foundational infrastructure at software speed. Equinix enables organizations to access all the right places, partners and possibilities to scale with agility, speed the launch of digital services, deliver world-class experiences and multiply their value, while supporting their sustainability goals.
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