Sterling Capital Management LLC Raises Stock Holdings in Equinix, Inc. $EQIX

Sterling Capital Management LLC increased its holdings in shares of Equinix, Inc. (NASDAQ:EQIX) by 134.3% in the first quarter, Holdings Channel.com reports. The fund owned 9,282 shares of the financial services provider’s stock after buying an additional 5,321 shares during the quarter. Sterling Capital Management LLC’s holdings in Equinix were worth $9,099,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Ameriflex Group Inc. increased its stake in Equinix by 433.3% in the third quarter. Ameriflex Group Inc. now owns 32 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 26 shares during the period. Kemnay Advisory Services Inc. purchased a new stake in shares of Equinix during the fourth quarter valued at $30,000. Princeton Global Asset Management LLC boosted its stake in shares of Equinix by 200.0% during 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 during the period. WPG Advisers LLC grew its holdings in shares of Equinix by 51.7% in the fourth quarter. WPG Advisers LLC now owns 44 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 15 shares during the last quarter. Finally, Activest Wealth Management grew its holdings in shares of Equinix by 81.5% in the fourth quarter. Activest Wealth Management now owns 49 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 22 shares during the last quarter. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Equinix Trading Up 0.3%

NASDAQ:EQIX opened at $1,091.30 on Friday. The firm has a 50-day simple moving average of $1,079.57 and a 200-day simple moving average of $948.17. Equinix, Inc. has a one year low of $720.62 and a one year high of $1,128.68. The firm has a market cap of $107.62 billion, a P/E ratio of 75.52, a P/E/G ratio of 2.02 and a beta of 0.99. The company has a debt-to-equity ratio of 1.39, a quick ratio of 1.18 and a current ratio of 1.18.

Equinix (NASDAQ:EQIX) last released its quarterly earnings data on Wednesday, April 29th. The financial services provider reported $10.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.30 by $6.49. The firm had revenue of $2.44 billion for 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 company’s quarterly revenue was up 9.8% on a year-over-year basis. During the same period last year, the firm earned $9.67 earnings per share. Equinix has set its FY 2026 guidance at 42.310-43.110 EPS. Equities analysts anticipate that Equinix, Inc. will post 38.26 EPS for the current fiscal year.

Equinix Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 17th. Stockholders of record on Wednesday, May 20th were given a $5.16 dividend. This represents a $20.64 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend was Wednesday, May 20th. Equinix’s payout ratio is presently 142.84%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on EQIX shares. Sanford C. Bernstein initiated coverage on shares of Equinix in a research report on Thursday, March 5th. They set an “outperform” rating and a $1,128.00 target price on the stock. Wall Street Zen raised Equinix from a “sell” rating to a “hold” rating in a research note on Saturday, May 2nd. Weiss Ratings downgraded Equinix from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday. JPMorgan Chase & Co. lifted their target price on Equinix from $1,100.00 to $1,200.00 and gave the company an “overweight” rating in a research report on Thursday, April 30th. Finally, Guggenheim reiterated a “buy” rating and issued a $1,235.00 target price on shares of Equinix in a report on Wednesday, May 20th. Three analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, Equinix currently has an average rating of “Moderate Buy” and an average target price of $1,151.67.

Insider Buying and Selling

In related news, insider Brandi Galvin Morandi sold 3,726 shares of the company’s stock in a transaction on Monday, June 8th. The stock was sold at an average price of $1,076.36, for a total transaction of $4,010,517.36. Following the completion of the sale, the insider directly owned 6,132 shares in the company, valued at $6,600,239.52. This represents a 37.80% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Chairman Charles J. Meyers sold 5,224 shares of the firm’s stock in a transaction dated Wednesday, May 6th. The shares were sold at an average price of $1,085.23, for a total value of $5,669,241.52. Following the sale, the chairman directly owned 7,370 shares in the company, valued at approximately $7,998,145.10. The trade was a 41.48% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 11,539 shares of company stock valued at $12,455,054. 0.27% of the stock is currently owned by insiders.

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.