Rakuten Investment Management Inc. Takes $17.50 Million Position in Equinix, Inc. $EQIX

Rakuten Investment Management Inc. bought a new position in shares of Equinix, Inc. (NASDAQ:EQIX) in the 2nd quarter, HoldingsChannel reports. The fund bought 16,131 shares of the financial services provider’s stock, valued at approximately $17,505,000.

Several other large investors have also added to or reduced their stakes in the business. Elevation Wealth Partners LLC boosted its stake in Equinix by 166.7% during the 2nd quarter. Elevation Wealth Partners LLC now owns 24 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 15 shares during the last quarter. Avion Wealth lifted its holdings in shares of Equinix by 73.3% in the first quarter. Avion Wealth now owns 26 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 11 shares in the last quarter. Physician Wealth Advisors Inc. boosted its position in shares of Equinix by 266.7% during the first quarter. Physician Wealth Advisors Inc. now owns 33 shares of the financial services provider’s stock valued at $32,000 after buying an additional 24 shares during the last quarter. Trust Co. of Vermont bought a new stake in Equinix during the second quarter worth $34,000. Finally, Kemnay Advisory Services Inc. purchased a new stake in Equinix in the 4th quarter valued at $30,000. Institutional investors own 94.94% of the company’s stock.

Equinix Stock Down 3.0%

EQIX stock opened at $1,044.41 on Friday. The stock has a market cap of $103.05 billion, a P/E ratio of 67.25, a P/E/G ratio of 1.53 and a beta of 0.99. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 1.44. The stock’s fifty day simple moving average is $1,050.60 and its two-hundred day simple moving average is $1,031.29. Equinix, Inc. has a 1-year low of $720.62 and a 1-year high of $1,128.68.

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

Equinix Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 16th. Shareholders 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 yield of 2.0%. Equinix’s payout ratio is currently 132.90%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Scotiabank reaffirmed a “sector perform” rating and set a $1,208.00 price objective on shares of Equinix in a report on Thursday, July 30th. Guggenheim reiterated a “buy” rating and issued a $1,235.00 target price on shares of Equinix in a report on Wednesday, May 20th. Cantor Fitzgerald raised their price target on shares of Equinix from $1,186.00 to $1,211.00 and gave the company an “overweight” rating in a research report on Thursday, July 30th. Citigroup restated a “market outperform” rating on shares of Equinix in a report on Tuesday, August 4th. Finally, Evercore reaffirmed an “outperform” rating and issued a $1,270.00 price objective on shares of Equinix in a research report on Tuesday, August 18th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, Equinix currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,203.40.

Insiders Place Their Bets

In related news, insider Kurt Pletcher sold 135 shares of Equinix stock in a transaction that occurred on Thursday, August 20th. The shares were sold at an average price of $1,075.50, for a total value of $145,192.50. Following the sale, the insider owned 4,077 shares of the company’s stock, valued at approximately $4,384,813.50. The trade was a 3.21% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Christopher B. Paisley sold 125 shares of the company’s stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $1,103.58, for a total value of $137,947.50. Following the completion of the transaction, the director owned 13,734 shares in the company, valued at approximately $15,156,567.72. The trade was a 0.90% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 7,986 shares of company stock valued at $8,370,777. Company insiders own 0.27% of the company’s stock.

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.