State Street Corp Decreases Stock Holdings in Equinix, Inc. $EQIX

State Street Corp decreased its holdings in shares of Equinix, Inc. (NASDAQ:EQIX) by 0.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,212,192 shares of the financial services provider’s stock after selling 49,034 shares during the quarter. State Street Corp owned about 0.06% of Equinix worth $4,759,533,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Ameriflex Group Inc. raised its stake in Equinix by 433.3% during the third quarter. Ameriflex Group Inc. now owns 32 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 26 shares in the last quarter. Princeton Global Asset Management LLC raised its stake in 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 in the last quarter. WPG Advisers LLC raised its stake in Equinix by 51.7% during the fourth quarter. WPG Advisers LLC now owns 44 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 15 shares in the last quarter. Activest Wealth Management raised its stake in Equinix by 81.5% during the fourth quarter. Activest Wealth Management now owns 49 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 22 shares in the last quarter. Finally, Rossby Financial LCC raised its stake in Equinix by 111.5% during the fourth quarter. Rossby Financial LCC now owns 55 shares of the financial services provider’s stock valued at $42,000 after purchasing an additional 29 shares in the last quarter. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Equinix Trading Up 1.2%

EQIX stock opened at $1,055.85 on Friday. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 1.39. Equinix, Inc. has a twelve month low of $710.52 and a twelve month high of $1,128.68. The stock has a market capitalization of $104.13 billion, a price-to-earnings ratio of 73.07, a price-to-earnings-growth ratio of 1.96 and a beta of 0.99. The firm’s fifty day simple moving average is $1,066.23 and its two-hundred day simple moving average is $923.59.

Equinix (NASDAQ:EQIX) last posted its quarterly earnings data on Wednesday, April 29th. The financial services provider reported $10.79 earnings per share for the quarter, beating analysts’ consensus estimates of $4.30 by $6.49. The business had revenue of $2.44 billion for the quarter, compared to analysts’ expectations 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 in the previous year, the business posted $9.67 earnings per share. Equinix has set its FY 2026 guidance at 42.310-43.110 EPS. As a group, analysts anticipate that Equinix, Inc. will post 37.72 earnings per share for the current year.

Equinix Announces Dividend

The business 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 $5.16 dividend. The ex-dividend date is Wednesday, May 20th. This represents a $20.64 dividend on an annualized basis and a dividend yield of 2.0%. Equinix’s dividend payout ratio is presently 142.84%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on EQIX shares. Scotiabank upped their price target on shares of Equinix from $1,050.00 to $1,120.00 and gave the company a “sector perform” rating in a research note on Thursday, April 30th. HSBC upped their price target on shares of Equinix from $1,100.00 to $1,250.00 and gave the company a “buy” rating in a research note on Monday, April 27th. Morgan Stanley upped their price target on shares of Equinix from $1,075.00 to $1,250.00 and gave the company an “overweight” rating in a research note on Monday, April 13th. Zacks Research cut shares of Equinix from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 15th. Finally, Mizuho boosted their price objective on shares of Equinix from $1,165.00 to $1,200.00 and gave the company an “outperform” rating in a research report on Thursday, May 7th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,143.60.

Insider Activity at Equinix

In other news, insider Brandi Galvin Morandi sold 3,726 shares of the company’s stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $1,076.36, for a total value of $4,010,517.36. Following the transaction, the insider directly owned 6,132 shares in the company, valued at approximately $6,600,239.52. This represents a 37.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Raouf Abdel sold 2,040 shares of the company’s stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $1,083.47, for a total transaction of $2,210,278.80. Following the completion of the transaction, the executive vice president owned 5,728 shares in the company, valued at approximately $6,206,116.16. The trade was a 26.26% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 11,539 shares of company stock valued at $12,455,054. 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.