Stoneridge Investment Partners LLC Purchases 1,163 Shares of Equinix, Inc. $EQIX

Stoneridge Investment Partners LLC lifted its position in Equinix, Inc. (NASDAQ:EQIX) by 186.4% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,787 shares of the financial services provider’s stock after buying an additional 1,163 shares during the period. Stoneridge Investment Partners LLC’s holdings in Equinix were worth $1,400,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. PFG Investments LLC raised its position in shares of Equinix by 14.4% during the third quarter. PFG Investments LLC now owns 1,274 shares of the financial services provider’s stock worth $998,000 after purchasing an additional 160 shares during the period. Resona Asset Management Co. Ltd. raised its holdings in Equinix by 6.2% during the 3rd quarter. Resona Asset Management Co. Ltd. now owns 59,497 shares of the financial services provider’s stock worth $46,532,000 after buying an additional 3,475 shares during the period. Mitsubishi UFJ Trust & Banking Corp lifted its stake in Equinix by 60.2% in the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 146,228 shares of the financial services provider’s stock valued at $114,532,000 after buying an additional 54,929 shares in the last quarter. Envestnet Portfolio Solutions Inc. boosted its holdings in shares of Equinix by 0.7% in the third quarter. Envestnet Portfolio Solutions Inc. now owns 7,053 shares of the financial services provider’s stock valued at $5,524,000 after buying an additional 51 shares during the period. Finally, UNIVEST FINANCIAL Corp increased its position in shares of Equinix by 15.4% during the third quarter. UNIVEST FINANCIAL Corp now owns 6,094 shares of the financial services provider’s stock worth $4,773,000 after acquiring an additional 815 shares in the last quarter. 94.94% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

EQIX has been the topic of several research reports. The Goldman Sachs Group cut shares of Equinix from a “buy” rating to a “neutral” rating and set a $795.00 price objective on the stock. in a research report on Thursday, December 18th. HSBC set a $1,050.00 price target on Equinix and gave the company a “buy” rating in a research note on Thursday, January 15th. UBS Group set a $959.00 price objective on Equinix in a research report on Wednesday, January 14th. Daiwa Capital Markets set a $917.00 price objective on Equinix and gave the stock an “outperform” rating in a report on Wednesday, October 22nd. Finally, Morgan Stanley began coverage on Equinix in a research report on Thursday, October 16th. They issued an “overweight” rating and a $950.00 target price on the stock. Four research analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $959.64.

Insider Buying and Selling

In other news, insider Kurt Pletcher sold 596 shares of the firm’s stock in a transaction that occurred on Friday, January 16th. The stock was sold at an average price of $801.78, for a total value of $477,860.88. Following the completion of the sale, the insider directly owned 3,195 shares of the company’s stock, valued at $2,561,687.10. This trade represents a 15.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Jonathan Lin sold 888 shares of Equinix stock in a transaction that occurred on Friday, January 16th. The stock was sold at an average price of $801.78, for a total value of $711,980.64. Following the transaction, the insider owned 9,390 shares of the company’s stock, valued at $7,528,714.20. This represents a 8.64% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 19,590 shares of company stock worth $15,366,046 in the last 90 days. 0.27% of the stock is owned by corporate insiders.

Equinix Price Performance

Shares of NASDAQ EQIX opened at $791.27 on Friday. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.62 and a quick ratio of 1.62. The business has a 50-day moving average of $764.83 and a 200-day moving average of $782.91. The stock has a market capitalization of $77.69 billion, a price-to-earnings ratio of 72.46, a PEG ratio of 1.24 and a beta of 1.05. Equinix, Inc. has a fifty-two week low of $701.41 and a fifty-two week high of $953.41.

Equinix (NASDAQ:EQIX) last released its earnings results on Wednesday, October 29th. The financial services provider reported $9.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $9.27 by $0.56. The business had revenue of $2.32 billion for the quarter, compared to analyst estimates of $2.33 billion. Equinix had a return on equity of 7.70% and a net margin of 11.82%.Equinix’s revenue was up 5.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $9.05 earnings per share. Equinix has set its FY 2025 guidance at 37.950-38.77 EPS. As a group, sell-side analysts predict that Equinix, Inc. will post 33.1 earnings per share for the current fiscal year.

Equinix Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 17th. Stockholders of record on Wednesday, November 19th were given a $4.69 dividend. This represents a $18.76 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend was Wednesday, November 19th. Equinix’s dividend payout ratio (DPR) is 171.79%.

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.