Strs Ohio Sells 10,591 Shares of Equinix, Inc. $EQIX

Strs Ohio lowered its stake in Equinix, Inc. (NASDAQ:EQIX) by 8.8% in the 1st quarter, HoldingsChannel.com reports. The firm owned 109,973 shares of the financial services provider’s stock after selling 10,591 shares during the period. Strs Ohio’s holdings in Equinix were worth $107,800,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Brighton Jones LLC boosted its position in shares of Equinix by 28.9% during the fourth quarter. Brighton Jones LLC now owns 326 shares of the financial services provider’s stock valued at $307,000 after purchasing an additional 73 shares in the last quarter. Integrated Wealth Concepts LLC boosted its holdings in shares of Equinix by 11.5% during the 1st quarter. Integrated Wealth Concepts LLC now owns 522 shares of the financial services provider’s stock valued at $425,000 after buying an additional 54 shares in the last quarter. Empowered Funds LLC increased its stake in shares of Equinix by 21.8% in the 1st quarter. Empowered Funds LLC now owns 3,050 shares of the financial services provider’s stock worth $2,487,000 after acquiring an additional 546 shares in the last quarter. Schnieders Capital Management LLC. purchased a new position in Equinix during the 2nd quarter valued at about $231,000. Finally, Brown Advisory Inc. boosted its stake in Equinix by 2.8% during the second quarter. Brown Advisory Inc. now owns 1,074 shares of the financial services provider’s stock worth $854,000 after acquiring an additional 29 shares in the last quarter. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Equinix Stock Down 1.1%

Shares of EQIX stock opened at $1,002.02 on Friday. Equinix, Inc. has a 12 month low of $720.62 and a 12 month high of $1,128.68. The stock has a market cap of $98.82 billion, a P/E ratio of 69.34, a P/E/G ratio of 1.88 and a beta of 0.98. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 1.39. The company has a 50 day simple moving average of $1,075.27 and a two-hundred day simple moving average of $957.83.

Equinix (NASDAQ:EQIX) last released its earnings results on Wednesday, April 29th. The financial services provider reported $10.79 earnings per share for the quarter, beating the consensus estimate of $4.30 by $6.49. Equinix had a return on equity of 10.03% and a net margin of 15.07%.The company had revenue of $2.44 billion for the quarter, compared to the consensus estimate of $2.52 billion. During the same period in the previous year, the business earned $9.67 earnings per share. Equinix’s quarterly revenue was up 9.8% compared to the same quarter last year. Equinix has set its FY 2026 guidance at 42.310-43.110 EPS. On average, research analysts expect that Equinix, Inc. will post 38.26 earnings per share for the current year.

Equinix Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 17th. Shareholders of record on Wednesday, May 20th were issued a dividend of $5.16 per share. This represents a $20.64 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date of this dividend was Wednesday, May 20th. Equinix’s dividend payout ratio (DPR) is 142.84%.

Insider Activity at Equinix

In other news, Chairman Charles J. Meyers sold 5,224 shares of the business’s stock in a transaction on 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 transaction, the chairman owned 7,370 shares of the company’s stock, valued at approximately $7,998,145.10. The trade was a 41.48% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Raouf Abdel sold 2,040 shares of the business’s stock in a transaction on 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 sale, 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 position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 11,539 shares of company stock worth $12,455,054. 0.27% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research firms have commented on EQIX. HSBC boosted their target price on Equinix from $1,100.00 to $1,250.00 and gave the stock a “buy” rating in a report on Monday, April 27th. Evercore restated an “outperform” rating and set a $1,240.00 price target on shares of Equinix in a report on Tuesday, April 28th. Scotiabank upped their price target on shares of Equinix from $1,050.00 to $1,120.00 and gave the stock a “sector perform” rating in a research note on Thursday, April 30th. Weiss Ratings downgraded shares of Equinix from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, June 23rd. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $1,207.00 price objective on shares of Equinix in a research report on Tuesday, May 5th. Three investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $1,153.38.

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.