Swedbank AB Has $100.75 Million Stock Position in Equinix, Inc. $EQIX

Swedbank AB lowered its stake in shares of Equinix, Inc. (NASDAQ:EQIX) by 9.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 102,782 shares of the financial services provider’s stock after selling 10,619 shares during the quarter. Swedbank AB owned about 0.10% of Equinix worth $100,751,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the stock. Ameriflex Group Inc. grew its position in Equinix by 433.3% in the 3rd 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 last quarter. Kemnay Advisory Services Inc. acquired a new position in shares of Equinix during the fourth quarter valued at about $30,000. Princeton Global Asset Management LLC lifted its stake in shares of Equinix by 200.0% in the fourth quarter. Princeton Global Asset Management LLC now owns 42 shares of the financial services provider’s stock valued at $32,000 after buying an additional 28 shares during the period. Physician Wealth Advisors Inc. grew its position in Equinix by 266.7% during the first quarter. Physician Wealth Advisors Inc. now owns 33 shares of the financial services provider’s stock worth $32,000 after buying an additional 24 shares in the last quarter. Finally, WPG Advisers LLC grew its position in Equinix by 51.7% during the fourth quarter. WPG Advisers LLC now owns 44 shares of the financial services provider’s stock worth $34,000 after buying an additional 15 shares in the last quarter. 94.94% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on EQIX shares. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $1,207.00 price target on shares of Equinix in a research note on Tuesday, May 5th. Truist Financial set a $1,215.00 price objective on shares of Equinix in a report on Friday, May 1st. Wells Fargo & Company upped their price objective on Equinix from $975.00 to $1,200.00 and gave the company an “overweight” rating in a research note on Tuesday, April 21st. JPMorgan Chase & Co. increased their target price on Equinix from $1,100.00 to $1,200.00 and gave the stock an “overweight” rating in a report on Thursday, April 30th. Finally, Scotiabank raised their target price on Equinix from $1,050.00 to $1,120.00 and gave the stock a “sector perform” rating in a research report on Thursday, April 30th. Three investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $1,153.38.

Insider Buying and Selling

In related news, EVP Raouf Abdel sold 2,040 shares of the stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $1,083.47, for a total value of $2,210,278.80. Following the sale, the executive vice president directly owned 5,728 shares in the company, valued at $6,206,116.16. This trade represents a 26.26% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Chairman Charles J. Meyers sold 5,224 shares of Equinix stock in a transaction on Wednesday, May 6th. The stock was sold at an average price of $1,085.23, for a total transaction of $5,669,241.52. Following the transaction, the chairman directly owned 7,370 shares in the company, valued at approximately $7,998,145.10. This represents a 41.48% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 11,115 shares of company stock valued at $12,022,574. Insiders own 0.27% of the company’s stock.

Equinix Stock Up 2.4%

Shares of NASDAQ:EQIX opened at $1,022.93 on Wednesday. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 1.39. The firm has a market cap of $100.88 billion, a P/E ratio of 70.79, a P/E/G ratio of 1.85 and a beta of 0.98. The company’s 50-day moving average price is $1,069.22 and its two-hundred day moving average price is $963.16. Equinix, Inc. has a 12 month low of $720.62 and a 12 month high of $1,128.68.

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, topping the consensus estimate of $4.30 by $6.49. Equinix had a net margin of 15.07% and a return on equity of 10.03%. The firm had revenue of $2.44 billion during the quarter, compared to analysts’ expectations of $2.52 billion. During the same quarter in the previous year, the company posted $9.67 EPS. Equinix’s revenue was up 9.8% on a year-over-year basis. Equinix has set its FY 2026 guidance at 42.310-43.110 EPS. As a group, research analysts forecast that Equinix, Inc. will post 38.26 EPS for the current fiscal year.

Equinix Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 17th. Stockholders of record on Wednesday, May 20th were given a dividend of $5.16 per share. This represents a $20.64 annualized dividend and a dividend yield of 2.0%. The ex-dividend date was Wednesday, May 20th. Equinix’s payout ratio is presently 142.84%.

Equinix 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.