Welch & Forbes LLC Buys 615 Shares of Equinix, Inc. $EQIX

Welch & Forbes LLC boosted its stake in Equinix, Inc. (NASDAQ:EQIX) by 2.4% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 25,794 shares of the financial services provider’s stock after purchasing an additional 615 shares during the quarter. Welch & Forbes LLC’s holdings in Equinix were worth $25,284,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its position in shares of Equinix by 22.1% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 74,890 shares of the financial services provider’s stock worth $73,410,000 after buying an additional 13,567 shares during the last quarter. Sovran Advisors LLC bought a new stake in Equinix during the 1st quarter worth approximately $201,000. Simplicity Wealth LLC acquired a new stake in Equinix in the first quarter valued at $432,000. Candriam S.C.A. raised its position in shares of Equinix by 1.6% during the first quarter. Candriam S.C.A. now owns 20,218 shares of the financial services provider’s stock worth $19,818,000 after acquiring an additional 317 shares during the last quarter. Finally, Relyea Zuckerberg Hanson LLC bought a new position in Equinix during the 1st quarter worth approximately $225,000. 94.94% of the stock is currently owned by institutional investors.

Equinix Stock Performance

Shares of EQIX stock traded up $16.34 during trading on Friday, reaching $1,051.21. 330,001 shares of the company’s stock traded hands, compared to its average volume of 635,703. The company has a market capitalization of $103.67 billion, a P/E ratio of 72.75, a PEG ratio of 1.95 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 firm’s 50-day moving average is $1,066.16 and its 200 day moving average is $967.61. Equinix, Inc. has a 1 year low of $720.62 and a 1 year high of $1,128.68.

Equinix (NASDAQ:EQIX) last released 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. Equinix had a net margin of 15.07% and a return on equity of 10.03%. The business had revenue of $2.44 billion during the quarter, compared to analyst estimates of $2.52 billion. During the same period in the previous year, the business earned $9.67 EPS. Equinix’s 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. Equities research analysts expect that Equinix, Inc. will post 38.26 EPS for the current year.

Equinix Dividend Announcement

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

Insider Buying and Selling

In other Equinix news, Chairman Charles J. Meyers sold 5,224 shares of Equinix stock in a transaction dated 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 completion of the transaction, the chairman owned 7,370 shares of the company’s stock, valued at $7,998,145.10. The trade was a 41.48% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Brandi Galvin Morandi sold 3,726 shares of the company’s stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $1,076.36, for a total transaction of $4,010,517.36. Following the sale, the insider directly owned 6,132 shares in the company, valued at $6,600,239.52. This trade represents a 37.80% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 11,115 shares of company stock valued at $12,022,574 in the last ninety days. 0.27% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on EQIX shares. Truist Financial set a $1,215.00 price objective on Equinix in a research note on Friday, May 1st. Wells Fargo & Company raised their price objective on shares of Equinix from $975.00 to $1,200.00 and gave the company an “overweight” rating in a research note on Tuesday, April 21st. Cantor Fitzgerald upped their price target on Equinix from $1,173.00 to $1,186.00 and gave the stock an “overweight” rating in a report on Friday, May 1st. Guggenheim reiterated a “buy” rating and issued a $1,235.00 price objective on shares of Equinix in a research note on Wednesday, May 20th. Finally, The Goldman Sachs Group lifted their target price on Equinix from $894.00 to $1,015.00 and gave the stock a “neutral” rating in a research note on Thursday, April 30th. Three research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $1,155.64.

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.