Torray Investment Partners LLC Invests $16.46 Million in Equinix, Inc. $EQIX

Torray Investment Partners LLC acquired a new stake in Equinix, Inc. (NASDAQ:EQIX) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 21,019 shares of the financial services provider’s stock, valued at approximately $16,463,000. Equinix accounts for 2.2% of Torray Investment Partners LLC’s holdings, making the stock its 21st biggest holding.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Westside Investment Management Inc. increased its stake in Equinix by 190.9% during the second quarter. Westside Investment Management Inc. now owns 32 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 21 shares during the period. Atlantic Union Bankshares Corp purchased a new stake in Equinix during the 2nd quarter worth approximately $26,000. Bank of Jackson Hole Trust lifted its holdings in Equinix by 70.0% during the 2nd quarter. Bank of Jackson Hole Trust now owns 34 shares of the financial services provider’s stock worth $27,000 after buying an additional 14 shares in the last quarter. Abound Wealth Management boosted its position in Equinix by 209.1% in the 3rd quarter. Abound Wealth Management now owns 34 shares of the financial services provider’s stock valued at $27,000 after buying an additional 23 shares during the period. Finally, Clal Insurance Enterprises Holdings Ltd acquired a new position in shares of Equinix in the second quarter worth $28,000. 94.94% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on EQIX. Deutsche Bank Aktiengesellschaft assumed coverage on Equinix in a research note on Monday. They issued a “buy” rating on the stock. BMO Capital Markets upgraded Equinix from a “market perform” rating to an “outperform” rating and set a $900.00 price objective for the company in a research note on Wednesday, December 3rd. The Goldman Sachs Group downgraded Equinix from a “buy” rating to a “neutral” rating and set a $795.00 price objective for the company. in a research report on Thursday, December 18th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Equinix in a report on Wednesday, October 8th. Finally, Wall Street Zen upgraded shares of Equinix from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Four research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $953.90.

Insider Buying and Selling

In other Equinix news, insider Jonathan Lin sold 124 shares of the business’s stock in a transaction that occurred on Tuesday, December 2nd. The stock was sold at an average price of $731.18, for a total value of $90,666.32. Following the completion of the sale, the insider owned 8,299 shares in the company, valued at approximately $6,068,062.82. The trade was a 1.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Christopher B. Paisley sold 50 shares of the firm’s stock in a transaction that occurred on Tuesday, November 18th. The stock was sold at an average price of $777.58, for a total transaction of $38,879.00. Following the transaction, the director owned 17,782 shares in the company, valued at approximately $13,826,927.56. This trade represents a 0.28% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 8,704 shares of company stock valued at $6,617,748 in the last 90 days. Company insiders own 0.27% of the company’s stock.

Equinix Stock Performance

Shares of Equinix stock opened at $772.02 on Tuesday. The company has a quick ratio of 1.62, a current ratio of 1.62 and a debt-to-equity ratio of 1.32. Equinix, Inc. has a 52 week low of $701.41 and a 52 week high of $964.73. The firm’s 50 day moving average is $771.96 and its two-hundred day moving average is $784.47. The firm has a market capitalization of $75.80 billion, a P/E ratio of 70.70, a P/E/G ratio of 1.47 and a beta of 1.05.

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

Equinix Dividend Announcement

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

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.