Massachusetts Financial Services Co. MA Boosts Stake in Equinix, Inc. $EQIX

Massachusetts Financial Services Co. MA lifted its holdings in shares of Equinix, Inc. (NASDAQ:EQIX) by 9.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 390,066 shares of the financial services provider’s stock after purchasing an additional 32,294 shares during the quarter. Massachusetts Financial Services Co. MA owned about 0.40% of Equinix worth $305,515,000 as of its most recent filing with the Securities and Exchange Commission.

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

Analyst Ratings Changes

EQIX has been the topic of a number of research analyst reports. BMO Capital Markets raised Equinix from a “market perform” rating to an “outperform” rating and set a $900.00 target price on the stock in a research report on Wednesday, December 3rd. Citigroup reaffirmed a “buy” rating on shares of Equinix in a research note on Thursday, December 11th. Truist Financial increased their target price on Equinix from $961.00 to $973.00 and gave the stock a “buy” rating in a research note on Tuesday, November 18th. TD Cowen raised their target price on Equinix from $993.00 to $995.00 and gave the company a “buy” rating in a report on Thursday, October 30th. Finally, Barclays reaffirmed a “positive” rating and issued a $870.00 target price on shares of Equinix in a research report on Tuesday, January 13th. Four equities research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $959.64.

Equinix Stock Down 0.0%

Shares of NASDAQ EQIX opened at $801.78 on Monday. The stock has a market cap of $78.73 billion, a P/E ratio of 73.42, a PEG ratio of 1.25 and a beta of 1.05. The business’s fifty day simple moving average is $766.21 and its 200-day simple moving average is $782.46. Equinix, Inc. has a 12-month low of $701.41 and a 12-month high of $953.41. The company has a current ratio of 1.62, a quick ratio of 1.62 and a debt-to-equity ratio of 1.32.

Equinix (NASDAQ:EQIX) last issued its quarterly earnings results on Wednesday, October 29th. The financial services provider reported $9.83 earnings per share for the quarter, topping the consensus estimate of $9.27 by $0.56. The company had revenue of $2.32 billion for the quarter, compared to the consensus estimate 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 business earned $9.05 EPS. Equinix has set its FY 2025 guidance at 37.950-38.77 EPS. As a group, equities analysts predict that Equinix, Inc. will post 33.1 EPS for the current fiscal year.

Equinix Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 17th. Investors of record on Wednesday, November 19th were issued a $4.69 dividend. The ex-dividend date of this dividend was Wednesday, November 19th. This represents a $18.76 annualized dividend and a yield of 2.3%. Equinix’s dividend payout ratio (DPR) is 171.79%.

Insider Transactions at Equinix

In related news, EVP Raouf Abdel sold 159 shares of Equinix stock in a transaction that occurred on Tuesday, December 2nd. The shares were sold at an average price of $731.19, for a total value of $116,259.21. Following the completion of the transaction, the executive vice president owned 6,584 shares in the company, valued at $4,814,154.96. The trade was a 2.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Adaire Fox-Martin sold 2,894 shares of the stock in a transaction that occurred on Tuesday, December 2nd. The shares were sold at an average price of $731.09, for a total transaction of $2,115,774.46. Following the completion of the sale, the chief executive officer directly owned 12,366 shares in the company, valued at approximately $9,040,658.94. This represents a 18.96% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 8,704 shares of company stock valued at $6,617,748 over the last quarter. Insiders own 0.27% of the company’s stock.

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.