Pictet Asset Management Holding SA Sells 211,460 Shares of Equinix, Inc. $EQIX

Pictet Asset Management Holding SA lowered its position in Equinix, Inc. (NASDAQ:EQIX) by 47.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 238,723 shares of the financial services provider’s stock after selling 211,460 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Equinix were worth $234,006,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in Equinix by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 13,398,906 shares of the financial services provider’s stock worth $10,265,706,000 after purchasing an additional 107,227 shares during the period. Cohen & Steers Inc. raised its holdings in shares of Equinix by 23.3% in the fourth quarter. Cohen & Steers Inc. now owns 2,609,011 shares of the financial services provider’s stock worth $1,998,978,000 after buying an additional 493,141 shares during the period. Geode Capital Management LLC raised its holdings in shares of Equinix by 1.0% in the fourth quarter. Geode Capital Management LLC now owns 2,567,830 shares of the financial services provider’s stock worth $1,959,731,000 after buying an additional 25,383 shares during the period. Northern Trust Corp lifted its stake in shares of Equinix by 0.6% during the 4th quarter. Northern Trust Corp now owns 1,500,506 shares of the financial services provider’s stock worth $1,149,628,000 after acquiring an additional 9,614 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of Equinix during the 4th quarter worth approximately $984,355,000. Institutional investors own 94.94% of the company’s stock.

Equinix Stock Up 0.3%

Shares of NASDAQ:EQIX opened at $1,091.30 on Friday. Equinix, Inc. has a 52-week low of $720.62 and a 52-week high of $1,128.68. The stock has a market cap of $107.62 billion, a P/E ratio of 75.52, a price-to-earnings-growth ratio of 2.03 and a beta of 0.99. The business’s 50 day moving average is $1,079.57 and its 200 day moving average is $948.17. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 1.39.

Equinix (NASDAQ:EQIX) last issued its earnings results 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 return on equity of 10.03% and a net margin of 15.07%.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 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. Sell-side analysts predict that Equinix, Inc. will post 38.26 EPS for the current year.

Equinix Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 17th. Stockholders of record on Wednesday, May 20th were paid a dividend of $5.16 per share. The ex-dividend date was Wednesday, May 20th. This represents a $20.64 annualized dividend and a dividend yield of 1.9%. Equinix’s dividend payout ratio (DPR) is currently 142.84%.

Analyst Ratings Changes

Several equities analysts have commented on the company. Raymond James Financial raised Equinix from a “market perform” rating to a “strong-buy” rating and set a $1,250.00 price objective on the stock in a research report on Thursday, April 30th. Mizuho lifted their target price on Equinix from $1,165.00 to $1,200.00 and gave the stock an “outperform” rating in a research report on Thursday, May 7th. Citigroup reissued a “buy” rating on shares of Equinix in a research note on Wednesday, June 3rd. TD Cowen upped their price target on shares of Equinix from $1,123.00 to $1,143.00 and gave the stock a “buy” rating in a report on Thursday, April 30th. Finally, Wall Street Zen raised shares of Equinix from a “sell” rating to a “hold” rating in a research note on Saturday, May 2nd. Three investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $1,151.67.

Insider Transactions at Equinix

In related news, EVP Raouf Abdel sold 2,040 shares of the company’s stock in a transaction dated 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 completion of the sale, the executive vice president directly owned 5,728 shares of the company’s stock, valued at $6,206,116.16. This represents a 26.26% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Christopher B. Paisley sold 125 shares of the stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $1,060.29, for a total transaction of $132,536.25. Following the transaction, the director owned 17,557 shares in the company, valued at approximately $18,615,511.53. The trade was a 0.71% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 11,539 shares of company stock valued at $12,455,054. Insiders own 0.27% of the company’s stock.

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.