West Family Investments Inc. Takes $641,000 Position in Equinix, Inc. $EQIX

West Family Investments Inc. acquired a new stake in shares of Equinix, Inc. (NASDAQ:EQIX) during the second quarter, HoldingsChannel reports. The fund acquired 615 shares of the financial services provider’s stock, valued at approximately $641,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in shares of Equinix by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 13,398,906 shares of the financial services provider’s stock valued at $10,265,706,000 after buying an additional 107,227 shares during the period. BlackRock Inc. bought a new stake in shares of Equinix in the second quarter worth $11,930,074,000. Cohen & Steers Inc. increased its position in Equinix by 23.3% during the fourth quarter. Cohen & Steers Inc. now owns 2,609,011 shares of the financial services provider’s stock valued at $1,998,978,000 after acquiring an additional 493,141 shares during the last quarter. Geode Capital Management LLC increased its position in Equinix by 1.0% during the fourth quarter. Geode Capital Management LLC now owns 2,567,830 shares of the financial services provider’s stock valued at $1,959,731,000 after acquiring an additional 25,383 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its holdings in Equinix by 1.4% in the first quarter. Principal Financial Group Inc. now owns 1,980,497 shares of the financial services provider’s stock valued at $1,941,377,000 after acquiring an additional 27,643 shares during the period. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Insider Buying and Selling

In related news, EVP Raouf Abdel sold 2,040 shares of the company’s stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $1,083.47, for a total transaction of $2,210,278.80. Following the sale, the executive vice president 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 document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Christopher B. Paisley sold 125 shares of the stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $1,103.58, for a total transaction of $137,947.50. Following the transaction, the director owned 13,734 shares of the company’s stock, valued at $15,156,567.72. This trade represents a 0.90% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 9,891 shares of company stock worth $10,435,864. Insiders own 0.27% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on EQIX. JPMorgan Chase & Co. raised their price objective on shares of Equinix from $1,100.00 to $1,200.00 and gave the stock an “overweight” rating in a report on Thursday, April 30th. Royal Bank Of Canada upped their target price on shares of Equinix from $1,125.00 to $1,225.00 and gave the company an “outperform” rating in a report on Wednesday, August 5th. Weiss Ratings raised shares of Equinix from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, August 6th. Scotiabank restated a “sector perform” rating and issued a $1,208.00 price objective on shares of Equinix in a research note on Thursday, July 30th. Finally, Truist Financial boosted their price target on Equinix from $1,215.00 to $1,220.00 and gave the company a “buy” rating in a report on Friday, July 31st. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,203.40.

Equinix Price Performance

EQIX stock opened at $1,077.08 on Thursday. The company has a debt-to-equity ratio of 1.44, a quick ratio of 1.13 and a current ratio of 1.13. The company has a market capitalization of $106.28 billion, a PE ratio of 69.35, a price-to-earnings-growth ratio of 1.54 and a beta of 0.99. The company’s fifty day moving average price is $1,051.68 and its 200-day moving average price is $1,020.34. Equinix, Inc. has a one year low of $720.62 and a one year high of $1,128.68.

Equinix (NASDAQ:EQIX) last released its quarterly earnings data on Wednesday, July 29th. The financial services provider reported $11.78 EPS for the quarter, beating the consensus estimate of $4.73 by $7.05. The business had revenue of $2.62 billion during the quarter, compared to the consensus estimate of $2.59 billion. Equinix had a net margin of 15.64% and a return on equity of 10.76%. The business’s revenue was up 16.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $9.91 EPS. Equinix has set its FY 2026 guidance at 42.690-43.290 EPS. On average, equities analysts anticipate that Equinix, Inc. will post 38.23 EPS for the current fiscal year.

Equinix Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 16th. Investors of record on Wednesday, August 19th will be given a $5.16 dividend. This represents a $20.64 annualized dividend and a yield of 1.9%. The ex-dividend date is Wednesday, August 19th. Equinix’s payout ratio is currently 132.90%.

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.