Korea Investment CORP Buys Shares of 85,949 Equinix, Inc. $EQIX

Korea Investment CORP purchased a new position in Equinix, Inc. (NASDAQ:EQIX) in the second quarter, HoldingsChannel reports. The firm purchased 85,949 shares of the financial services provider’s stock, valued at approximately $89,592,000.

Several other institutional investors and hedge funds have also made changes to their positions in EQIX. Brighton Jones LLC raised its holdings in Equinix by 28.9% during the fourth quarter. Brighton Jones LLC now owns 326 shares of the financial services provider’s stock worth $307,000 after purchasing an additional 73 shares in the last quarter. Integrated Wealth Concepts LLC boosted its stake in Equinix by 11.5% during the 1st quarter. Integrated Wealth Concepts LLC now owns 522 shares of the financial services provider’s stock valued at $425,000 after purchasing an additional 54 shares in the last quarter. Empowered Funds LLC increased its position in shares of Equinix by 21.8% during the 1st quarter. Empowered Funds LLC now owns 3,050 shares of the financial services provider’s stock valued at $2,487,000 after purchasing an additional 546 shares during the period. Schnieders Capital Management LLC. acquired a new position in shares of Equinix during the 2nd quarter valued at $231,000. Finally, Brown Advisory Inc. raised its stake in shares of Equinix by 2.8% in the 2nd quarter. Brown Advisory Inc. now owns 1,074 shares of the financial services provider’s stock worth $854,000 after buying an additional 29 shares in the last quarter. 94.94% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

EQIX has been the topic of a number of research analyst reports. Wall Street Zen raised Equinix from a “sell” rating to a “hold” rating in a report on Saturday, May 2nd. Truist Financial boosted their target price on shares of Equinix from $1,215.00 to $1,220.00 and gave the stock a “buy” rating in a report on Friday, July 31st. Raymond James Financial upgraded shares of Equinix from a “market perform” rating to a “strong-buy” rating and set a $1,250.00 target price for the company in a report on Thursday, April 30th. The Goldman Sachs Group upped their price target on Equinix from $894.00 to $1,015.00 and gave the company a “neutral” rating in a report on Thursday, April 30th. Finally, Oppenheimer reiterated an “outperform” rating and set a $1,200.00 price objective on shares of Equinix in a research report on Thursday, April 30th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $1,203.40.

Insider Buying and Selling at Equinix

In related news, Director Christopher B. Paisley sold 4,000 shares of the firm’s stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $1,019.28, for a total transaction of $4,077,120.00. Following the completion of the sale, the director directly owned 13,859 shares in the company, valued at approximately $14,126,201.52. This trade represents a 22.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Brandi Galvin Morandi sold 3,726 shares of the business’s stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $1,076.36, for a total transaction of $4,010,517.36. Following the transaction, the insider directly owned 6,132 shares in the company, valued at $6,600,239.52. The trade was a 37.80% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 7,986 shares of company stock valued at $8,370,777 in the last 90 days. 0.27% of the stock is currently owned by corporate insiders.

Equinix Trading Down 1.6%

Equinix stock opened at $1,065.39 on Friday. The company has a 50 day moving average price of $1,052.66 and a 200 day moving average price of $1,022.48. Equinix, Inc. has a 52 week low of $720.62 and a 52 week high of $1,128.68. 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 firm has a market capitalization of $105.12 billion, a price-to-earnings ratio of 68.60, a P/E/G ratio of 1.54 and a beta of 0.99.

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

Equinix Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 16th. Shareholders of record on Wednesday, August 19th will be given a dividend of $5.16 per share. The ex-dividend date is Wednesday, August 19th. This represents a $20.64 dividend on an annualized basis and a yield of 1.9%. Equinix’s dividend payout ratio (DPR) is presently 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.