Spire Wealth Management Lowers Stock Position in Equinix, Inc. $EQIX

Spire Wealth Management trimmed its stake in Equinix, Inc. (NASDAQ:EQIX) by 86.5% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 121 shares of the financial services provider’s stock after selling 775 shares during the period. Spire Wealth Management’s holdings in Equinix were worth $95,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. Westside Investment Management Inc. raised 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 purchasing an additional 21 shares during the period. Atlantic Union Bankshares Corp acquired a new stake in shares of Equinix in the second quarter valued at $26,000. Bank of Jackson Hole Trust raised 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 valued at $27,000 after buying an additional 14 shares during the period. Abound Wealth Management lifted its stake in Equinix by 209.1% during 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 in the last quarter. Finally, Clal Insurance Enterprises Holdings Ltd purchased a new position in Equinix during the 2nd quarter valued at about $28,000. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Cowen reiterated a “buy” rating on shares of Equinix in a research note on Thursday, October 30th. Truist Financial lifted their price objective on shares of Equinix from $961.00 to $973.00 and gave the company a “buy” rating in a report on Tuesday, November 18th. BMO Capital Markets upgraded shares of Equinix from a “market perform” rating to an “outperform” rating and set a $900.00 target price on the stock in a report on Wednesday, December 3rd. Wall Street Zen cut shares of Equinix from a “hold” rating to a “sell” rating in a research report on Saturday. Finally, The Goldman Sachs Group downgraded shares of Equinix from a “buy” rating to a “neutral” rating and set a $795.00 price target for the company. in a research note on Thursday, December 18th. Four equities research analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $955.19.

Equinix Stock Up 2.2%

EQIX opened at $801.31 on Wednesday. The business has a 50 day moving average price of $767.48 and a two-hundred day moving average price of $782.35. Equinix, Inc. has a 52 week low of $701.41 and a 52 week high of $953.41. The company has a market cap of $78.68 billion, a PE ratio of 73.38, a P/E/G ratio of 1.23 and a beta of 1.05. 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 (NASDAQ:EQIX) last released its quarterly earnings results on Wednesday, October 29th. The financial services provider reported $9.83 EPS for the quarter, topping the consensus estimate of $9.27 by $0.56. Equinix had a return on equity of 7.70% and a net margin of 11.82%.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 earned $9.05 earnings per share. The company’s quarterly revenue was up 5.2% compared to the same quarter last year. Equinix has set its FY 2025 guidance at 37.950-38.77 EPS. As a group, research analysts anticipate that Equinix, Inc. will post 33.1 EPS for the current year.

Equinix Announces Dividend

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

Insider Buying and Selling

In other Equinix news, Director Christopher B. Paisley sold 50 shares of Equinix stock in a transaction that occurred on Tuesday, November 18th. The stock was sold at an average price of $777.58, for a total value of $38,879.00. Following the sale, the director owned 17,782 shares of the company’s stock, valued at approximately $13,826,927.56. The trade was a 0.28% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Adaire Fox-Martin sold 2,894 shares of the business’s stock in a transaction that occurred on Tuesday, December 2nd. The stock was sold at an average price of $731.09, for a total value of $2,115,774.46. Following the transaction, the chief executive officer owned 12,366 shares in the company, valued at $9,040,658.94. The trade was a 18.96% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 8,704 shares of company stock worth $6,617,748. 0.27% of the stock is currently owned by insiders.

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.