Stoneridge Investment Partners LLC Has $1.40 Million Stock Position in Equinix, Inc. $EQIX

Stoneridge Investment Partners LLC grew its stake in shares of Equinix, Inc. (NASDAQ:EQIX) by 186.4% in the 3rd quarter, HoldingsChannel reports. The fund owned 1,787 shares of the financial services provider’s stock after purchasing an additional 1,163 shares during the quarter. Stoneridge Investment Partners LLC’s holdings in Equinix were worth $1,400,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently made changes to their positions in the company. PFG Investments LLC increased its stake in shares of Equinix by 14.4% during the third quarter. PFG Investments LLC now owns 1,274 shares of the financial services provider’s stock worth $998,000 after purchasing an additional 160 shares during the period. Resona Asset Management Co. Ltd. boosted its stake in Equinix by 6.2% in the 3rd quarter. Resona Asset Management Co. Ltd. now owns 59,497 shares of the financial services provider’s stock valued at $46,532,000 after purchasing an additional 3,475 shares during the period. Mitsubishi UFJ Trust & Banking Corp grew its holdings in Equinix by 60.2% in the 3rd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 146,228 shares of the financial services provider’s stock valued at $114,532,000 after buying an additional 54,929 shares in the last quarter. Envestnet Portfolio Solutions Inc. increased its position in Equinix by 0.7% during the 3rd quarter. Envestnet Portfolio Solutions Inc. now owns 7,053 shares of the financial services provider’s stock worth $5,524,000 after buying an additional 51 shares during the period. Finally, UNIVEST FINANCIAL Corp increased its position in Equinix by 15.4% during the 3rd quarter. UNIVEST FINANCIAL Corp now owns 6,094 shares of the financial services provider’s stock worth $4,773,000 after buying an additional 815 shares during the period. Institutional investors own 94.94% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Truist Financial upped their price target on shares of Equinix from $961.00 to $973.00 and gave the company a “buy” rating in a research note on Tuesday, November 18th. Citigroup restated a “buy” rating on shares of Equinix in a research report on Thursday, December 11th. Wall Street Zen cut shares of Equinix from a “hold” rating to a “sell” rating in a report on Saturday, January 10th. Weiss Ratings reissued a “hold (c)” rating on shares of Equinix in a research report on Thursday. Finally, UBS Group set a $959.00 price objective on Equinix in a report on Wednesday, January 14th. Four analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, Equinix has an average rating of “Moderate Buy” and a consensus price target of $959.64.

Insider Buying and Selling at Equinix

In related news, insider Kurt Pletcher sold 596 shares of the firm’s stock in a transaction dated Friday, January 16th. The stock was sold at an average price of $801.78, for a total value of $477,860.88. Following the sale, the insider directly owned 3,195 shares of the company’s stock, valued at $2,561,687.10. This trade represents a 15.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Chairman Charles J. Meyers sold 2,094 shares of the business’s stock in a transaction dated Friday, January 16th. The stock was sold at an average price of $804.14, for a total value of $1,683,869.16. Following the transaction, the chairman directly owned 13,253 shares of the company’s stock, valued at approximately $10,657,267.42. The trade was a 13.64% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 19,590 shares of company stock worth $15,366,046 over the last quarter. 0.27% of the stock is currently owned by company insiders.

Equinix Stock Performance

NASDAQ EQIX opened at $791.27 on Friday. The firm’s 50 day simple moving average is $764.83 and its 200 day simple moving average is $782.91. The firm has a market capitalization of $77.69 billion, a price-to-earnings ratio of 72.46, a P/E/G ratio of 1.24 and a beta of 1.05. 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, Inc. has a 1 year low of $701.41 and a 1 year high of $953.41.

Equinix (NASDAQ:EQIX) last announced its quarterly earnings data on Wednesday, October 29th. The financial services provider reported $9.83 EPS for the quarter, beating the consensus estimate of $9.27 by $0.56. Equinix had a net margin of 11.82% and a return on equity of 7.70%. The business had revenue of $2.32 billion during the quarter, compared to the consensus estimate of $2.33 billion. During the same period in the previous year, the business earned $9.05 earnings per share. The company’s revenue was up 5.2% on a year-over-year basis. Equinix has set its FY 2025 guidance at 37.950-38.77 EPS. As a group, research analysts expect that Equinix, Inc. will post 33.1 earnings per share for the current fiscal year.

Equinix Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 17th. Investors of record on Wednesday, November 19th were given a dividend of $4.69 per share. This represents a $18.76 annualized dividend and a dividend yield of 2.4%. The ex-dividend date was Wednesday, November 19th. Equinix’s dividend payout ratio is currently 171.79%.

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.