Oak Ridge Investments LLC Lowers Stock Holdings in Equinix, Inc. $EQIX

Oak Ridge Investments LLC cut its holdings in shares of Equinix, Inc. (NASDAQ:EQIX) by 96.7% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 274 shares of the financial services provider’s stock after selling 8,033 shares during the quarter. Oak Ridge Investments LLC’s holdings in Equinix were worth $215,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Valeo Financial Advisors LLC grew its position in shares of Equinix by 298,148.6% during the second quarter. Valeo Financial Advisors LLC now owns 8,157,100 shares of the financial services provider’s stock worth $6,488,728,000 after purchasing an additional 8,154,365 shares in the last quarter. Norges Bank purchased a new position in Equinix in the 2nd quarter worth approximately $892,431,000. Vanguard Group Inc. boosted its stake in Equinix by 1.7% in the 2nd quarter. Vanguard Group Inc. now owns 13,129,041 shares of the financial services provider’s stock worth $10,443,758,000 after purchasing an additional 222,221 shares during the period. State Street Corp grew its holdings in Equinix by 3.7% during the 2nd quarter. State Street Corp now owns 6,249,780 shares of the financial services provider’s stock valued at $4,971,512,000 after buying an additional 220,981 shares in the last quarter. Finally, ABN AMRO Bank N.V. bought a new stake in shares of Equinix during the second quarter valued at approximately $172,581,000. 94.94% of the stock is currently owned by hedge funds and other institutional investors.

Equinix Stock Performance

Shares of NASDAQ:EQIX opened at $801.78 on Monday. The firm has a fifty day simple moving average of $766.21 and a two-hundred day simple moving average of $782.46. Equinix, Inc. has a 52 week low of $701.41 and a 52 week high of $953.41. The company has a quick ratio of 1.62, a current ratio of 1.62 and a debt-to-equity ratio of 1.32. The stock has a market capitalization of $78.73 billion, a P/E ratio of 73.42, a PEG ratio of 1.25 and a beta of 1.05.

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

Equinix Dividend Announcement

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

Insider Activity

In other Equinix news, insider Jonathan Lin sold 124 shares of the business’s stock in a transaction on Tuesday, December 2nd. The shares were sold at an average price of $731.18, for a total transaction of $90,666.32. Following the transaction, the insider owned 8,299 shares in the company, valued at $6,068,062.82. The trade was a 1.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Adaire Fox-Martin sold 2,894 shares of the firm’s stock in a transaction dated Tuesday, December 2nd. The stock was sold at an average price of $731.09, for a total transaction of $2,115,774.46. Following the completion of the sale, the chief executive officer owned 12,366 shares of the company’s stock, valued at $9,040,658.94. This trade represents a 18.96% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 8,704 shares of company stock worth $6,617,748. Company insiders own 0.27% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Cowen restated a “buy” rating on shares of Equinix in a research report on Thursday, October 30th. JPMorgan Chase & Co. boosted their price target on shares of Equinix from $940.00 to $950.00 and gave the stock an “overweight” rating in a research note on Thursday, October 30th. Weiss Ratings restated a “hold (c)” rating on shares of Equinix in a research report on Wednesday, October 8th. Barclays reaffirmed a “positive” rating and issued a $870.00 target price on shares of Equinix in a report on Tuesday, January 13th. Finally, Scotiabank dropped their price target on Equinix from $965.00 to $959.00 and set a “sector outperform” rating for the company in a research note on Wednesday, January 14th. Four research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, Equinix presently has a consensus rating of “Moderate Buy” and an average price target of $959.64.

About Equinix

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.