JPMorgan Chase & Co. Has $1.68 Billion Position in Equinix, Inc. $EQIX

JPMorgan Chase & Co. lessened its stake in shares of Equinix, Inc. (NASDAQ:EQIX) by 23.7% during the fourth quarter, Holdings Channel reports. The fund owned 2,193,256 shares of the financial services provider’s stock after selling 682,099 shares during the quarter. JPMorgan Chase & Co.’s holdings in Equinix were worth $1,680,387,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Brighton Jones LLC increased its stake in Equinix by 28.9% during the 4th quarter. Brighton Jones LLC now owns 326 shares of the financial services provider’s stock valued at $307,000 after purchasing an additional 73 shares in the last quarter. Integrated Wealth Concepts LLC lifted its stake in shares of Equinix by 11.5% in the first quarter. Integrated Wealth Concepts LLC now owns 522 shares of the financial services provider’s stock valued at $425,000 after buying an additional 54 shares in the last quarter. Empowered Funds LLC grew its holdings in shares of Equinix by 21.8% during the first quarter. Empowered Funds LLC now owns 3,050 shares of the financial services provider’s stock valued at $2,487,000 after buying an additional 546 shares during the last quarter. Schnieders Capital Management LLC. bought a new stake in shares of Equinix during the second quarter worth about $231,000. Finally, Brown Advisory Inc. increased its position in shares of Equinix by 2.8% during the second quarter. Brown Advisory Inc. now owns 1,074 shares of the financial services provider’s stock worth $854,000 after acquiring an additional 29 shares in the last quarter. Institutional investors and hedge funds own 94.94% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on EQIX. Guggenheim reissued a “buy” rating and set a $1,235.00 target price on shares of Equinix in a research report on Wednesday, May 20th. Sanford C. Bernstein began coverage on shares of Equinix in a research report on Thursday, March 5th. They set an “outperform” rating and a $1,128.00 target price for the company. Raymond James Financial raised 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 research report on Thursday, April 30th. Truist Financial set a $1,215.00 target price on shares of Equinix in a research report on Friday, May 1st. Finally, UBS Group boosted their target price on shares of Equinix from $950.00 to $1,010.00 and gave the stock a “buy” rating in a research report on Thursday, February 12th. Three 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 stock. According to MarketBeat.com, Equinix currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,143.60.

Equinix Stock Performance

NASDAQ EQIX opened at $1,062.74 on Tuesday. Equinix, Inc. has a 1 year low of $710.52 and a 1 year high of $1,128.68. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.18 and a quick ratio of 1.18. The firm has a market cap of $104.81 billion, a price-to-earnings ratio of 73.55, a PEG ratio of 2.03 and a beta of 0.99. The company has a fifty day moving average price of $1,060.35 and a 200-day moving average price of $916.55.

Equinix (NASDAQ:EQIX) last posted its earnings results on Wednesday, April 29th. The financial services provider reported $10.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.30 by $6.49. Equinix had a net margin of 15.07% and a return on equity of 10.03%. The firm had revenue of $2.44 billion during the quarter, compared to analyst estimates of $2.52 billion. During the same quarter in the prior year, the business posted $9.67 EPS. The business’s revenue was up 9.8% compared to the same quarter last year. Equinix has set its FY 2026 guidance at 42.310-43.110 EPS. As a group, equities research analysts predict that Equinix, Inc. will post 37.72 EPS for the current fiscal year.

Equinix Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 17th. Stockholders of record on Wednesday, May 20th will be paid a $5.16 dividend. The ex-dividend date is Wednesday, May 20th. This represents a $20.64 annualized dividend and a dividend yield of 1.9%. Equinix’s dividend payout ratio is presently 142.84%.

Insider Transactions at Equinix

In other news, Chairman Charles J. Meyers sold 5,224 shares of the company’s stock in a transaction on Wednesday, May 6th. The shares were sold at an average price of $1,085.23, for a total value of $5,669,241.52. Following the completion of the sale, the chairman owned 7,370 shares in the company, valued at $7,998,145.10. This represents a 41.48% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Brandi Galvin Morandi sold 3,726 shares of the company’s stock in a transaction on Monday, June 8th. The stock was sold at an average price of $1,076.36, for a total transaction of $4,010,517.36. Following the completion of the sale, the insider owned 6,132 shares of the company’s stock, valued at approximately $6,600,239.52. The trade was a 37.80% 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 14,779 shares of company stock worth $15,580,249. 0.27% of the stock is 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.