Ritholtz Wealth Management Has $1.53 Million Stake in Equinix, Inc. $EQIX

Ritholtz Wealth Management increased its stake in shares of Equinix, Inc. (NASDAQ:EQIX) by 116.2% during the first quarter, HoldingsChannel reports. The institutional investor owned 1,559 shares of the financial services provider’s stock after buying an additional 838 shares during the quarter. Ritholtz Wealth Management’s holdings in Equinix were worth $1,528,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in EQIX. Vanguard Group Inc. grew its holdings in shares of Equinix by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 13,398,906 shares of the financial services provider’s stock worth $10,265,706,000 after purchasing an additional 107,227 shares in the last quarter. Cohen & Steers Inc. lifted its position in Equinix by 23.3% during the fourth quarter. Cohen & Steers Inc. now owns 2,609,011 shares of the financial services provider’s stock worth $1,998,978,000 after purchasing an additional 493,141 shares during the period. Geode Capital Management LLC lifted its position in Equinix by 1.0% during the fourth quarter. Geode Capital Management LLC now owns 2,567,830 shares of the financial services provider’s stock worth $1,959,731,000 after purchasing an additional 25,383 shares during the period. Northern Trust Corp grew its stake in Equinix by 0.6% during the fourth quarter. Northern Trust Corp now owns 1,500,506 shares of the financial services provider’s stock worth $1,149,628,000 after buying an additional 9,614 shares in the last quarter. Finally, Norges Bank bought a new position in Equinix in the 4th quarter valued at about $984,355,000. 94.94% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Equinix

In other Equinix news, insider Brandi Galvin Morandi sold 3,726 shares of the company’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 value of $4,010,517.36. Following the completion of the transaction, the insider directly owned 6,132 shares in the company, valued at approximately $6,600,239.52. This represents a 37.80% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Chairman Charles J. Meyers sold 5,224 shares of the firm’s stock in a transaction on Wednesday, May 6th. The shares were sold at an average price of $1,085.23, for a total transaction of $5,669,241.52. Following the transaction, the chairman directly owned 7,370 shares of the company’s stock, valued at $7,998,145.10. The trade was a 41.48% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 11,539 shares of company stock valued at $12,455,054. 0.27% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. The Goldman Sachs Group boosted their target price on shares of Equinix from $894.00 to $1,015.00 and gave the company a “neutral” rating in a research report on Thursday, April 30th. Wall Street Zen raised shares of Equinix from a “sell” rating to a “hold” rating in a research note on Saturday, May 2nd. Scotiabank boosted their price objective on shares of Equinix from $1,050.00 to $1,120.00 and gave the company a “sector perform” rating in a research report on Thursday, April 30th. Truist Financial set a $1,215.00 target price on Equinix in a research note on Friday, May 1st. Finally, Guggenheim reaffirmed a “buy” rating and issued a $1,235.00 target price on shares of Equinix in a report on Wednesday, May 20th. Three equities research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, Equinix currently has an average rating of “Moderate Buy” and an average price target of $1,151.67.

Equinix Price Performance

Equinix stock opened at $1,091.30 on Friday. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 1.39. The company has a market capitalization of $107.62 billion, a PE ratio of 75.52, a P/E/G ratio of 2.03 and a beta of 0.99. Equinix, Inc. has a 12 month low of $720.62 and a 12 month high of $1,128.68. The stock has a 50-day moving average price of $1,079.57 and a two-hundred day moving average price of $948.17.

Equinix (NASDAQ:EQIX) last released its quarterly earnings results on Wednesday, April 29th. The financial services provider reported $10.79 earnings per share for the quarter, topping the consensus estimate of $4.30 by $6.49. The company had revenue of $2.44 billion for the quarter, compared to analysts’ expectations of $2.52 billion. Equinix had a return on equity of 10.03% and a net margin of 15.07%.The business’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same period in the previous year, the business posted $9.67 earnings per share. Equinix has set its FY 2026 guidance at 42.310-43.110 EPS. Analysts expect that Equinix, Inc. will post 38.26 EPS for the current year.

Equinix Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 17th. Investors of record on Wednesday, May 20th were given a dividend of $5.16 per share. The ex-dividend date was Wednesday, May 20th. This represents a $20.64 annualized dividend and a yield of 1.9%. Equinix’s dividend payout ratio (DPR) is currently 142.84%.

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.