Davis R M Inc. Sells 675 Shares of Equinix, Inc. $EQIX

Davis R M Inc. reduced its holdings in Equinix, Inc. (NASDAQ:EQIX) by 2.3% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 29,198 shares of the financial services provider’s stock after selling 675 shares during the period. Davis R M Inc.’s holdings in Equinix were worth $28,622,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the business. SJS Investment Consulting Inc. raised its position in shares of Equinix by 27.3% during the 1st quarter. SJS Investment Consulting Inc. now owns 42 shares of the financial services provider’s stock valued at $41,000 after buying an additional 9 shares in the last quarter. Avion Wealth grew its position in Equinix by 73.3% in the first quarter. Avion Wealth now owns 26 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 11 shares in the last quarter. Blue Trust Inc. grew its position in Equinix by 1.3% in the first quarter. Blue Trust Inc. now owns 931 shares of the financial services provider’s stock worth $912,000 after acquiring an additional 12 shares in the last quarter. Cornerstone Planning Group LLC increased its stake in Equinix by 30.8% during the first quarter. Cornerstone Planning Group LLC now owns 51 shares of the financial services provider’s stock worth $54,000 after acquiring an additional 12 shares during the last quarter. Finally, Cary Street Partners Investment Advisory LLC increased its stake in Equinix by 2.7% during the fourth quarter. Cary Street Partners Investment Advisory LLC now owns 498 shares of the financial services provider’s stock worth $382,000 after acquiring an additional 13 shares during the last quarter. 94.94% of the stock is currently owned by institutional investors.

Insider Activity at Equinix

In related news, Chairman Charles J. Meyers sold 5,224 shares of Equinix stock in a transaction dated 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 completion of the sale, the chairman owned 7,370 shares in the company, valued at $7,998,145.10. This trade represents a 41.48% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Raouf Abdel sold 2,040 shares of the business’s stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $1,083.47, for a total transaction of $2,210,278.80. Following the completion of the sale, the executive vice president directly owned 5,728 shares of the company’s stock, valued at approximately $6,206,116.16. This trade represents a 26.26% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 11,115 shares of company stock worth $12,022,574. 0.27% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Barclays raised their price objective on Equinix from $1,109.00 to $1,130.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 1st. Morgan Stanley boosted their target price on Equinix from $1,075.00 to $1,250.00 and gave the company an “overweight” rating in a research report on Monday, April 13th. Zacks Research lowered Equinix from a “strong-buy” rating to a “hold” rating in a report on Friday, May 15th. Wall Street Zen upgraded Equinix from a “sell” rating to a “hold” rating in a research report on Saturday, May 2nd. Finally, HSBC lifted their price objective on shares of Equinix from $1,100.00 to $1,250.00 and gave the stock a “buy” rating in a research note on Monday, April 27th. Three investment analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $1,153.79.

Equinix Price Performance

EQIX opened at $1,028.74 on Thursday. The business has a fifty day moving average of $1,057.27 and a 200 day moving average of $983.75. The stock has a market cap of $101.45 billion, a P/E ratio of 71.19, a PEG ratio of 1.91 and a beta of 0.98. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 1.39. Equinix, Inc. has a 52-week low of $720.62 and a 52-week high of $1,128.68.

Equinix (NASDAQ:EQIX) last released its earnings results on Wednesday, April 29th. The financial services provider reported $10.79 earnings per share for the quarter, topping analysts’ consensus estimates of $4.30 by $6.49. Equinix had a return on equity of 10.03% and a net margin of 15.07%.The business had revenue of $2.44 billion for the quarter, compared to analyst estimates of $2.52 billion. During the same quarter last year, the firm posted $9.67 earnings per share. 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, sell-side analysts anticipate that Equinix, Inc. will post 38.25 EPS for the current year.

Equinix Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 17th. Investors of record on Wednesday, May 20th were paid a $5.16 dividend. This represents a $20.64 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend was Wednesday, May 20th. 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.