Vanguard Personalized Indexing Management LLC Sells 1,103 Shares of Equinix, Inc. $EQIX

Vanguard Personalized Indexing Management LLC lowered its position in Equinix, Inc. (NASDAQ:EQIX) by 9.1% in the 3rd quarter, Holdings Channel reports. The firm owned 11,010 shares of the financial services provider’s stock after selling 1,103 shares during the quarter. Vanguard Personalized Indexing Management LLC’s holdings in Equinix were worth $8,628,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Westside Investment Management Inc. raised its stake in shares of Equinix by 190.9% during the 2nd quarter. Westside Investment Management Inc. now owns 32 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 21 shares in the last quarter. Atlantic Union Bankshares Corp purchased a new stake in shares of Equinix during the 2nd quarter valued at $26,000. Bank of Jackson Hole Trust grew its stake in Equinix by 70.0% during the 2nd quarter. Bank of Jackson Hole Trust now owns 34 shares of the financial services provider’s stock worth $27,000 after buying an additional 14 shares during the last quarter. Abound Wealth Management increased its position in Equinix by 209.1% during the 3rd quarter. Abound Wealth Management now owns 34 shares of the financial services provider’s stock valued at $27,000 after buying an additional 23 shares in the last quarter. Finally, Clal Insurance Enterprises Holdings Ltd purchased a new stake in Equinix in the second quarter valued at about $28,000. 94.94% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Daiwa Capital Markets set a $917.00 price objective on shares of Equinix and gave the company an “outperform” rating in a report on Wednesday, October 22nd. TD Cowen reiterated a “buy” rating on shares of Equinix in a research note on Thursday, October 30th. Zacks Research downgraded Equinix from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 19th. BMO Capital Markets raised Equinix from a “market perform” rating to an “outperform” rating and set a $900.00 price target for the company in a research report on Wednesday, December 3rd. Finally, Truist Financial boosted their price objective on Equinix from $961.00 to $973.00 and gave the company a “buy” rating in a report on Tuesday, November 18th. Three analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $959.64.

Equinix Stock Performance

EQIX opened at $806.35 on Tuesday. The firm has a market capitalization of $79.18 billion, a PE ratio of 73.84, a PEG 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 twelve month low of $701.41 and a twelve month high of $953.41. The firm’s 50-day moving average price is $765.42 and its 200 day moving average price is $783.37.

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

Equinix Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 17th. Investors of record on Wednesday, November 19th were paid a dividend of $4.69 per share. This represents a $18.76 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend was Wednesday, November 19th. Equinix’s dividend payout ratio is presently 171.79%.

Insider Buying and Selling

In related news, EVP Raouf Abdel sold 927 shares of the firm’s stock in a transaction that occurred on Friday, January 16th. The shares were sold at an average price of $801.78, for a total value of $743,250.06. Following the sale, the executive vice president owned 7,337 shares of the company’s stock, valued at $5,882,659.86. This trade represents a 11.22% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Adaire Fox-Martin sold 2,894 shares of the stock in a transaction that occurred on Tuesday, December 2nd. The shares were 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 directly owned 12,366 shares in the company, valued at approximately $9,040,658.94. This represents a 18.96% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 19,590 shares of company stock worth $15,366,046 over the last three months. 0.27% of the stock is owned by insiders.

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.