Clearstead Trust LLC Buys Shares of 1,018 Equinix, Inc. $EQIX

Clearstead Trust LLC bought a new stake in shares of Equinix, Inc. (NASDAQ:EQIX) in the second quarter, HoldingsChannel.com reports. The firm bought 1,018 shares of the financial services provider’s stock, valued at approximately $1,061,000.

Several other institutional investors have also added to or reduced their stakes in EQIX. Brighton Jones LLC lifted its holdings in shares of Equinix by 28.9% in the fourth quarter. Brighton Jones LLC now owns 326 shares of the financial services provider’s stock worth $307,000 after buying an additional 73 shares in the last quarter. Integrated Wealth Concepts LLC lifted its position in shares of Equinix by 11.5% during the first quarter. Integrated Wealth Concepts LLC now owns 522 shares of the financial services provider’s stock worth $425,000 after purchasing an additional 54 shares during the last quarter. Empowered Funds LLC grew its stake in Equinix by 21.8% in the first quarter. Empowered Funds LLC now owns 3,050 shares of the financial services provider’s stock worth $2,487,000 after purchasing an additional 546 shares in the last quarter. Schnieders Capital Management LLC. bought a new position in Equinix during the 2nd quarter worth about $231,000. Finally, Brown Advisory Inc. lifted its stake in shares of Equinix by 2.8% during the 2nd quarter. Brown Advisory Inc. now owns 1,074 shares of the financial services provider’s stock worth $854,000 after purchasing an additional 29 shares during the last quarter. 94.94% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts recently weighed in on EQIX shares. UBS Group boosted their target price on Equinix from $1,210.00 to $1,265.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. Wells Fargo & Company raised their target price on shares of Equinix from $975.00 to $1,200.00 and gave the stock an “overweight” rating in a report on Tuesday, April 21st. Stifel Nicolaus raised their target price on Equinix from $1,250.00 to $1,265.00 and gave the company a “buy” rating in a research report on Thursday, July 30th. Guggenheim reiterated a “buy” rating and issued a $1,235.00 price objective on shares of Equinix in a report on Wednesday, May 20th. Finally, JPMorgan Chase & Co. raised their price objective on Equinix from $1,100.00 to $1,200.00 and gave the company an “overweight” rating in a report on Thursday, April 30th. Two analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Equinix currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,202.20.

Equinix Stock Performance

NASDAQ:EQIX opened at $1,102.10 on Friday. The business’s fifty day moving average price is $1,049.70 and its 200 day moving average price is $1,013.19. The firm has a market capitalization of $108.75 billion, a PE ratio of 70.97, a price-to-earnings-growth ratio of 1.56 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 company has a debt-to-equity ratio of 1.44, a current ratio of 1.13 and a quick ratio of 1.13.

Equinix (NASDAQ:EQIX) last announced its earnings results on Wednesday, July 29th. The financial services provider reported $11.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.73 by $7.05. Equinix had a net margin of 15.64% and a return on equity of 10.76%. The business had revenue of $2.62 billion for the quarter, compared to analyst estimates of $2.59 billion. During the same period last year, the firm posted $9.91 earnings per share. The company’s revenue for the quarter was up 16.4% compared to the same quarter last year. Equinix has set its FY 2026 guidance at 42.690-43.290 EPS. On average, sell-side analysts anticipate that Equinix, Inc. will post 38.23 earnings per share for the current fiscal year.

Equinix Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 16th. Stockholders of record on Wednesday, August 19th will be paid a dividend of $5.16 per share. This represents a $20.64 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend is Wednesday, August 19th. Equinix’s payout ratio is 132.90%.

Insider Buying and Selling

In related news, Director Christopher B. Paisley sold 4,000 shares of the stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $1,019.28, for a total value of $4,077,120.00. Following the sale, the director directly owned 13,859 shares of the company’s stock, valued at approximately $14,126,201.52. This represents a 22.40% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Brandi Galvin Morandi sold 3,726 shares of the firm’s stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $1,076.36, for a total transaction of $4,010,517.36. Following the transaction, the insider owned 6,132 shares of the company’s stock, valued at $6,600,239.52. This trade represents a 37.80% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 9,891 shares of company stock worth $10,430,452 in the last three months. Corporate insiders own 0.27% of the company’s stock.

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.