Oppenheimer Asset Management Inc. Invests $3.64 Million in Equinix, Inc. $EQIX

Oppenheimer Asset Management Inc. bought a new stake in Equinix, Inc. (NASDAQ:EQIX) in the second quarter, HoldingsChannel.com reports. The fund bought 3,494 shares of the financial services provider’s stock, valued at approximately $3,642,000.

A number of other hedge funds also recently bought and sold shares of the business. Vanguard Group Inc. increased its stake in Equinix by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 13,398,906 shares of the financial services provider’s stock worth $10,265,706,000 after acquiring an additional 107,227 shares during the last quarter. Cohen & Steers Inc. lifted its stake in shares of Equinix by 23.3% in the 4th quarter. Cohen & Steers Inc. now owns 2,609,011 shares of the financial services provider’s stock valued at $1,998,978,000 after purchasing an additional 493,141 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Equinix by 1.0% in the 4th 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. Principal Financial Group Inc. boosted its holdings in shares of Equinix by 1.4% in the 1st quarter. Principal Financial Group Inc. now owns 1,980,497 shares of the financial services provider’s stock worth $1,941,377,000 after purchasing an additional 27,643 shares during the period. Finally, Northern Trust Corp increased its position in shares of Equinix by 0.6% during the 4th quarter. Northern Trust Corp now owns 1,500,506 shares of the financial services provider’s stock valued at $1,149,628,000 after purchasing an additional 9,614 shares during the last quarter. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. The Goldman Sachs Group increased their price target on Equinix from $894.00 to $1,015.00 and gave the company a “neutral” rating in a report on Thursday, April 30th. Oppenheimer reaffirmed an “outperform” rating and set a $1,200.00 price objective on shares of Equinix in a research note on Thursday, April 30th. Royal Bank Of Canada boosted their price objective on shares of Equinix from $1,125.00 to $1,225.00 and gave the company an “outperform” rating in a research report on Wednesday, August 5th. Guggenheim restated a “buy” rating and issued a $1,235.00 target price on shares of Equinix in a report on Wednesday, May 20th. Finally, Scotiabank reaffirmed a “sector perform” rating and set a $1,208.00 price target on shares of Equinix in a research note on Thursday, July 30th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $1,202.20.

Equinix Stock Performance

EQIX stock opened at $1,102.10 on Friday. Equinix, Inc. has a twelve month low of $720.62 and a twelve month high of $1,128.68. The firm has a market cap of $108.75 billion, a price-to-earnings ratio of 70.97, a PEG ratio of 1.56 and a beta of 0.99. The business’s fifty day simple moving average is $1,049.70 and its two-hundred day simple moving average is $1,013.19. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 1.44.

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

Equinix Dividend Announcement

The business 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 currently 132.90%.

Insider Activity at Equinix

In related news, insider Brandi Galvin Morandi sold 3,726 shares of the stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $1,076.36, for a total value 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 represents a 37.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Raouf Abdel sold 2,040 shares of the firm’s stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $1,083.47, for a total value of $2,210,278.80. Following the transaction, the executive vice president owned 5,728 shares in the company, valued at $6,206,116.16. The trade was 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 9,891 shares of company stock worth $10,430,452. Company insiders own 0.27% of the company’s stock.

Equinix Company 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.