Park Avenue Securities LLC Invests $2.16 Million in Equinix, Inc. $EQIX

Park Avenue Securities LLC acquired a new stake in shares of Equinix, Inc. (NASDAQ:EQIX) during the third quarter, HoldingsChannel.com reports. The fund acquired 2,758 shares of the financial services provider’s stock, valued at approximately $2,160,000.

A number of other institutional investors have also made changes to their positions in EQIX. Westside Investment Management Inc. grew its holdings in Equinix by 190.9% during the second quarter. Westside Investment Management Inc. now owns 32 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 21 shares during the last quarter. Atlantic Union Bankshares Corp acquired a new stake in shares of Equinix in the second quarter worth $26,000. Bank of Jackson Hole Trust grew its stake in Equinix by 70.0% in the 2nd quarter. Bank of Jackson Hole Trust now owns 34 shares of the financial services provider’s stock valued at $27,000 after buying an additional 14 shares during the last quarter. Abound Wealth Management grew its stake in Equinix by 209.1% in 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 during the last quarter. Finally, Clal Insurance Enterprises Holdings Ltd bought a new position in Equinix in the 2nd quarter worth $28,000. 94.94% of the stock is owned by institutional investors.

Equinix Stock Up 2.4%

Shares of NASDAQ EQIX opened at $800.35 on Friday. Equinix, Inc. has a 52-week low of $701.41 and a 52-week high of $953.41. The company has a debt-to-equity ratio of 1.32, a quick ratio of 1.62 and a current ratio of 1.62. The business has a fifty day moving average of $769.03 and a two-hundred day moving average of $782.26. The stock has a market cap of $78.58 billion, a PE ratio of 73.29, a PEG ratio of 1.25 and a beta of 1.05.

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

Equinix Dividend Announcement

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

Insider Buying and Selling

In related news, Chairman Charles J. Meyers sold 5,087 shares of the firm’s stock in a transaction on Monday, November 17th. The stock was sold at an average price of $778.47, for a total transaction of $3,960,076.89. Following the completion of the sale, the chairman directly owned 10,426 shares of the company’s stock, valued at $8,116,328.22. This trade represents a 32.79% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Jonathan Lin sold 124 shares of Equinix stock in a transaction on Tuesday, December 2nd. The shares were sold at an average price of $731.18, for a total value of $90,666.32. Following the completion of the transaction, the insider owned 8,299 shares of the company’s stock, valued at approximately $6,068,062.82. The trade was a 1.47% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 8,704 shares of company stock valued at $6,617,748 in the last ninety days. 0.27% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on EQIX. Zacks Research cut shares of Equinix from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 19th. Wall Street Zen lowered Equinix from a “hold” rating to a “sell” rating in a report on Saturday. JPMorgan Chase & Co. lifted their price target on Equinix from $940.00 to $950.00 and gave the stock an “overweight” rating in a research report on Thursday, October 30th. The Goldman Sachs Group downgraded shares of Equinix from a “buy” rating to a “neutral” rating and set a $795.00 price objective on the stock. in a research note on Thursday, December 18th. Finally, BMO Capital Markets raised Equinix from a “market perform” rating to an “outperform” rating and set a $900.00 target price on the stock in a research report on Wednesday, December 3rd. Four research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $952.05.

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.