Smithbridge Asset Management Inc. DE Cuts Stock Holdings in Equinix, Inc. $EQIX

Smithbridge Asset Management Inc. DE trimmed its stake in Equinix, Inc. (NASDAQ:EQIX) by 53.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 534 shares of the financial services provider’s stock after selling 614 shares during the period. Smithbridge Asset Management Inc. DE’s holdings in Equinix were worth $523,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Root Financial Partners LLC lifted its holdings in shares of Equinix by 419.0% during the 1st quarter. Root Financial Partners LLC now owns 109 shares of the financial services provider’s stock worth $107,000 after acquiring an additional 88 shares during the last quarter. USS Investment Management Ltd increased its stake in Equinix by 4.9% in the first quarter. USS Investment Management Ltd now owns 18,946 shares of the financial services provider’s stock valued at $18,569,000 after acquiring an additional 885 shares during the last quarter. IFM Investors Pty Ltd increased its stake in Equinix by 2.3% in the first quarter. IFM Investors Pty Ltd now owns 39,066 shares of the financial services provider’s stock valued at $38,294,000 after acquiring an additional 868 shares during the last quarter. Severin Investments LLC purchased a new stake in Equinix during the first quarter valued at about $371,000. Finally, Wendell David Associates Inc. raised its position in Equinix by 1.3% during the first quarter. Wendell David Associates Inc. now owns 4,202 shares of the financial services provider’s stock valued at $4,119,000 after purchasing an additional 55 shares in the last quarter. 94.94% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Brandi Galvin Morandi sold 3,726 shares of the firm’s stock in a transaction that occurred on Monday, June 8th. The shares were 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 in the company, valued at approximately $6,600,239.52. This trade 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 accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Christopher B. Paisley sold 125 shares of the company’s stock in a transaction on Monday, May 18th. The shares were sold at an average price of $1,060.29, for a total transaction of $132,536.25. Following the sale, the director owned 17,557 shares of the company’s stock, valued at $18,615,511.53. This represents a 0.71% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 11,539 shares of company stock worth $12,455,054 over the last ninety days. Company insiders own 0.27% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on EQIX shares. Scotiabank upped their price objective on Equinix from $1,050.00 to $1,120.00 and gave the stock a “sector perform” rating in a report on Thursday, April 30th. Wells Fargo & Company raised their price objective on Equinix from $975.00 to $1,200.00 and gave the company an “overweight” rating in a report on Tuesday, April 21st. Cantor Fitzgerald boosted their target price on Equinix from $1,173.00 to $1,186.00 and gave the stock an “overweight” rating in a research report on Friday, May 1st. Oppenheimer reaffirmed an “outperform” rating and issued a $1,200.00 target price on shares of Equinix in a research note on Thursday, April 30th. Finally, Evercore reiterated an “outperform” rating and set a $1,240.00 price target on shares of Equinix in a research report on Tuesday, April 28th. Three analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Equinix currently has an average rating of “Moderate Buy” and a consensus target price of $1,153.38.

Equinix Stock Down 1.1%

EQIX opened at $1,002.02 on Friday. Equinix, Inc. has a 12 month low of $720.62 and a 12 month high of $1,128.68. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 1.39. The business’s 50-day moving average price is $1,075.27 and its 200-day moving average price is $957.83. The company has a market cap of $98.82 billion, a P/E ratio of 69.34, a P/E/G ratio of 1.88 and a beta of 0.98.

Equinix (NASDAQ:EQIX) last issued its earnings results on Wednesday, April 29th. The financial services provider reported $10.79 earnings per share for the quarter, beating the consensus estimate of $4.30 by $6.49. Equinix had a return on equity of 10.03% and a net margin of 15.07%.The company had revenue of $2.44 billion during the quarter, compared to analysts’ expectations of $2.52 billion. During the same period in the prior year, the business posted $9.67 EPS. Equinix’s quarterly 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. On average, equities analysts expect that Equinix, Inc. will post 38.26 EPS for the current year.

Equinix Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 17th. Stockholders of record on Wednesday, May 20th were paid a dividend of $5.16 per share. This represents a $20.64 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend was Wednesday, May 20th. Equinix’s dividend payout ratio is 142.84%.

Equinix 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.