HighTower Advisors LLC Sells 4,352 Shares of Equinix, Inc. $EQIX

HighTower Advisors LLC decreased its position in Equinix, Inc. (NASDAQ:EQIX) by 17.2% in the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 20,947 shares of the financial services provider’s stock after selling 4,352 shares during the period. HighTower Advisors LLC’s holdings in Equinix were worth $21,835,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Moore Capital Management LP boosted its stake in shares of Equinix by 235.7% during the second quarter. Moore Capital Management LP now owns 7,675 shares of the financial services provider’s stock valued at $8,000,000 after purchasing an additional 5,389 shares in the last quarter. Empowered Funds LLC purchased a new position in Equinix during the second quarter valued at approximately $5,778,000. Bamco Inc. NY bought a new position in Equinix in the second quarter worth approximately $203,930,000. Legal & General Group Plc purchased a new stake in Equinix during the second quarter worth $1,181,260,000. Finally, Adelante Capital Management LLC purchased a new stake in Equinix during the second quarter worth $129,154,000. 94.94% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on EQIX shares. Royal Bank Of Canada boosted their price target on Equinix from $1,125.00 to $1,225.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 5th. HSBC reaffirmed a “buy” rating and set a $1,400.00 price objective on shares of Equinix in a research report on Friday, August 14th. Weiss Ratings upgraded Equinix from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, August 6th. Scotiabank reiterated a “sector perform” rating and issued a $1,208.00 target price on shares of Equinix in a report on Thursday, July 30th. Finally, Guggenheim reissued a “buy” rating and set a $1,235.00 price target on shares of Equinix in a research report on Wednesday, May 20th. Two analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, Equinix currently has an average rating of “Moderate Buy” and an average price target of $1,203.60.

Insider Activity

In other Equinix news, insider Michael Paladin sold 307 shares of the business’s stock in a transaction dated Friday, September 4th. The stock was sold at an average price of $1,035.01, for a total transaction of $317,748.07. Following the sale, the insider owned 2,450 shares in the company, valued at approximately $2,535,774.50. The trade was a 11.14% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Kurt Pletcher sold 135 shares of the firm’s stock in a transaction dated Thursday, August 20th. The stock was sold at an average price of $1,075.50, for a total value of $145,192.50. Following the completion of the transaction, the insider owned 4,077 shares of the company’s stock, valued at approximately $4,384,813.50. The trade was a 3.21% 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 4,770 shares of company stock valued at $4,884,197 over the last ninety days. 0.27% of the stock is currently owned by insiders.

Equinix Stock Up 0.5%

Shares of EQIX stock opened at $1,041.21 on Wednesday. The stock’s fifty day moving average price is $1,042.89 and its 200 day moving average price is $1,037.98. 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, Inc. has a 1-year low of $720.62 and a 1-year high of $1,128.68. The company has a market cap of $102.74 billion, a price-to-earnings ratio of 67.05, a price-to-earnings-growth ratio of 1.48 and a beta of 0.99.

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

Equinix Announces Dividend

The business also recently disclosed 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 2.0%. The ex-dividend date is Wednesday, August 19th. Equinix’s payout ratio is presently 132.90%.

Equinix Profile

Equinix, Inc is a global digital infrastructure company that operates data centers and provides interconnection and cloud connectivity services. Its facilities, known as International Business Exchange (IBX) data centers, enable businesses, cloud providers, network operators, financial institutions and other organizations to securely house technology infrastructure and exchange data.

The company’s Platform Equinix services include colocation, private and public cloud connectivity, network interconnection, managed infrastructure and digital services.