Equinix, Inc. $EQIX Shares Purchased by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. raised its position in Equinix, Inc. (NASDAQ:EQIX) by 1.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 544,462 shares of the financial services provider’s stock after buying an additional 7,409 shares during the period. Sumitomo Mitsui Trust Group Inc. owned approximately 0.56% of Equinix worth $426,444,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in EQIX. Vanguard Group Inc. boosted its position in Equinix by 1.7% during the 2nd quarter. Vanguard Group Inc. now owns 13,129,041 shares of the financial services provider’s stock valued at $10,443,758,000 after purchasing an additional 222,221 shares during the period. Valeo Financial Advisors LLC raised its position in Equinix by 298,148.6% in the second quarter. Valeo Financial Advisors LLC now owns 8,157,100 shares of the financial services provider’s stock worth $6,488,728,000 after acquiring an additional 8,154,365 shares in the last quarter. State Street Corp increased its stake in Equinix by 3.7% in the 2nd quarter. State Street Corp now owns 6,249,780 shares of the financial services provider’s stock worth $4,971,512,000 after purchasing an additional 220,981 shares in the last quarter. Norges Bank purchased a new stake in shares of Equinix in the second quarter valued at $892,431,000. Finally, Canada Pension Plan Investment Board grew its position in Equinix by 3.7% during the second quarter. Canada Pension Plan Investment Board now owns 1,102,423 shares of the financial services provider’s stock valued at $876,944,000 after purchasing an additional 38,936 shares in the last quarter. Institutional investors own 94.94% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on EQIX. JPMorgan Chase & Co. lifted their target price on shares of Equinix from $940.00 to $950.00 and gave the stock an “overweight” rating in a report on Thursday, October 30th. BMO Capital Markets upgraded shares of Equinix from a “market perform” rating to an “outperform” rating and set a $900.00 price target for the company in a research report on Wednesday, December 3rd. Truist Financial raised their price target on Equinix from $961.00 to $973.00 and gave the stock a “buy” rating in a research report on Tuesday, November 18th. Citigroup restated a “buy” rating on shares of Equinix in a report on Thursday, December 11th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Equinix in a report on Wednesday, October 8th. Four equities research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $952.05.

Equinix Trading Up 2.4%

NASDAQ:EQIX opened at $800.35 on Monday. Equinix, Inc. has a 52 week low of $701.41 and a 52 week high of $953.41. The firm has a 50-day moving average price of $769.03 and a two-hundred day moving average price of $781.96. 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 firm has a market cap of $78.59 billion, a price-to-earnings ratio of 73.29, a price-to-earnings-growth ratio of 1.25 and a beta of 1.05.

Equinix (NASDAQ:EQIX) last released its quarterly earnings data on Wednesday, October 29th. The financial services provider reported $9.83 EPS for the quarter, topping the consensus estimate of $9.27 by $0.56. Equinix had a net margin of 11.82% and a return on equity of 7.70%. The company had revenue of $2.32 billion during the quarter, compared to the consensus estimate of $2.33 billion. During the same period last year, the firm earned $9.05 EPS. Equinix’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. On average, equities analysts expect that Equinix, Inc. will post 33.1 earnings per share for the current fiscal year.

Equinix Dividend Announcement

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

Insiders Place Their Bets

In related news, CEO Adaire Fox-Martin sold 2,894 shares of the company’s stock in a transaction on Tuesday, December 2nd. The shares were sold at an average price of $731.09, for a total transaction of $2,115,774.46. Following the completion of the transaction, the chief executive officer owned 12,366 shares in the company, valued at approximately $9,040,658.94. This represents a 18.96% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through 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 transaction of $90,666.32. Following the completion of the sale, the insider owned 8,299 shares in the company, valued at approximately $6,068,062.82. This represents a 1.47% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 8,704 shares of company stock valued at $6,617,748. 0.27% of the stock is currently owned by company insiders.

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.