Pallas Capital Advisors LLC Invests $705,000 in Equinix, Inc. $EQIX

Pallas Capital Advisors LLC bought a new position in Equinix, Inc. (NASDAQ:EQIX) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 676 shares of the financial services provider’s stock, valued at approximately $705,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of Equinix by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 13,398,906 shares of the financial services provider’s stock valued at $10,265,706,000 after acquiring an additional 107,227 shares during the period. Cohen & Steers Inc. grew its stake in shares of Equinix by 23.3% in the fourth quarter. Cohen & Steers Inc. now owns 2,609,011 shares of the financial services provider’s stock worth $1,998,978,000 after purchasing an additional 493,141 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Equinix by 1.0% in the fourth 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 last quarter. Principal Financial Group Inc. increased its holdings in Equinix by 1.4% during the 1st quarter. Principal Financial Group Inc. now owns 1,980,497 shares of the financial services provider’s stock valued at $1,941,377,000 after purchasing an additional 27,643 shares during the period. Finally, Northern Trust Corp increased its holdings in 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 period. 94.94% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Equinix

In related news, EVP Raouf Abdel sold 2,040 shares of Equinix 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 completion of the sale, the executive vice president owned 5,728 shares of the company’s stock, valued at $6,206,116.16. The trade was a 26.26% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Brandi Galvin Morandi sold 3,726 shares of the stock in a transaction dated 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 completion of the transaction, the insider directly owned 6,132 shares in the company, valued at approximately $6,600,239.52. This represents a 37.80% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 9,891 shares of company stock worth $10,435,864. Insiders own 0.27% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on EQIX. Mizuho increased their price objective on Equinix from $1,165.00 to $1,200.00 and gave the stock an “outperform” rating in a report on Thursday, May 7th. Barclays boosted their target price on Equinix from $1,109.00 to $1,130.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 1st. Royal Bank Of Canada raised their price target on Equinix from $1,125.00 to $1,225.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 5th. Truist Financial upped their target price on shares of Equinix from $1,215.00 to $1,220.00 and gave the stock a “buy” rating in a research note on Friday, July 31st. Finally, The Goldman Sachs Group increased their price target on shares of Equinix from $894.00 to $1,015.00 and gave the company a “neutral” rating in a report on Thursday, April 30th. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, Equinix presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,203.40.

Equinix Stock Performance

Shares of NASDAQ EQIX opened at $1,077.08 on Thursday. The firm’s 50-day moving average price is $1,051.68 and its 200-day moving average price is $1,020.34. Equinix, Inc. has a 52-week low of $720.62 and a 52-week high of $1,128.68. The company has a market cap of $106.28 billion, a PE ratio of 69.35, a PEG ratio of 1.54 and a beta of 0.99. 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 released its quarterly earnings data on Wednesday, July 29th. The financial services provider reported $11.78 earnings per share for the quarter, beating the consensus estimate of $4.73 by $7.05. The firm had revenue of $2.62 billion during 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 firm’s quarterly revenue was up 16.4% on a year-over-year basis. During the same period in the previous year, the company earned $9.91 earnings per share. Equinix has set its FY 2026 guidance at 42.690-43.290 EPS. As a group, analysts anticipate that Equinix, Inc. will post 38.23 EPS for the current year.

Equinix Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 16th. Shareholders of record on Wednesday, August 19th will be paid a dividend of $5.16 per share. The ex-dividend date is Wednesday, August 19th. This represents a $20.64 dividend on an annualized basis and a yield of 1.9%. Equinix’s payout ratio is currently 132.90%.

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.