Spire Wealth Management Decreases Stock Holdings in Equinix, Inc. $EQIX

Spire Wealth Management lowered its position in Equinix, Inc. (NASDAQ:EQIX) by 86.5% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 121 shares of the financial services provider’s stock after selling 775 shares during the period. Spire Wealth Management’s holdings in Equinix were worth $95,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the business. Quent Capital LLC grew its position in shares of Equinix by 4.8% in the second quarter. Quent Capital LLC now owns 286 shares of the financial services provider’s stock valued at $228,000 after purchasing an additional 13 shares during the last quarter. Whittier Trust Co. lifted its position in Equinix by 1.3% during the second quarter. Whittier Trust Co. now owns 1,040 shares of the financial services provider’s stock worth $827,000 after buying an additional 13 shares during the period. CVA Family Office LLC boosted its stake in Equinix by 10.9% in the 2nd quarter. CVA Family Office LLC now owns 132 shares of the financial services provider’s stock worth $105,000 after buying an additional 13 shares during the last quarter. Flputnam Investment Management Co. grew its holdings in Equinix by 1.0% in the 3rd quarter. Flputnam Investment Management Co. now owns 1,295 shares of the financial services provider’s stock valued at $1,014,000 after buying an additional 13 shares during the period. Finally, Bank of Jackson Hole Trust increased its stake in shares of Equinix by 70.0% during the 2nd quarter. Bank of Jackson Hole Trust now owns 34 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 14 shares during the last quarter. 94.94% of the stock is owned by institutional investors and hedge funds.

Equinix Stock Up 2.2%

Equinix stock opened at $801.31 on Wednesday. The company has a market capitalization of $78.68 billion, a PE ratio of 73.38, a price-to-earnings-growth ratio of 1.23 and a beta of 1.05. The company has a debt-to-equity ratio of 1.32, a quick ratio of 1.62 and a current ratio of 1.62. Equinix, Inc. has a fifty-two week low of $701.41 and a fifty-two week high of $953.41. The firm has a 50 day moving average price of $767.48 and a 200 day moving average price of $782.35.

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

Equinix Announces Dividend

The firm also recently disclosed 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 of this dividend was Wednesday, November 19th. This represents a $18.76 annualized dividend and a dividend yield of 2.3%. Equinix’s dividend payout ratio (DPR) is presently 171.79%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. The Goldman Sachs Group downgraded shares of Equinix from a “buy” rating to a “neutral” rating and set a $795.00 price target on the stock. in a research note on Thursday, December 18th. Cowen reaffirmed a “buy” rating on shares of Equinix in a research report on Thursday, October 30th. Weiss Ratings reissued a “hold (c)” rating on shares of Equinix in a research report on Wednesday, October 8th. Truist Financial raised their target price on shares of Equinix from $961.00 to $973.00 and gave the company a “buy” rating in a research note on Tuesday, November 18th. Finally, Deutsche Bank Aktiengesellschaft set a $915.00 price target on Equinix in a report on Tuesday, January 6th. Four research analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $955.19.

Insiders Place Their Bets

In other Equinix news, CEO Adaire Fox-Martin sold 2,894 shares of the business’s stock in a transaction on Tuesday, December 2nd. The shares were sold at an average price of $731.09, for a total value of $2,115,774.46. Following the completion of the transaction, the chief executive officer owned 12,366 shares in the company, valued at $9,040,658.94. The trade was a 18.96% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Kurt Pletcher sold 290 shares of the stock in a transaction on Tuesday, December 2nd. The shares were sold at an average price of $731.19, for a total value of $212,045.10. Following the completion of the sale, the insider owned 2,433 shares in the company, valued at approximately $1,778,985.27. The trade was a 10.65% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 8,704 shares of company stock valued at $6,617,748. 0.27% of the stock is owned by company insiders.

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.