Equinix, Inc. $EQIX Position Lessened by Red Cedar Investment Management LLC

Red Cedar Investment Management LLC cut its position in Equinix, Inc. (NASDAQ:EQIX) by 60.8% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 764 shares of the financial services provider’s stock after selling 1,184 shares during the quarter. Red Cedar Investment Management LLC’s holdings in Equinix were worth $598,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of EQIX. Valeo Financial Advisors LLC lifted 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 purchasing an additional 8,154,365 shares during the period. Norges Bank acquired a new position in Equinix in the 2nd quarter worth about $892,431,000. Vanguard Group Inc. raised its stake in shares of Equinix by 1.7% during the 2nd quarter. Vanguard Group Inc. now owns 13,129,041 shares of the financial services provider’s stock worth $10,443,758,000 after purchasing an additional 222,221 shares in the last quarter. State Street Corp lifted its holdings in shares of Equinix by 3.7% during the 2nd quarter. State Street Corp now owns 6,249,780 shares of the financial services provider’s stock valued at $4,971,512,000 after buying an additional 220,981 shares during the last quarter. Finally, ABN AMRO Bank N.V. bought a new stake in shares of Equinix in the 2nd quarter valued at approximately $172,581,000. Institutional investors own 94.94% of the company’s stock.

Equinix Stock Up 1.9%

Equinix stock opened at $806.35 on Tuesday. The company has a fifty day simple moving average of $765.42 and a 200 day simple moving average of $783.37. Equinix, Inc. has a 1-year low of $701.41 and a 1-year high of $953.41. The company has a current ratio of 1.62, a quick ratio of 1.62 and a debt-to-equity ratio of 1.32. The company has a market cap of $79.18 billion, a P/E ratio of 73.84, a price-to-earnings-growth ratio of 1.24 and a beta of 1.05.

Equinix (NASDAQ:EQIX) last issued its quarterly earnings data on Wednesday, October 29th. The financial services provider reported $9.83 EPS for the quarter, beating analysts’ consensus estimates of $9.27 by $0.56. The firm had revenue of $2.32 billion for the quarter, compared to analyst estimates of $2.33 billion. Equinix had a return on equity of 7.70% and a net margin of 11.82%.The company’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same period in the prior year, the firm posted $9.05 EPS. Equinix has set its FY 2025 guidance at 37.950-38.77 EPS. Research analysts anticipate that Equinix, Inc. will post 33.1 earnings per share for the current fiscal 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 given 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 171.79%.

Analyst Ratings Changes

EQIX has been the topic of several analyst reports. Scotiabank lowered their target price on shares of Equinix from $965.00 to $959.00 and set a “sector outperform” rating on the stock in a research report on Wednesday, January 14th. JPMorgan Chase & Co. upped their price target on Equinix from $940.00 to $950.00 and gave the company an “overweight” rating in a report on Thursday, October 30th. Weiss Ratings reissued a “hold (c)” rating on shares of Equinix in a report on Thursday. HSBC set a $1,050.00 price objective on Equinix and gave the company a “buy” rating in a report on Thursday, January 15th. Finally, Deutsche Bank Aktiengesellschaft set a $915.00 price target on shares of Equinix in a report on Tuesday, January 6th. Three analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $959.64.

Insider Buying and Selling at Equinix

In related news, Chairman Charles J. Meyers sold 5,087 shares of the company’s stock in a transaction that occurred on Monday, November 17th. The stock was sold at an average price of $778.47, for a total transaction of $3,960,076.89. Following the transaction, the chairman directly owned 10,426 shares of the company’s stock, valued at approximately $8,116,328.22. This represents a 32.79% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Keith D. Taylor sold 2,051 shares of the firm’s stock in a transaction dated Friday, January 16th. The shares were sold at an average price of $804.17, for a total transaction of $1,649,352.67. Following the completion of the transaction, the chief financial officer directly owned 26,373 shares in the company, valued at approximately $21,208,375.41. The trade was a 7.22% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 19,590 shares of company stock valued at $15,366,046 over the last 90 days. Insiders own 0.27% of the company’s stock.

About Equinix

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.