Praxis Investment Management Inc. Acquires 866 Shares of Equinix, Inc. $EQIX

Praxis Investment Management Inc. lifted its holdings in shares of Equinix, Inc. (NASDAQ:EQIX) by 29.1% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,842 shares of the financial services provider’s stock after buying an additional 866 shares during the period. Praxis Investment Management Inc.’s holdings in Equinix were worth $3,766,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. Ameriflex Group Inc. lifted its holdings in shares of Equinix by 433.3% in the third quarter. Ameriflex Group Inc. now owns 32 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 26 shares during the last quarter. Physician Wealth Advisors Inc. grew its holdings in shares of Equinix by 266.7% during the 1st quarter. Physician Wealth Advisors Inc. now owns 33 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 24 shares during the last quarter. Kemnay Advisory Services Inc. acquired a new position in Equinix during the 4th quarter worth approximately $30,000. Princeton Global Asset Management LLC increased its position in Equinix by 200.0% during the 4th quarter. Princeton Global Asset Management LLC now owns 42 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 28 shares in the last quarter. Finally, SJS Investment Consulting Inc. lifted its stake in Equinix by 27.3% in the 1st quarter. SJS Investment Consulting Inc. now owns 42 shares of the financial services provider’s stock valued at $41,000 after purchasing an additional 9 shares during the last quarter. 94.94% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Equinix

In other Equinix news, Director Christopher B. Paisley sold 125 shares of the business’s stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $1,060.29, for a total transaction of $132,536.25. Following the completion of the sale, the director directly owned 17,557 shares of the company’s stock, valued at approximately $18,615,511.53. The trade was a 0.71% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Raouf Abdel sold 2,040 shares of the stock in a transaction that occurred 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 directly owned 5,728 shares of the company’s stock, valued at approximately $6,206,116.16. This trade represents a 26.26% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 11,539 shares of company stock valued at $12,455,054 over the last three months. Corporate insiders own 0.27% of the company’s stock.

Equinix Price Performance

Shares of NASDAQ:EQIX opened at $1,002.02 on Friday. The company has a debt-to-equity ratio of 1.39, a quick ratio of 1.18 and a current ratio of 1.18. Equinix, Inc. has a 52-week low of $720.62 and a 52-week high of $1,128.68. The business’s 50 day simple moving average is $1,073.27 and its two-hundred day simple moving average is $958.14. The firm has a market cap of $98.82 billion, a P/E ratio of 69.34, a PEG ratio of 1.86 and a beta of 0.98.

Equinix (NASDAQ:EQIX) last released its quarterly earnings data on Wednesday, April 29th. The financial services provider reported $10.79 EPS for the quarter, beating the consensus estimate of $4.30 by $6.49. Equinix had a return on equity of 10.03% and a net margin of 15.07%.The firm had revenue of $2.44 billion during the quarter, compared to the consensus estimate of $2.52 billion. During the same quarter in the previous year, the company posted $9.67 earnings per share. The company’s quarterly revenue was up 9.8% on a year-over-year basis. Equinix has set its FY 2026 guidance at 42.310-43.110 EPS. As a group, research analysts forecast that Equinix, Inc. will post 38.26 EPS for the current fiscal year.

Equinix Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 17th. Shareholders of record on Wednesday, May 20th were paid a $5.16 dividend. This represents a $20.64 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend was Wednesday, May 20th. Equinix’s dividend payout ratio (DPR) is 142.84%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Morgan Stanley boosted their target price on shares of Equinix from $1,075.00 to $1,250.00 and gave the stock an “overweight” rating in a research note on Monday, April 13th. Wells Fargo & Company boosted their price objective on Equinix from $975.00 to $1,200.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 21st. Mizuho upped their target price on Equinix from $1,165.00 to $1,200.00 and gave the stock an “outperform” rating in a report on Thursday, May 7th. Oppenheimer reiterated an “outperform” rating and issued a $1,200.00 price objective on shares of Equinix in a report on Thursday, April 30th. Finally, Barclays raised their target price on Equinix from $1,109.00 to $1,130.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Three equities research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,153.38.

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.