Resona Asset Management Co. Ltd. Increases Stock Holdings in Equinix, Inc. $EQIX

Resona Asset Management Co. Ltd. boosted its holdings in Equinix, Inc. (NASDAQ:EQIX) by 3.6% in the 1st quarter, HoldingsChannel.com reports. The firm owned 59,519 shares of the financial services provider’s stock after buying an additional 2,073 shares during the quarter. Resona Asset Management Co. Ltd.’s holdings in Equinix were worth $57,594,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in EQIX. Norges Bank acquired a new position in shares of Equinix in the 4th quarter valued at $984,355,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Equinix by 408.1% during the 3rd quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,186,497 shares of the financial services provider’s stock valued at $929,312,000 after buying an additional 953,001 shares during the period. SG Americas Securities LLC increased its holdings in shares of Equinix by 377,167.4% during the 4th quarter. SG Americas Securities LLC now owns 716,808 shares of the financial services provider’s stock worth $549,190,000 after buying an additional 716,618 shares during the last quarter. Cohen & Steers Inc. raised its position in shares of Equinix by 23.3% in the 4th quarter. Cohen & Steers Inc. now owns 2,609,011 shares of the financial services provider’s stock worth $1,998,978,000 after buying an additional 493,141 shares during the period. Finally, Deutsche Bank AG raised its position in shares of Equinix by 30.0% in the 4th quarter. Deutsche Bank AG now owns 1,094,808 shares of the financial services provider’s stock worth $838,798,000 after buying an additional 252,964 shares during the period. 94.94% of the stock is currently owned by hedge funds and other institutional investors.

Equinix Stock Down 0.7%

Shares of Equinix stock opened at $1,015.97 on Thursday. Equinix, Inc. has a twelve month low of $720.62 and a twelve month high of $1,128.68. The stock has a market cap of $100.19 billion, a price-to-earnings ratio of 70.31, a price-to-earnings-growth ratio of 1.90 and a beta of 0.98. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 1.39. The company has a fifty day moving average price of $1,067.75 and a 200 day moving average price of $965.07.

Equinix (NASDAQ:EQIX) last posted its quarterly earnings data on Wednesday, April 29th. The financial services provider reported $10.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.30 by $6.49. Equinix had a net margin of 15.07% and a return on equity of 10.03%. The company had revenue of $2.44 billion for the quarter, compared to analyst estimates of $2.52 billion. During the same quarter last year, the firm posted $9.67 earnings per share. The business’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. Equities research analysts forecast that Equinix, Inc. will post 38.26 earnings per share for the current fiscal year.

Equinix Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 17th. Stockholders of record on Wednesday, May 20th were given a dividend of $5.16 per share. The ex-dividend date of this dividend was Wednesday, May 20th. This represents a $20.64 annualized dividend and a dividend yield of 2.0%. Equinix’s dividend payout ratio (DPR) is presently 142.84%.

Insider Activity at Equinix

In related news, insider Brandi Galvin Morandi sold 3,726 shares of Equinix stock in a transaction dated Monday, June 8th. The stock was 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 trade represents a 37.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Chairman Charles J. Meyers sold 5,224 shares of Equinix stock in a transaction that occurred on Wednesday, May 6th. The stock was sold at an average price of $1,085.23, for a total value of $5,669,241.52. Following the completion of the transaction, the chairman owned 7,370 shares of the company’s stock, valued at approximately $7,998,145.10. The trade was a 41.48% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 11,115 shares of company stock worth $12,022,574. 0.27% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Mizuho lifted their target price on Equinix from $1,165.00 to $1,200.00 and gave the company an “outperform” rating in a report on Thursday, May 7th. HSBC raised their price objective on Equinix from $1,100.00 to $1,250.00 and gave the stock a “buy” rating in a report on Monday, April 27th. Wells Fargo & Company lifted their price objective on Equinix from $975.00 to $1,200.00 and gave the company an “overweight” rating in a research note on Tuesday, April 21st. Truist Financial set a $1,215.00 target price on Equinix in a report on Friday, May 1st. Finally, Scotiabank raised their price target on shares of Equinix from $1,050.00 to $1,120.00 and gave the company a “sector perform” rating in a report on Thursday, April 30th. Three investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price 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.