Northwestern Mutual Wealth Management Co. Acquires Shares of 2,451 Equinix, Inc. $EQIX

Northwestern Mutual Wealth Management Co. bought a new position in Equinix, Inc. (NASDAQ:EQIX) during the second quarter, Holdings Channel.com reports. The fund bought 2,451 shares of the financial services provider’s stock, valued at approximately $2,555,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Brighton Jones LLC raised its position in Equinix by 28.9% during the 4th quarter. Brighton Jones LLC now owns 326 shares of the financial services provider’s stock valued at $307,000 after purchasing an additional 73 shares in the last quarter. Integrated Wealth Concepts LLC grew its position in shares of Equinix by 11.5% during the 1st quarter. Integrated Wealth Concepts LLC now owns 522 shares of the financial services provider’s stock worth $425,000 after buying an additional 54 shares in the last quarter. Empowered Funds LLC grew its position in shares of Equinix by 21.8% during the 1st quarter. Empowered Funds LLC now owns 3,050 shares of the financial services provider’s stock worth $2,487,000 after buying an additional 546 shares in the last quarter. Schnieders Capital Management LLC. purchased a new position in shares of Equinix during the second quarter valued at $231,000. Finally, Brown Advisory Inc. increased its stake in shares of Equinix by 2.8% during the second quarter. Brown Advisory Inc. now owns 1,074 shares of the financial services provider’s stock valued at $854,000 after buying an additional 29 shares during the period. Institutional investors own 94.94% of the company’s stock.

Insider Buying and Selling

In other Equinix news, insider Brandi Galvin Morandi sold 3,726 shares of the stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $1,076.36, for a total transaction of $4,010,517.36. Following the sale, the insider directly owned 6,132 shares of the company’s stock, valued at approximately $6,600,239.52. This trade represents a 37.80% decrease in their position. The sale 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, insider Kurt Pletcher sold 135 shares of the firm’s stock in a transaction dated Thursday, August 20th. The stock was sold at an average price of $1,075.50, for a total value of $145,192.50. Following the sale, the insider directly owned 4,077 shares in the company, valued at approximately $4,384,813.50. This trade represents a 3.21% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 7,986 shares of company stock valued at $8,370,777 over the last 90 days. Insiders own 0.27% of the company’s stock.

Equinix Trading Down 1.0%

NASDAQ:EQIX opened at $1,055.20 on Tuesday. The stock has a market capitalization of $104.12 billion, a price-to-earnings ratio of 67.95, a PEG ratio of 1.51 and a beta of 0.99. Equinix, Inc. has a 52 week low of $720.62 and a 52 week high of $1,128.68. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 1.44. The firm has a 50 day moving average of $1,052.48 and a 200 day moving average of $1,025.76.

Equinix (NASDAQ:EQIX) last issued its quarterly earnings results on Wednesday, July 29th. The financial services provider reported $11.78 earnings per share for the quarter, topping the consensus estimate of $4.73 by $7.05. The business had revenue of $2.62 billion during the quarter, compared to the consensus estimate of $2.59 billion. Equinix had a return on equity of 10.76% and a net margin of 15.64%.The company’s quarterly revenue was up 16.4% on a year-over-year basis. During the same quarter last 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, sell-side analysts anticipate that Equinix, Inc. will post 38.23 earnings per share for the current fiscal year.

Equinix Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 16th. Stockholders of record on Wednesday, August 19th will be paid a $5.16 dividend. The ex-dividend date is Wednesday, August 19th. This represents a $20.64 dividend on an annualized basis and a dividend yield of 2.0%. Equinix’s dividend payout ratio is presently 132.90%.

Analyst Ratings Changes

A number of analysts recently weighed in on EQIX shares. Cantor Fitzgerald upped their price objective on shares of Equinix from $1,186.00 to $1,211.00 and gave the stock an “overweight” rating in a research note on Thursday, July 30th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $1,270.00 target price on shares of Equinix in a research report on Monday, August 3rd. Truist Financial boosted their price target on shares of Equinix from $1,215.00 to $1,220.00 and gave the company a “buy” rating in a report on Friday, July 31st. Barclays upped their price target on shares of Equinix from $1,109.00 to $1,130.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 1st. Finally, Evercore reissued an “outperform” rating and set a $1,270.00 price objective on shares of Equinix in a report on Tuesday, August 18th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,203.40.

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.