Pictet Asset Management Holding SA Reduces Stake in Equinix, Inc.

Pictet Asset Management Holding SA has reduced its stake in Equinix, Inc. (NASDAQ:EQIX) by 1.5% in the fourth quarter. This decrease was documented in the company’s latest Form 13F filing with the Securities and Exchange Commission. After selling 16,451 shares in the quarter, Pictet currently holds 1,085,677 shares of Equinix, which represents about 1.1% of its total holdings. This makes Equinix Pictet’s 12th largest investment, with a market value of approximately $1,023,674,000 as of the latest reporting period.

Other institutional investors have also been active in trading Equinix shares. For instance, Kestra Investment Management LLC initiated a new position in the fourth quarter worth around $31,000, while J. Safra Asset Management Corp and Sierra Ocean LLC bought new stakes valued at approximately $39,000 and $42,000, respectively. Dunhill Financial LLC significantly increased its position by 108.7% during the third quarter, owning now 48 shares valued at $43,000 after acquiring an additional 25 shares in the last period. Finally, Thompson Investment Management Inc. joined in by investing about $47,000 in Equinix shares. Notably, hedge funds and institutional investors collectively own 94.94% of the company's stock.

Recent Analyst Ratings

Recently, several analysts have provided updates regarding Equinix shares. Oppenheimer raised its price target from $950.00 to $975.00, maintaining an “outperform” rating. Meanwhile, BMO Capital Markets reduced their price forecast from $1,085.00 to $1,065.00 while still rating the stock as “outperform.” Moffett Nathanson upgraded Equinix from a “hold” to a “strong-buy” on February 5th. Moreover, Wells Fargo & Company modified their price target from $1,075.00 to $1,065.00 and maintained an “overweight” rating. Lastly, JMP Securities reiterated a “market outperform” rating on the stock with a price objective of $1,200.00. In total, three analysts rate the stock as a hold, sixteen as a buy, and three as a strong buy, suggesting a consensus of “Buy” with an average target price of $989.39 according to MarketBeat.com.

Insider Transactions

In regard to insider trading, Brandi Galvin Morandi sold 684 shares of Equinix on February 20th, at an average price of $940.51, amounting to about $643,308.84. After this transaction, Morandi holds 8,377 shares of Equinix valued at approximately $7,878,652.27—a decrease of 7.55% in her position. Another insider, Kurt Pletcher, sold 341 shares on January 16th at an average price of $903.72, resulting in a total of $308,168.52. After this sale, Pletcher now owns 1,430 shares valued at $1,292,319.60, which reflects a 19.25% decrease in ownership. Over the past ninety days, insiders have sold a total of 19,054 shares valued at around $17,466,950, with insiders owning 0.27% of the company's stock.

Equinix Stock Overview

The stock for Equinix opened at $825.31 recently, having reached a low of $684.14 and a high of $994.03 over the last twelve months. The company boasts a current ratio of 1.63, a quick ratio of 1.63, and a debt-to-equity ratio of 1.19. The stock has a market capitalization of $80.33 billion with a price-to-earnings (P/E) ratio of 96.53 and a beta of 0.74. Equinix last reported quarterly earnings results on February 12th, showing $7.92 earnings per share, which surpassed analyst expectations of $2.75 by $5.17. The company's return on equity stood at 6.31%, with a net margin of 9.32%. Analysts forecast that Equinix will post an earnings per share of 33.1 for the current fiscal year.

Dividend Announcements

Equinix also recently announced a quarterly dividend, which was distributed to shareholders on March 19th. Shareholders who were on record as of February 26th received a dividend payment of $4.69, up from the previous quarterly dividend of $4.26. This adjustment leads to an annualized dividend of $18.76, corresponding to a yield of 2.27%. Currently, Equinix's payout ratio is reported at 219.42%.

About Equinix

Equinix, symbolized as NASDAQ: EQIX, functions as a global digital infrastructure company. They offer a reliable platform that enables digital leaders to connect and scale their businesses effectively. Equinix allows organizations to tap into the right locations and partnerships necessary to enhance their digital services, deliver excellent experiences, and achieve their sustainability objectives.

Equinix, Stock, Investment