Alkeon Capital Management LLC Cuts Stake in Equinix, Inc. $EQIX

Key Points

• Alkeon Capital Management LLC reduced its stake in Equinix, Inc. by 12.3%, selling 50,200 shares and now holding 358,775 shares, making it its 26th largest position.
• Equinix's latest earnings report indicated an impressive earnings per share of $9.91, significantly surpassing the consensus estimate of **$3.49**, alongside a revenue of $2.26 billion.
• The company announced a quarterly dividend of $4.69, reflecting a 2.4% yield and a high dividend payout ratio of **183.74%**.

Alkeon Capital Management LLC trimmed its holdings in Equinix, Inc. (NASDAQ:EQIX - Free Report) by 12.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 358,775 shares of the financial services provider's stock after selling 50,200 shares during the period. Equinix comprises about 0.6% of Alkeon Capital Management LLC's holdings, making the stock its 26th largest position. Alkeon Capital Management LLC owned approximately 0.37% of Equinix worth $292,527,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Activest Wealth Management lifted its position in shares of Equinix by 121.4% during the first quarter. Activest Wealth Management now owns 31 shares of the financial services provider's stock valued at $25,000 after purchasing an additional 17 shares in the last quarter. Pinney & Scofield Inc. bought a new position in shares of Equinix during the fourth quarter valued at about $28,000. GKV Capital Management Co. Inc. bought a new position in shares of Equinix during the first quarter valued at about $30,000. Saudi Central Bank bought a new position in shares of Equinix during the first quarter valued at about $31,000. Finally, Quarry LP bought a new stake in Equinix in the first quarter worth about $31,000. 94.94% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, Director Christopher B. Paisley sold 75 shares of the company's stock in a transaction on Monday, August 18th. The shares were sold at an average price of $781.50, for a total value of $58,612.50. Following the completion of the sale, the director owned 17,832 shares of the company's stock, valued at approximately $13,935,708. This represents a 0.42% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.27% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. BMO Capital Markets lowered shares of Equinix from an "outperform" rating to a "market perform" rating and lowered their price objective for the stock from $1,045.00 to $850.00 in a research report on Thursday, June 26th. Barclays lifted their price objective on shares of Equinix from $798.00 to $804.00 and gave the stock an "equal weight" rating in a research report on Wednesday, August 20th. JPMorgan Chase & Co. lifted their price objective on shares of Equinix from $935.00 to $940.00 and gave the stock an "overweight" rating in a research report on Thursday, July 31st. The Goldman Sachs Group lowered their price objective on shares of Equinix from $1,020.00 to $880.00 and set a "buy" rating on the stock in a research report on Wednesday, July 2nd. Finally, Dbs Bank raised shares of Equinix to a "moderate buy" rating in a research report on Wednesday, August 6th. Five research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Buy" and an average price target of $962.52.

Equinix Price Performance

NASDAQ:EQIX traded up $5.75 during mid-day trading on Friday, hitting $773.68. 321,970 shares of the stock traded hands, compared to its average volume of 378,185. The company has a quick ratio of 1.54, a current ratio of 1.54 and a debt-to-equity ratio of 1.29. Equinix, Inc. has a 12-month low of $701.41 and a 12-month high of $994.03. The company has a market cap of $75.72 billion, a PE ratio of 75.78, a price-to-earnings-growth ratio of 1.37 and a beta of 0.92. The business's 50-day moving average price is $780.36 and its 200 day moving average price is $828.37.

Equinix (NASDAQ:EQIX - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The financial services provider reported $9.91 EPS for the quarter, topping analysts' consensus estimates of $3.49 by $6.42. Equinix had a net margin of 11.11% and a return on equity of 7.22%. The business had revenue of $2.26 billion during the quarter, compared to analysts' expectations of $2.26 billion. During the same quarter in the previous year, the company earned $9.22 EPS. The business's quarterly revenue was up 4.5% compared to the same quarter last year. Equinix has set its Q3 2025 guidance at EPS. FY 2025 guidance at 37.670-38.480 EPS. On average, analysts expect that Equinix, Inc. will post 33.1 EPS for the current fiscal year.

Equinix Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 17th. Shareholders of record on Wednesday, August 20th will be paid a $4.69 dividend. This represents a $18.76 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend is Wednesday, August 20th. Equinix's payout ratio is currently 183.74%.

About Equinix

Equinix Nasdaq: EQIX is the world's digital infrastructure company . Digital leaders harness Equinix's trusted platform to bring together and interconnect foundational infrastructure at software speed. Equinix enables organizations to access all the right places, partners and possibilities to scale with agility, speed the launch of digital services, deliver world-class experiences and multiply their value, while supporting their sustainability goals.