Arrowstreet Capital Limited Partnership Has $242.25 Million Holdings in Equinix, Inc. $EQIX

Key Points

• Arrowstreet Capital boosted its Equinix stake by 15.7% in the first quarter, bringing its holdings to 247,129 shares worth about $242.25 million.
• Wall Street analysts remain broadly positive on Equinix, with a Moderate Buy consensus and an average price target of $1,153.79. Several firms recently raised targets, including Citigroup and Cantor Fitzgerald.
• Equinix reported strong quarterly results, with EPS of $10.79 beating expectations, though revenue came in below consensus at $2.44 billion. The company also paid a $5.16 quarterly dividend and saw notable insider stock sales in recent months.

Arrowstreet Capital Limited Partnership increased its holdings in Equinix, Inc. (NASDAQ:EQIX - Free Report) by 15.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 247,129 shares of the financial services provider's stock after purchasing an additional 33,587 shares during the quarter. Arrowstreet Capital Limited Partnership owned approximately 0.25% of Equinix worth $242,246,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Brighton Jones LLC grew its holdings in Equinix by 28.9% during the 4th quarter. Brighton Jones LLC now owns 326 shares of the financial services provider's stock worth $307,000 after acquiring an additional 73 shares during the period. Integrated Wealth Concepts LLC grew its stake in Equinix by 11.5% during the first quarter. Integrated Wealth Concepts LLC now owns 522 shares of the financial services provider's stock worth $425,000 after purchasing an additional 54 shares during the period. Empowered Funds LLC grew its stake in Equinix by 21.8% during the first quarter. Empowered Funds LLC now owns 3,050 shares of the financial services provider's stock worth $2,487,000 after purchasing an additional 546 shares during the period. Schnieders Capital Management LLC. acquired a new position in Equinix in the second quarter valued at approximately $231,000. Finally, Brown Advisory Inc. lifted its stake in Equinix by 2.8% in 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. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. TD Cowen raised their price target on shares of Equinix from $1,123.00 to $1,143.00 and gave the stock a "buy" rating in a report on Thursday, April 30th. The Goldman Sachs Group upped their price objective on shares of Equinix from $894.00 to $1,015.00 and gave the company a "neutral" rating in a report on Thursday, April 30th. Scotiabank increased their price objective on shares of Equinix from $1,050.00 to $1,120.00 and gave the stock a "sector perform" rating in a research report on Thursday, April 30th. Cantor Fitzgerald boosted their target price on Equinix from $1,173.00 to $1,186.00 and gave the company an "overweight" rating in a research report on Friday, May 1st. Finally, Citigroup raised their price objective on Equinix from $1,240.00 to $1,260.00 and gave the company a "buy" rating in a research note on Monday, June 29th. Three research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $1,153.79.

Equinix Stock Performance

NASDAQ:EQIX opened at $1,084.24 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 firm has a market cap of $106.93 billion, a price-to-earnings ratio of 75.03, a PEG ratio of 1.92 and a beta of 0.98. The business's fifty day moving average is $1,056.85 and its 200 day moving average is $986.34.

Equinix (NASDAQ:EQIX - Get Free Report) last issued its earnings results on Wednesday, April 29th. The financial services provider reported $10.79 EPS for the quarter, topping 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 business had revenue of $2.44 billion during the quarter, compared to the consensus estimate of $2.52 billion. During the same quarter last year, the company earned $9.67 EPS. The firm's revenue was up 9.8% compared to the same quarter last year. Equinix has set its FY 2026 guidance at 42.310-43.110 EPS. Research analysts predict that Equinix, Inc. will post 38.25 EPS for the current year.

Equinix Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 17th. Investors of record on Wednesday, May 20th were given a $5.16 dividend. This represents a $20.64 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date was Wednesday, May 20th. Equinix's dividend payout ratio (DPR) is 142.84%.

Insiders Place Their Bets

In other Equinix news, EVP Raouf Abdel sold 2,040 shares of the business's stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $1,083.47, for a total value of $2,210,278.80. Following the completion of the transaction, the executive vice president owned 5,728 shares of the company's stock, valued at $6,206,116.16. The trade was a 26.26% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Charles J. Meyers sold 5,224 shares of the stock in a transaction on Wednesday, May 6th. The stock was sold at an average price of $1,085.23, for a total transaction of $5,669,241.52. Following the completion of the transaction, the chairman directly owned 7,370 shares in the company, valued at $7,998,145.10. The trade was a 41.48% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 11,115 shares of company stock valued at $12,022,574 in the last ninety days. Corporate insiders own 0.27% of the company's stock.

About Equinix

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.

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