Arrowstreet Capital Limited Partnership Raises Holdings in Equinix, Inc. $EQIX

Key Points

• Arrowstreet Capital increased its stake in Equinix by 33.9% in the fourth quarter, buying an additional 54,011 shares and bringing its total holding to 213,542 shares worth about $163.6 million.
• Equinix reported strong quarterly earnings, posting $10.79 EPS versus consensus estimates of $4.30, while revenue rose 9.8% year over year to $2.44 billion.
• The company declared a quarterly dividend of $5.16 per share, and Wall Street remains constructive overall with a consensus rating of “Moderate Buy” and an average target price of $1,143.60.

Arrowstreet Capital Limited Partnership lifted its holdings in shares of Equinix, Inc. (NASDAQ:EQIX - Free Report) by 33.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 213,542 shares of the financial services provider's stock after purchasing an additional 54,011 shares during the period. Arrowstreet Capital Limited Partnership owned about 0.22% of Equinix worth $163,607,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of EQIX. Norges Bank purchased a new stake in Equinix in the 4th quarter worth approximately $984,355,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Equinix by 408.1% in 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 worth $929,312,000 after acquiring an additional 953,001 shares during the period. SG Americas Securities LLC grew its stake in Equinix by 377,167.4% in the 4th quarter. SG Americas Securities LLC now owns 716,808 shares of the financial services provider's stock worth $549,190,000 after acquiring an additional 716,618 shares during the period. JPMorgan Chase & Co. grew its stake in Equinix by 25.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,875,355 shares of the financial services provider's stock worth $2,252,094,000 after acquiring an additional 588,967 shares during the period. Finally, Cohen & Steers Inc. grew its stake in 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 acquiring an additional 493,141 shares during the period. 94.94% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Equinix

In other Equinix news, Chairman Charles J. Meyers sold 5,224 shares of the company's stock in a transaction dated Wednesday, May 6th. The shares were 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 in the company, valued at approximately $7,998,145.10. This represents a 41.48% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Christopher B. Paisley sold 125 shares of the company's stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $1,060.29, for a total transaction of $132,536.25. Following the completion of the sale, the director directly owned 17,557 shares of the company's stock, valued at approximately $18,615,511.53. This represents a 0.71% 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 11,539 shares of company stock worth $12,455,054 over the last quarter. Company insiders own 0.27% of the company's stock.

Equinix Stock Performance

NASDAQ:EQIX opened at $1,064.38 on Tuesday. 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 firm has a market capitalization of $104.97 billion, a price-to-earnings ratio of 73.66, a PEG ratio of 1.99 and a beta of 0.99. The firm's fifty day simple moving average is $1,067.51 and its 200 day simple moving average is $926.97. Equinix, Inc. has a twelve month low of $710.52 and a twelve month high of $1,128.68.

Equinix (NASDAQ:EQIX - Get Free Report) last issued its quarterly earnings data on Wednesday, April 29th. The financial services provider reported $10.79 EPS for the quarter, topping 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 firm had revenue of $2.44 billion for the quarter, compared to analyst estimates of $2.52 billion. During the same quarter in the previous year, the business posted $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. As a group, equities research analysts expect that Equinix, Inc. will post 37.72 earnings per share for the current fiscal year.

Equinix Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 17th. Stockholders of record on Wednesday, May 20th will be given a $5.16 dividend. The ex-dividend date of this dividend is Wednesday, May 20th. This represents a $20.64 annualized dividend and a dividend yield of 1.9%. Equinix's payout ratio is presently 142.84%.

Wall Street Analysts Forecast Growth

Several research firms have commented on EQIX. Guggenheim reaffirmed a "buy" rating and issued a $1,235.00 target price on shares of Equinix in a research note on Wednesday, May 20th. Zacks Research lowered shares of Equinix from a "strong-buy" rating to a "hold" rating in a report on Friday, May 15th. Cantor Fitzgerald lifted their price target on shares of Equinix from $1,173.00 to $1,186.00 and gave the company an "overweight" rating in a report on Friday, May 1st. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and issued a $1,207.00 price target on shares of Equinix in a report on Tuesday, May 5th. Finally, TD Cowen lifted their price target on shares of Equinix from $1,123.00 to $1,143.00 and gave the company a "buy" rating in a report on Thursday, April 30th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Equinix presently has an average rating of "Moderate Buy" and a consensus target price of $1,143.60.

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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