Barton Investment Management Sells 2,416 Shares of Equinix, Inc. $EQIX

Key Points

• Barton Investment Management reduced its Equinix stake by 6.9% in Q1, selling 2,416 shares and leaving it with 32,840 shares worth about $32.2 million.
• Equinix reported strong quarterly results, with EPS of $10.79 easily beating estimates, though revenue of $2.44 billion came in slightly below expectations.
• The company paid a quarterly dividend of $5.16 per share and continues to draw broadly positive analyst coverage, with a consensus rating of Moderate Buy and an average price target of $1,151.67.

Barton Investment Management trimmed its holdings in shares of Equinix, Inc. (NASDAQ:EQIX - Free Report) by 6.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 32,840 shares of the financial services provider's stock after selling 2,416 shares during the period. Equinix comprises 4.0% of Barton Investment Management's holdings, making the stock its 5th largest position. Barton Investment Management's holdings in Equinix were worth $32,191,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of EQIX. Douglas Lane & Associates LLC increased its position in Equinix by 3.9% during the fourth quarter. Douglas Lane & Associates LLC now owns 112,030 shares of the financial services provider's stock worth $85,833,000 after buying an additional 4,241 shares during the last quarter. Vanderbilt University lifted its position in shares of Equinix by 65.9% in the fourth quarter. Vanderbilt University now owns 10,298 shares of the financial services provider's stock valued at $7,890,000 after buying an additional 4,089 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in shares of Equinix by 6.3% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 52,265 shares of the financial services provider's stock worth $40,043,000 after acquiring an additional 3,108 shares during the period. Perigon Wealth Management LLC boosted its stake in shares of Equinix by 141.1% during the 4th quarter. Perigon Wealth Management LLC now owns 3,178 shares of the financial services provider's stock worth $2,435,000 after acquiring an additional 1,860 shares during the period. Finally, Northwestern Mutual Wealth Management Co. increased its holdings in shares of Equinix by 5,149.9% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 128,097 shares of the financial services provider's stock worth $98,143,000 after acquiring an additional 125,657 shares during the last quarter. Institutional investors and hedge funds own 94.94% of the company's stock.

Equinix Stock Performance

Shares of NASDAQ:EQIX opened at $1,087.61 on Friday. Equinix, Inc. has a 12-month low of $710.52 and a 12-month high of $1,128.68. The company's 50 day moving average price is $1,078.80 and its two-hundred day moving average price is $947.16. The firm has a market cap of $107.26 billion, a PE ratio of 75.27, a PEG ratio of 2.03 and a beta of 0.99. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 1.39.

Equinix (NASDAQ:EQIX - Get Free Report) last issued its quarterly earnings results on Wednesday, April 29th. The financial services provider reported $10.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.30 by $6.49. The business had revenue of $2.44 billion during the quarter, compared to analysts' expectations of $2.52 billion. Equinix had a return on equity of 10.03% and a net margin of 15.07%.The firm's revenue for the quarter was up 9.8% compared to the same quarter last year. During the same period in the previous year, the company posted $9.67 earnings per share. Equinix has set its FY 2026 guidance at 42.310-43.110 EPS. Equities research analysts predict that Equinix, Inc. will post 38.26 earnings per share for the current year.

Equinix Announces Dividend

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

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. TD Cowen lifted their price objective on shares of Equinix from $1,123.00 to $1,143.00 and gave the stock a "buy" rating in a research report on Thursday, April 30th. Evercore reissued an "outperform" rating and issued a $1,240.00 price objective on shares of Equinix in a research report on Tuesday, April 28th. Barclays raised their target price on shares of Equinix from $1,020.00 to $1,109.00 and gave the stock an "equal weight" rating in a research note on Thursday, April 16th. Citigroup reiterated a "buy" rating on shares of Equinix in a research note on Wednesday, June 3rd. Finally, HSBC increased their price target on shares of Equinix from $1,100.00 to $1,250.00 and gave the company a "buy" rating in a report on Monday, April 27th. Three research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $1,151.67.

Insider Buying and Selling

In other 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 value of $4,010,517.36. Following the completion of the sale, the insider owned 6,132 shares of the company's stock, valued at approximately $6,600,239.52. This represents a 37.80% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Chairman Charles J. Meyers sold 5,224 shares of the firm's stock in a transaction that occurred 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 transaction, the chairman owned 7,370 shares of the company's stock, valued at approximately $7,998,145.10. The trade was a 41.48% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 11,539 shares of company stock valued at $12,455,054 in the last quarter. 0.27% of the stock is currently owned by company insiders.

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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