Equinix, Inc. $EQIX Shares Acquired by Engineers Gate Manager LP

Key Points

• Engineers Gate Manager LP boosted its Equinix stake by 83.6% in the fourth quarter, ending with 85,913 shares worth about $65.8 million.
• Several other institutional investors also increased positions in Equinix, and hedge funds and institutions now own 94.94% of the company’s stock.
• Analysts remain upbeat on Equinix, with a consensus rating of “Moderate Buy” and an average price target of $1,143.60; the company also recently reported earnings that beat estimates, though revenue came in slightly below forecasts.

Engineers Gate Manager LP increased its stake in Equinix, Inc. (NASDAQ:EQIX - Free Report) by 83.6% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 85,913 shares of the financial services provider's stock after acquiring an additional 39,130 shares during the quarter. Equinix makes up 0.8% of Engineers Gate Manager LP's holdings, making the stock its 14th largest holding. Engineers Gate Manager LP owned about 0.09% of Equinix worth $65,823,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Capitolis Liquid Global Markets LLC acquired a new position in Equinix in the 4th quarter worth approximately $5,363,000. City National Bank of Florida MSD acquired a new position in Equinix in the 4th quarter worth approximately $242,000. Balyasny Asset Management L.P. boosted its stake in Equinix by 709.3% in the 4th quarter. Balyasny Asset Management L.P. now owns 286,288 shares of the financial services provider's stock worth $219,342,000 after purchasing an additional 250,914 shares during the period. Boothbay Fund Management LLC boosted its stake in Equinix by 20.3% in the 4th quarter. Boothbay Fund Management LLC now owns 56,206 shares of the financial services provider's stock worth $43,063,000 after purchasing an additional 9,481 shares during the period. Finally, Advanced Portfolio Management LLC acquired a new position in Equinix in the 4th quarter worth approximately $1,139,000. Institutional investors and hedge funds own 94.94% of the company's stock.

Wall Street Analysts Forecast Growth

EQIX has been the subject of several research analyst reports. Raymond James Financial raised Equinix from a "market perform" rating to a "strong-buy" rating and set a $1,250.00 price objective for the company in a research note on Thursday, April 30th. Wells Fargo & Company increased their price target on shares of Equinix from $975.00 to $1,200.00 and gave the stock an "overweight" rating in a research report on Tuesday, April 21st. Wall Street Zen raised shares of Equinix from a "sell" rating to a "hold" rating in a research report on Saturday, May 2nd. Sanford C. Bernstein started coverage on shares of Equinix in a research report on Thursday, March 5th. They issued an "outperform" rating and a $1,128.00 price target for the company. Finally, Truist Financial set a $1,215.00 price target on shares of Equinix in a research report on Friday, May 1st. Three investment analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $1,143.60.

Insider Buying and Selling at Equinix

In related news, insider Brandi Galvin Morandi sold 3,726 shares of the company's stock in a transaction on Monday, June 8th. The shares were 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 directly owned 6,132 shares in the company, 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 document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Chairman Charles J. Meyers sold 5,224 shares of the company's 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 sale, the chairman owned 7,370 shares of the company's stock, valued at $7,998,145.10. This represents a 41.48% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 11,539 shares of company stock valued at $12,455,054. Company insiders own 0.27% of the company's stock.

Equinix Stock Performance

Shares of EQIX stock opened at $1,088.52 on Thursday. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.18 and a quick ratio of 1.18. Equinix, Inc. has a fifty-two week low of $710.52 and a fifty-two week high of $1,128.68. The stock's 50-day moving average is $1,070.84 and its two-hundred day moving average is $931.78. The firm has a market cap of $107.35 billion, a P/E ratio of 75.33, a PEG ratio of 2.03 and a beta of 0.99.

Equinix (NASDAQ:EQIX - Get Free Report) last issued its earnings results on Wednesday, April 29th. The financial services provider reported $10.79 earnings per share 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 company had revenue of $2.44 billion for the quarter, compared to analyst estimates of $2.52 billion. During the same period in the prior year, the firm posted $9.67 EPS. The business'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. Analysts predict that Equinix, Inc. will post 38.26 earnings per share for the current fiscal year.

Equinix Dividend Announcement

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

Equinix Company Profile

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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