Equinix, Inc. $EQIX Shares Acquired by Resolution Capital Ltd

Key Points

• Resolution Capital increased its Equinix stake by 15.3% in the first quarter, acquiring 85,847 additional shares. The position was worth approximately $634.9 million and represented 13.3% of the firm’s holdings.
• Institutional investors owned 94.94% of Equinix, while insiders sold 11,115 shares worth about $12.0 million over the past 90 days.
• Analysts maintained a generally positive outlook, with Equinix receiving a “Moderate Buy” consensus rating and an average price target of $1,153.79. The company’s latest quarterly EPS of $10.79 exceeded estimates, while revenue rose 9.8% year over year to $2.44 billion.

Resolution Capital Ltd grew its position in shares of Equinix, Inc. (NASDAQ:EQIX - Free Report) by 15.3% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 647,648 shares of the financial services provider's stock after purchasing an additional 85,847 shares during the period. Equinix makes up about 13.3% of Resolution Capital Ltd's holdings, making the stock its 2nd largest holding. Resolution Capital Ltd owned about 0.66% of Equinix worth $634,850,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Avion Wealth lifted its holdings in Equinix by 73.3% during the 1st quarter. Avion Wealth now owns 26 shares of the financial services provider's stock worth $25,000 after buying an additional 11 shares in the last quarter. Kemnay Advisory Services Inc. acquired a new position in shares of Equinix in the fourth quarter worth $30,000. Princeton Global Asset Management LLC increased its position in shares of Equinix by 200.0% during the fourth quarter. Princeton Global Asset Management LLC now owns 42 shares of the financial services provider's stock worth $32,000 after acquiring an additional 28 shares during the period. Physician Wealth Advisors Inc. increased its position in shares of Equinix by 266.7% during the first quarter. Physician Wealth Advisors Inc. now owns 33 shares of the financial services provider's stock worth $32,000 after acquiring an additional 24 shares during the period. Finally, WPG Advisers LLC raised its stake in shares of Equinix by 51.7% in the fourth quarter. WPG Advisers LLC now owns 44 shares of the financial services provider's stock valued at $34,000 after acquiring an additional 15 shares in the last quarter. 94.94% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Chairman Charles J. Meyers sold 5,224 shares of Equinix stock in a transaction dated Wednesday, May 6th. The shares were 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 directly owned 7,370 shares in the company, valued at $7,998,145.10. The trade was a 41.48% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Christopher B. Paisley sold 125 shares of the company's stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $1,060.29, for a total transaction of $132,536.25. Following the transaction, the director directly owned 17,557 shares in the company, valued at $18,615,511.53. The trade was a 0.71% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 11,115 shares of company stock worth $12,022,574 in the last 90 days. Corporate insiders own 0.27% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on EQIX. Weiss Ratings lowered Equinix from a "buy (b-)" rating to a "hold (c+)" rating in a report on Thursday, July 23rd. Scotiabank upped their target price on shares of Equinix from $1,050.00 to $1,120.00 and gave the stock a "sector perform" rating in a research note on Thursday, April 30th. Raymond James Financial raised shares of Equinix from a "market perform" rating to a "strong-buy" rating and set a $1,250.00 target price on the stock in a report on Thursday, April 30th. Guggenheim reiterated a "buy" rating and issued a $1,235.00 price target on shares of Equinix in a research note on Wednesday, May 20th. Finally, Wells Fargo & Company boosted their price target on shares of Equinix from $975.00 to $1,200.00 and gave the stock an "overweight" rating in a report on Tuesday, April 21st. Three equities 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. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $1,153.79.

Equinix Trading Down 1.1%

Shares of EQIX stock opened at $1,034.86 on Wednesday. The stock has a market cap of $102.06 billion, a P/E ratio of 71.62, a P/E/G ratio of 1.94 and a beta of 0.98. Equinix, Inc. has a fifty-two week low of $720.62 and a fifty-two week high of $1,128.68. The business has a fifty day simple moving average of $1,056.26 and a 200-day simple moving average of $991.49. 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 announced its earnings results on Wednesday, April 29th. The financial services provider reported $10.79 earnings per share (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 company had revenue of $2.44 billion during the quarter, compared to analysts' expectations of $2.52 billion. During the same quarter in the previous year, the business posted $9.67 earnings per share. The firm's quarterly revenue was up 9.8% compared to the same quarter last year. On average, analysts forecast that Equinix, Inc. will post 38.25 earnings per share for the current fiscal year.

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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