Equinix, Inc. $EQIX Shares Newly Acquired by Aew Capital Management Inc.

Key Points

• Aew Capital Management acquired 119,316 Equinix shares in the third quarter, worth about $120.7 million. The position represents 7.9% of its portfolio and is its second-largest holding.
• Equinix reported quarterly revenue of $2.57 billion, up 11% year over year, and adjusted earnings per share of $4.93, beating analysts’ consensus estimate of $4.11.
• The company declared a quarterly dividend of $5.16 per share, equivalent to an annualized yield of 1.9%. Analysts’ consensus rating was “Moderate Buy,” with a $1,234.13 average price target.

Aew Capital Management Inc. acquired a new stake in Equinix, Inc. (NASDAQ:EQIX - Free Report) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 119,316 shares of the financial services provider's stock, valued at approximately $120,698,000. Equinix accounts for 7.9% of Aew Capital Management Inc.'s holdings, making the stock its 2nd biggest holding. Aew Capital Management Inc. owned 0.12% of Equinix as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of EQIX. Elevation Wealth Partners LLC grew its position in shares of Equinix by 166.7% in the second quarter. Elevation Wealth Partners LLC now owns 24 shares of the financial services provider's stock valued at $25,000 after purchasing an additional 15 shares during the last quarter. Trust Co. of Vermont bought a new stake in shares of Equinix in the 2nd quarter valued at approximately $34,000. Cassaday & Co Wealth Management LLC acquired a new position in Equinix in the first quarter valued at approximately $39,000. Signature Equity Partners LLC lifted its position in Equinix by 193.3% in the 3rd quarter. Signature Equity Partners LLC now owns 44 shares of the financial services provider's stock valued at $45,000 after purchasing an additional 29 shares during the last quarter. Finally, Transamerica Financial Advisors LLC bought a new stake in Equinix during the 2nd quarter valued at $53,000. 94.94% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Kurt Pletcher sold 198 shares of the business's stock in a transaction dated Friday, November 6th. The stock was sold at an average price of $1,014.18, for a total transaction of $200,807.64. Following the sale, the insider owned 3,879 shares in the company, valued at approximately $3,934,004.22. The trade was a 4.86% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Michael Paladin sold 307 shares of the stock in a transaction dated Friday, September 4th. The shares were sold at an average price of $1,035.01, for a total value of $317,748.07. Following the completion of the transaction, the insider directly owned 2,450 shares in the company, valued at $2,535,774.50. This represents a 11.14% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 968 shares of company stock worth $1,007,885 over the last quarter. Insiders own 0.27% of the company's stock.

Equinix Stock Up 1.7%

Shares of NASDAQ:EQIX opened at $1,068.06 on Thursday. The company has a debt-to-equity ratio of 1.59, a current ratio of 1.29 and a quick ratio of 1.29. The company has a market capitalization of $105.39 billion, a PE ratio of 24.35, a price-to-earnings-growth ratio of 1.47 and a beta of 0.98. The business has a fifty day moving average price of $1,017.79 and a two-hundred day moving average price of $1,017.28. Equinix, Inc. has a 1 year low of $720.62 and a 1 year high of $1,128.68.

Equinix (NASDAQ:EQIX - Get Free Report) last posted its earnings results on Wednesday, October 28th. The financial services provider reported $4.93 earnings per share for the quarter, topping analysts' consensus estimates of $4.11 by $0.82. Equinix had a net margin of 16.38% and a return on equity of 11.49%. The business had revenue of $2.57 billion for the quarter, compared to analyst estimates of $2.56 billion. During the same quarter in the prior year, the firm posted $9.83 EPS. Equinix's revenue was up 11.0% on a year-over-year basis. Analysts forecast that Equinix, Inc. will post 39.01 earnings per share for the current year.

Equinix Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 16th. Investors of record on Wednesday, November 18th will be paid a dividend of $5.16 per share. The ex-dividend date is Wednesday, November 18th. This represents a $20.64 dividend on an annualized basis and a dividend yield of 1.9%. Equinix's payout ratio is 123.96%.

Analyst Upgrades and Downgrades

A number of research firms have commented on EQIX. The Goldman Sachs Group upped their price objective on shares of Equinix from $1,015.00 to $1,060.00 and gave the company a "neutral" rating in a research note on Thursday, July 30th. TD Cowen raised their target price on shares of Equinix from $1,166.00 to $1,210.00 and gave the company a "buy" rating in a research note on Thursday, October 29th. HSBC decreased their target price on shares of Equinix from $1,400.00 to $1,380.00 and set a "buy" rating for the company in a research report on Wednesday, September 23rd. Rothschild & Co Redburn initiated coverage on Equinix in a report on Monday, September 21st. They set a "buy" rating and a $1,261.00 price target for the company. Finally, Sanford C. Bernstein increased their price objective on Equinix from $1,222.00 to $1,270.00 and gave the stock an "outperform" rating in a research report on Thursday, July 30th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $1,234.13.

About Equinix

Equinix, Inc. is a global digital infrastructure company that operates data centers where businesses can house their computing and networking equipment. Its colocation services support organizations seeking secure, reliable facilities for their IT systems. The company also provides interconnection services that enable customers to connect with cloud providers, networks, business partners and one another. Its Equinix Fabric platform offers software-defined connectivity, while its xScale facilities are designed to serve large-scale cloud and technology companies.

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