Harbor Advisors LLC Has $234.51 Million Stock Position in Equinix, Inc. $EQIX

Key Points

• Harbor Advisors LLC trimmed its Equinix stake by 5.4% in the first quarter, but the stock remains its largest holding at about 33.9% of assets, worth roughly $234.5 million.
• Equinix reported strong quarterly earnings, posting $10.79 EPS versus $4.30 expected, while revenue rose 9.8% year over year to $2.44 billion.
• Wall Street remains broadly positive on the data-center operator, with a consensus rating of Moderate Buy and an average price target of $1,155.64, even as some insiders recently sold shares.

Harbor Advisors LLC decreased its position in Equinix, Inc. (NASDAQ:EQIX - Free Report) by 5.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 239,240 shares of the financial services provider's stock after selling 13,550 shares during the quarter. Equinix accounts for approximately 33.9% of Harbor Advisors LLC's holdings, making the stock its largest holding. Harbor Advisors LLC owned 0.24% of Equinix worth $234,513,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Brighton Jones LLC lifted its stake in Equinix by 28.9% in the 4th quarter. Brighton Jones LLC now owns 326 shares of the financial services provider's stock valued at $307,000 after acquiring an additional 73 shares in the last quarter. Integrated Wealth Concepts LLC boosted its position in Equinix by 11.5% during the 1st quarter. Integrated Wealth Concepts LLC now owns 522 shares of the financial services provider's stock worth $425,000 after acquiring an additional 54 shares during the last quarter. Empowered Funds LLC grew its stake in shares of Equinix by 21.8% during the 1st quarter. Empowered Funds LLC now owns 3,050 shares of the financial services provider's stock worth $2,487,000 after acquiring an additional 546 shares in the last quarter. Schnieders Capital Management LLC. bought a new position in shares of Equinix during the 2nd quarter worth approximately $231,000. Finally, Brown Advisory Inc. raised its holdings in shares of Equinix by 2.8% in the second quarter. Brown Advisory Inc. now owns 1,074 shares of the financial services provider's stock valued at $854,000 after purchasing an additional 29 shares during the last quarter. 94.94% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently commented on EQIX shares. TD Cowen increased their target price on shares of Equinix from $1,123.00 to $1,143.00 and gave the stock a "buy" rating in a report on Thursday, April 30th. Mizuho lifted their price target on shares of Equinix from $1,165.00 to $1,200.00 and gave the company an "outperform" rating in a research note on Thursday, May 7th. Guggenheim reissued a "buy" rating and set a $1,235.00 price target on shares of Equinix in a research report on Wednesday, May 20th. Truist Financial set a $1,215.00 price objective on Equinix in a report on Friday, May 1st. Finally, Barclays lifted their target price on Equinix from $1,109.00 to $1,130.00 and gave the company an "equal weight" rating in a research report on Wednesday, July 1st. Three research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $1,155.64.

Equinix Stock Performance

Shares of Equinix stock opened at $1,020.00 on Monday. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.18 and a quick ratio of 1.18. The business has a fifty day simple moving average of $1,060.68 and a two-hundred day simple moving average of $978.32. Equinix, Inc. has a 1 year low of $720.62 and a 1 year high of $1,128.68. The company has a market capitalization of $100.59 billion, a price-to-earnings ratio of 70.59, a P/E/G ratio of 1.89 and a beta of 0.98.

Equinix (NASDAQ:EQIX - Get Free Report) last released its quarterly earnings data on Wednesday, April 29th. The financial services provider reported $10.79 EPS for the quarter, beating the consensus estimate of $4.30 by $6.49. The firm had revenue of $2.44 billion for the quarter, compared to the consensus estimate of $2.52 billion. Equinix had a net margin of 15.07% and a return on equity of 10.03%. The company's quarterly revenue was up 9.8% on a year-over-year basis. During the same period in the previous year, the company earned $9.67 earnings per share. Equinix has set its FY 2026 guidance at 42.310-43.110 EPS. Research analysts forecast that Equinix, Inc. will post 38.25 EPS for the current year.

Equinix Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 17th. Investors of record on Wednesday, May 20th were paid a $5.16 dividend. The ex-dividend date was Wednesday, May 20th. This represents a $20.64 dividend on an annualized basis and a yield of 2.0%. Equinix's dividend payout ratio is 142.84%.

Insider Activity at Equinix

In other Equinix news, Chairman Charles J. Meyers sold 5,224 shares of the 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 transaction, the chairman directly owned 7,370 shares of the company's stock, valued at $7,998,145.10. This represents a 41.48% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Raouf Abdel sold 2,040 shares of the firm's stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $1,083.47, for a total transaction of $2,210,278.80. Following the sale, the executive vice president owned 5,728 shares of the company's stock, valued at $6,206,116.16. This trade represents a 26.26% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 11,115 shares of company stock worth $12,022,574 in the last quarter. Corporate insiders own 0.27% of the company's stock.

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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