Theleme Partners LLP Takes Position in Equinix, Inc. $EQIX

Key Points

• Theleme Partners LLP acquired 105,603 Equinix shares worth approximately $110.1 million, making EQIX about 6.5% of its portfolio and its sixth-largest holding. Institutional investors collectively own 94.94% of the company.
• Equinix reported quarterly EPS of $11.78, well above the $4.73 consensus estimate, while revenue rose 16.4% year over year to $2.62 billion. Shares recently opened at $1,065.39, near their 12-month high of $1,128.68.
• The company declared a quarterly dividend of $5.16 per share, equivalent to an annualized $20.64 and a 1.9% yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $1,203.40.

Theleme Partners LLP bought a new position in shares of Equinix, Inc. (NASDAQ:EQIX - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 105,603 shares of the financial services provider's stock, valued at approximately $110,080,000. Equinix makes up approximately 6.5% of Theleme Partners LLP's investment portfolio, making the stock its 6th largest position. Theleme Partners LLP owned about 0.11% of Equinix as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in Equinix by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 13,398,906 shares of the financial services provider's stock worth $10,265,706,000 after buying an additional 107,227 shares during the last quarter. BlackRock Inc. acquired a new position in shares of Equinix during the second quarter valued at approximately $11,930,074,000. Cohen & Steers Inc. lifted its position in shares of Equinix by 23.3% in the fourth quarter. Cohen & Steers Inc. now owns 2,609,011 shares of the financial services provider's stock valued at $1,998,978,000 after acquiring an additional 493,141 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Equinix by 1.0% in the fourth quarter. Geode Capital Management LLC now owns 2,567,830 shares of the financial services provider's stock worth $1,959,731,000 after acquiring an additional 25,383 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its stake in shares of Equinix by 1.4% in the first quarter. Principal Financial Group Inc. now owns 1,980,497 shares of the financial services provider's stock worth $1,941,377,000 after acquiring an additional 27,643 shares during the last quarter. Institutional investors and hedge funds own 94.94% of the company's stock.

Equinix Stock Performance

Shares of EQIX opened at $1,065.39 on Monday. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 1.44. Equinix, Inc. has a 12-month low of $720.62 and a 12-month high of $1,128.68. The firm has a 50-day moving average price of $1,052.66 and a 200 day moving average price of $1,023.98. The firm has a market capitalization of $105.12 billion, a P/E ratio of 68.60, a P/E/G ratio of 1.51 and a beta of 0.99.

Equinix (NASDAQ:EQIX - Get Free Report) last released its quarterly earnings data on Wednesday, July 29th. The financial services provider reported $11.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.73 by $7.05. Equinix had a net margin of 15.64% and a return on equity of 10.76%. The firm had revenue of $2.62 billion during the quarter, compared to analysts' expectations of $2.59 billion. During the same period last year, the business earned $9.91 earnings per share. Equinix's revenue was up 16.4% compared to the same quarter last year. Equinix has set its FY 2026 guidance at 42.690-43.290 EPS. Sell-side analysts forecast that Equinix, Inc. will post 38.23 EPS for the current year.

Equinix Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 16th. Stockholders of record on Wednesday, August 19th will be issued a dividend of $5.16 per share. The ex-dividend date is Wednesday, August 19th. This represents a $20.64 dividend on an annualized basis and a dividend yield of 1.9%. Equinix's dividend payout ratio (DPR) is currently 132.90%.

Analyst Upgrades and Downgrades

Several analysts recently commented on EQIX shares. Evercore reiterated an "outperform" rating and set a $1,270.00 price target on shares of Equinix in a research report on Tuesday, August 18th. Weiss Ratings raised shares of Equinix from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Thursday, August 6th. HSBC reaffirmed a "buy" rating and set a $1,400.00 target price on shares of Equinix in a report on Friday, August 14th. Zacks Research lowered shares of Equinix from a "strong-buy" rating to a "hold" rating in a research report on Friday, May 15th. Finally, Raymond James Financial raised shares of 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. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $1,203.40.

Insider Activity

In related news, insider Brandi Galvin Morandi sold 3,726 shares of the stock in a transaction that occurred on 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 transaction, 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 legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Christopher B. Paisley sold 125 shares of the firm's stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $1,103.58, for a total value of $137,947.50. Following the sale, the director directly owned 13,734 shares of the company's stock, valued at approximately $15,156,567.72. This trade represents a 0.90% 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. In the last 90 days, insiders have sold 7,986 shares of company stock valued at $8,370,777. 0.27% of the stock is currently owned by company insiders.

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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