Balyasny Asset Management L.P. boosted its stake in shares of Equinix, Inc. (NASDAQ:EQIX – Free Report) by 709.3% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 286,288 shares of the financial services provider’s stock after acquiring an additional 250,914 shares during the quarter. Balyasny Asset Management L.P.’s holdings in Equinix were worth $219,342,000 at the end of the most recent quarter.
Other hedge funds also recently bought and sold shares of the company. Douglas Lane & Associates LLC boosted its stake in Equinix by 3.9% during the fourth quarter. Douglas Lane & Associates LLC now owns 112,030 shares of the financial services provider’s stock worth $85,833,000 after buying an additional 4,241 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its stake in shares of Equinix by 71.1% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 100,791 shares of the financial services provider’s stock valued at $78,944,000 after purchasing an additional 41,887 shares during the period. NEOS Investment Management LLC boosted its stake in shares of Equinix by 62.1% in the third quarter. NEOS Investment Management LLC now owns 18,777 shares of the financial services provider’s stock valued at $14,707,000 after purchasing an additional 7,196 shares during the period. Vanderbilt University boosted its stake in shares of Equinix by 65.9% in the fourth quarter. Vanderbilt University now owns 10,298 shares of the financial services provider’s stock valued at $7,890,000 after purchasing an additional 4,089 shares during the period. Finally, Avalon Trust Co boosted its stake in shares of Equinix by 420,860.0% in the third quarter. Avalon Trust Co now owns 21,048 shares of the financial services provider’s stock valued at $16,486,000 after purchasing an additional 21,043 shares during the period. Hedge funds and other institutional investors own 94.94% of the company’s stock.
Wall Street Analysts Forecast Growth
Several research analysts have recently commented on the stock. Mizuho raised their price objective 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. Morgan Stanley raised their price objective on shares of Equinix from $1,075.00 to $1,250.00 and gave the company an “overweight” rating in a research note on Monday, April 13th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $1,207.00 price objective on shares of Equinix in a research note on Tuesday, May 5th. Wall Street Zen raised shares of Equinix from a “sell” rating to a “hold” rating in a research note on Saturday, May 2nd. Finally, Scotiabank raised their price objective on shares of Equinix from $1,050.00 to $1,120.00 and gave the company a “sector perform” rating in a research note on Thursday, April 30th. Three analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $1,143.60.
Insider Activity at Equinix
In other news, insider Brandi Galvin Morandi sold 3,726 shares of Equinix 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 transaction, the insider directly owned 6,132 shares of the company’s stock, valued at $6,600,239.52. The trade was a 37.80% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Raouf Abdel sold 2,040 shares of Equinix stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $1,083.47, for a total transaction of $2,210,278.80. Following the completion of the transaction, the executive vice president directly owned 5,728 shares in the company, valued at $6,206,116.16. The trade was a 26.26% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 11,539 shares of company stock worth $12,455,054 in the last ninety days. Company insiders own 0.27% of the company’s stock.
Equinix Stock Down 0.6%
EQIX stock opened at $1,088.52 on Thursday. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 1.39. Equinix, Inc. has a twelve month low of $710.52 and a twelve month high of $1,128.68. The company’s 50 day moving average is $1,070.84 and its two-hundred day moving average is $931.78. The stock 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 released its quarterly earnings data on Wednesday, April 29th. The financial services provider reported $10.79 earnings per share 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 for the quarter, compared to analysts’ expectations of $2.52 billion. During the same quarter last year, the company earned $9.67 earnings per share. The firm’s revenue for the quarter was up 9.8% on a year-over-year basis. Equinix has set its FY 2026 guidance at 42.310-43.110 EPS. Research analysts expect that Equinix, Inc. will post 38.26 earnings per share for the current fiscal year.
Equinix Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 17th. Shareholders of record on Wednesday, May 20th were issued a dividend of $5.16 per share. The ex-dividend date of this dividend was Wednesday, May 20th. This represents a $20.64 dividend on an annualized basis and a yield of 1.9%. Equinix’s dividend payout ratio (DPR) is presently 142.84%.
Equinix 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.
Read More
- Five stocks we like better than Equinix
- Cheap Thrills: Why These 3 Entertainment Stocks Are Soaring
- CoreWeave Insider Sales Look Big, But Should Investors Worry?
- Critical Metals: Sizing Up This Tiny Rare-Earth Stock Making Big Moves
- Meta and Cloud Computing: Real Potential, or a Shot in the Dark?
Want to see what other hedge funds are holding EQIX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Equinix, Inc. (NASDAQ:EQIX – Free Report).
Receive News & Ratings for Equinix Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Equinix and related companies with MarketBeat.com's FREE daily email newsletter.
