Southpoint Capital Advisors LP Acquires Shares of 250,000 Equinix, Inc. $EQIX

Southpoint Capital Advisors LP bought a new stake in Equinix, Inc. (NASDAQ:EQIX) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 250,000 shares of the financial services provider’s stock, valued at approximately $245,060,000. Equinix accounts for about 5.0% of Southpoint Capital Advisors LP’s portfolio, making the stock its 5th biggest position. Southpoint Capital Advisors LP owned about 0.25% of Equinix at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. BROOKFIELD Corp ON raised its holdings in shares of Equinix by 9.8% in the first quarter. BROOKFIELD Corp ON now owns 111,262 shares of the financial services provider’s stock worth $109,063,000 after buying an additional 9,940 shares during the period. Lazard Asset Management LLC boosted its holdings in Equinix by 9.2% during the 1st quarter. Lazard Asset Management LLC now owns 1,064 shares of the financial services provider’s stock valued at $1,043,000 after acquiring an additional 90 shares during the period. Ardmore Road Asset Management LP grew its position in Equinix by 34.8% in the 1st quarter. Ardmore Road Asset Management LP now owns 63,000 shares of the financial services provider’s stock valued at $61,755,000 after acquiring an additional 16,274 shares during the last quarter. Delta Global Management LP bought a new position in Equinix in the 1st quarter valued at $2,541,000. Finally, Cypress Capital Group purchased a new stake in Equinix in the first quarter worth $232,000. Institutional investors own 94.94% of the company’s stock.

Analyst Ratings Changes

EQIX has been the subject of a number of recent analyst reports. TD Cowen boosted their target price on shares of Equinix from $1,123.00 to $1,143.00 and gave the company a “buy” rating in a research note on Thursday, April 30th. Zacks Research downgraded shares of Equinix from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 15th. Cantor Fitzgerald lifted their price objective on shares of Equinix from $1,173.00 to $1,186.00 and gave the company an “overweight” rating in a report on Friday, May 1st. Morgan Stanley boosted 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 report on Monday, April 13th. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $1,207.00 target price on shares of Equinix in a research note on Tuesday, May 5th. Three equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,153.79.

Equinix Stock Performance

Shares of Equinix stock opened at $1,046.79 on Tuesday. The company has a market capitalization of $103.23 billion, a PE ratio of 72.44, a P/E/G ratio of 2.01 and a beta of 0.98. The company has a 50-day simple moving average of $1,056.53 and a two-hundred day simple moving average of $989.67. Equinix, Inc. has a one year low of $720.62 and a one year high of $1,128.68. The company has a debt-to-equity ratio of 1.39, a quick ratio of 1.18 and a current ratio of 1.18.

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

Equinix Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 17th. Stockholders of record on Wednesday, May 20th were issued a dividend of $5.16 per share. This represents a $20.64 annualized dividend and a dividend yield of 2.0%. The ex-dividend date was Wednesday, May 20th. Equinix’s dividend payout ratio is currently 142.84%.

Insiders Place Their Bets

In other Equinix news, Director Christopher B. Paisley sold 125 shares of the stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $1,060.29, for a total value of $132,536.25. Following the completion of the sale, the director directly owned 17,557 shares in the company, valued at approximately $18,615,511.53. This trade represents a 0.71% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Brandi Galvin Morandi sold 3,726 shares of the business’s stock in a transaction dated 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 sale, the insider owned 6,132 shares in the company, valued at $6,600,239.52. The trade was a 37.80% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 11,115 shares of company stock worth $12,022,574. 0.27% of the stock is currently owned by company insiders.

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.