Equinix, Inc. $EQIX Shares Purchased by Hudson Bay Capital Management LP
by Sarita Garza · The Markets DailyHudson Bay Capital Management LP increased its holdings in Equinix, Inc. (NASDAQ:EQIX – Free Report) by 5,346.3% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 14,705 shares of the financial services provider’s stock after acquiring an additional 14,435 shares during the period. Hudson Bay Capital Management LP’s holdings in Equinix were worth $11,697,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Geneos Wealth Management Inc. increased its position in shares of Equinix by 17.7% during the 2nd quarter. Geneos Wealth Management Inc. now owns 4,710 shares of the financial services provider’s stock worth $3,747,000 after purchasing an additional 707 shares during the last quarter. Ashford Capital Management Inc. boosted its stake in Equinix by 0.9% during the second quarter. Ashford Capital Management Inc. now owns 24,599 shares of the financial services provider’s stock worth $19,568,000 after buying an additional 209 shares during the period. Front Row Advisors LLC increased its position in shares of Equinix by 2.3% during the second quarter. Front Row Advisors LLC now owns 3,667 shares of the financial services provider’s stock valued at $2,917,000 after acquiring an additional 84 shares during the last quarter. Evergreen Capital Management LLC raised its stake in shares of Equinix by 8.4% in the 2nd quarter. Evergreen Capital Management LLC now owns 477 shares of the financial services provider’s stock valued at $379,000 after acquiring an additional 37 shares during the period. Finally, CANADA LIFE ASSURANCE Co raised its stake in shares of Equinix by 9.1% in the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 262,374 shares of the financial services provider’s stock valued at $208,857,000 after acquiring an additional 21,821 shares during the period. Hedge funds and other institutional investors own 94.94% of the company’s stock.
Analysts Set New Price Targets
A number of equities analysts recently weighed in on EQIX shares. JPMorgan Chase & Co. increased their price objective on shares of Equinix from $940.00 to $950.00 and gave the stock an “overweight” rating in a research report on Thursday, October 30th. Wall Street Zen upgraded Equinix from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. TD Cowen boosted their price objective on Equinix from $993.00 to $995.00 and gave the company a “buy” rating in a report on Thursday, October 30th. Morgan Stanley initiated coverage on Equinix in a research note on Thursday, October 16th. They set an “overweight” rating and a $950.00 target price on the stock. Finally, Daiwa Capital Markets set a $917.00 target price on Equinix and gave the company an “outperform” rating in a research report on Wednesday, October 22nd. Four equities research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $958.15.
Read Our Latest Stock Analysis on EQIX
Insider Buying and Selling
In related news, insider Kurt Pletcher sold 290 shares of the business’s stock in a transaction on Tuesday, December 2nd. The shares were sold at an average price of $731.19, for a total transaction of $212,045.10. Following the completion of the transaction, the insider owned 2,433 shares in the company, valued at approximately $1,778,985.27. The trade was a 10.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Chairman Charles J. Meyers sold 5,087 shares of the stock in a transaction on Monday, November 17th. The shares were sold at an average price of $778.47, for a total value of $3,960,076.89. Following the completion of the transaction, the chairman directly owned 10,426 shares in the company, valued at $8,116,328.22. This trade represents a 32.79% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 8,704 shares of company stock valued at $6,617,748 over the last ninety days. 0.27% of the stock is currently owned by corporate insiders.
Equinix Stock Down 0.5%
Shares of NASDAQ EQIX opened at $750.32 on Monday. The stock has a market cap of $73.67 billion, a P/E ratio of 68.71, a PEG ratio of 1.53 and a beta of 1.05. The business’s fifty day simple moving average is $789.62 and its 200-day simple moving average is $799.79. Equinix, Inc. has a 12-month low of $701.41 and a 12-month high of $982.98. The company has a current ratio of 1.62, a quick ratio of 1.62 and a debt-to-equity ratio of 1.32.
Equinix (NASDAQ:EQIX – Get Free Report) last issued its quarterly earnings results on Wednesday, October 29th. The financial services provider reported $9.83 earnings per share for the quarter, topping the consensus estimate of $9.27 by $0.56. The company had revenue of $2.32 billion for the quarter, compared to the consensus estimate of $2.33 billion. Equinix had a return on equity of 7.70% and a net margin of 11.82%.Equinix’s revenue was up 5.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $9.05 EPS. Equinix has set its FY 2025 guidance at 37.950-38.77 EPS. As a group, equities analysts predict that Equinix, Inc. will post 33.1 EPS for the current fiscal year.
Equinix Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 17th. Investors of record on Wednesday, November 19th will be issued a $4.69 dividend. The ex-dividend date of this dividend is Wednesday, November 19th. This represents a $18.76 annualized dividend and a yield of 2.5%. Equinix’s dividend payout ratio (DPR) is 171.79%.
About Equinix
Equinix (Nasdaq: EQIX) is the world's digital infrastructure company . Digital leaders harness Equinix's trusted platform to bring together and interconnect foundational infrastructure at software speed. Equinix enables organizations to access all the right places, partners and possibilities to scale with agility, speed the launch of digital services, deliver world-class experiences and multiply their value, while supporting their sustainability goals.
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