Alkeon Capital Management LLC Sells 125,000 Shares of Equinix, Inc. $EQIX

Alkeon Capital Management LLC lowered its position in shares of Equinix, Inc. (NASDAQ:EQIX) by 34.8% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 233,775 shares of the financial services provider’s stock after selling 125,000 shares during the period. Alkeon Capital Management LLC owned about 0.24% of Equinix worth $185,961,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in EQIX. Campbell & CO Investment Adviser LLC increased its holdings in Equinix by 21.1% in the second quarter. Campbell & CO Investment Adviser LLC now owns 384 shares of the financial services provider’s stock valued at $305,000 after purchasing an additional 67 shares during the period. Elliott Investment Management L.P. bought a new stake in shares of Equinix in the 1st quarter valued at about $122,302,000. Gradient Investments LLC increased its stake in shares of Equinix by 19.4% in the second quarter. Gradient Investments LLC now owns 24,684 shares of the financial services provider’s stock valued at $19,635,000 after buying an additional 4,015 shares during the period. Partners Group Holding AG raised its position in shares of Equinix by 10.6% during the first quarter. Partners Group Holding AG now owns 51,787 shares of the financial services provider’s stock worth $42,225,000 after acquiring an additional 4,968 shares during the last quarter. Finally, Focus Partners Wealth raised its holdings in Equinix by 19.4% during the 1st quarter. Focus Partners Wealth now owns 2,573 shares of the financial services provider’s stock worth $2,098,000 after purchasing an additional 418 shares during the last quarter. 94.94% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, Chairman Charles J. Meyers sold 5,087 shares of the company’s stock in a transaction on Monday, November 17th. The stock was sold at an average price of $778.47, for a total transaction of $3,960,076.89. Following the completion of the sale, the chairman owned 10,426 shares in the company, valued at approximately $8,116,328.22. This represents a 32.79% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Jonathan Lin sold 124 shares of the company’s stock in a transaction on Tuesday, December 2nd. The stock was sold at an average price of $731.18, for a total transaction of $90,666.32. Following the completion of the sale, the insider owned 8,299 shares of the company’s stock, valued at approximately $6,068,062.82. The trade was a 1.47% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 8,704 shares of company stock worth $6,617,748 in the last 90 days. Company insiders own 0.27% of the company’s stock.

Equinix Trading Down 0.5%

Shares of Equinix stock opened at $750.32 on Friday. The company has a debt-to-equity ratio of 1.32, a quick ratio of 1.62 and a current ratio of 1.62. Equinix, Inc. has a 52 week low of $701.41 and a 52 week high of $982.98. The stock has a 50 day moving average price of $789.62 and a two-hundred day moving average price of $800.89. The stock has a market capitalization of $73.67 billion, a PE ratio of 68.71, a price-to-earnings-growth ratio of 1.53 and a beta of 1.05.

Equinix (NASDAQ:EQIX) last posted its quarterly earnings results on Wednesday, October 29th. The financial services provider reported $9.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $9.27 by $0.56. The business had revenue of $2.32 billion during the quarter, compared to the consensus estimate of $2.33 billion. Equinix had a net margin of 11.82% and a return on equity of 7.70%. Equinix’s revenue was up 5.2% compared to the same quarter last year. During the same quarter last year, the firm posted $9.05 EPS. Equinix has set its FY 2025 guidance at 37.950-38.77 EPS. As a group, equities analysts anticipate that Equinix, Inc. will post 33.1 earnings per share for the current fiscal year.

Equinix Announces Dividend

The firm 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. This represents a $18.76 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date is Wednesday, November 19th. Equinix’s dividend payout ratio is currently 171.79%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on EQIX shares. Daiwa Capital Markets set a $917.00 price objective on shares of Equinix and gave the company an “outperform” rating in a research note on Wednesday, October 22nd. BMO Capital Markets raised Equinix from a “market perform” rating to an “outperform” rating and set a $900.00 price objective on the stock in a research note on Wednesday, December 3rd. TD Cowen upped their target price on Equinix from $993.00 to $995.00 and gave the company a “buy” rating in a research report on Thursday, October 30th. Weiss Ratings reiterated a “hold (c)” rating on shares of Equinix in a report on Wednesday, October 8th. Finally, JPMorgan Chase & Co. increased their price target on Equinix from $940.00 to $950.00 and gave the stock an “overweight” rating in a report on Thursday, October 30th. Four equities research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $958.15.

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.