Ardmore Road Asset Management LP Purchases 16,274 Shares of Equinix, Inc. $EQIX

Ardmore Road Asset Management LP grew its position in shares of Equinix, Inc. (NASDAQ:EQIX) by 34.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 63,000 shares of the financial services provider’s stock after purchasing an additional 16,274 shares during the quarter. Equinix makes up about 4.1% of Ardmore Road Asset Management LP’s portfolio, making the stock its 3rd biggest holding. Ardmore Road Asset Management LP owned 0.06% of Equinix worth $61,755,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in EQIX. Delta Global Management LP acquired a new position in Equinix in the 1st quarter worth about $2,541,000. Cypress Capital Group acquired a new stake in Equinix in the first quarter valued at approximately $232,000. Entropy Technologies LP purchased a new stake in shares of Equinix in the first quarter valued at approximately $3,136,000. Sustainable Insight Capital Management LLC raised its stake in shares of Equinix by 250.0% during the 1st quarter. Sustainable Insight Capital Management LLC now owns 1,008 shares of the financial services provider’s stock worth $988,000 after buying an additional 720 shares during the period. Finally, Bridgewater Advisors Inc. raised its stake in shares of Equinix by 8.0% during the 1st quarter. Bridgewater Advisors Inc. now owns 515 shares of the financial services provider’s stock worth $540,000 after buying an additional 38 shares during the period. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Equinix news, Director Christopher B. Paisley sold 125 shares of the company’s stock in a transaction on 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 $18,615,511.53. This represents a 0.71% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Raouf Abdel sold 2,040 shares of the firm’s stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $1,083.47, for a total value of $2,210,278.80. Following the completion of the sale, the executive vice president directly owned 5,728 shares of the company’s stock, valued at $6,206,116.16. This trade represents a 26.26% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 11,115 shares of company stock worth $12,022,574. 0.27% of the stock is currently owned by corporate insiders.

Equinix Price Performance

Equinix stock opened at $1,084.24 on Monday. Equinix, Inc. has a 52-week low of $720.62 and a 52-week high of $1,128.68. The firm has a market capitalization of $106.93 billion, a price-to-earnings ratio of 75.03, a PEG ratio of 2.01 and a beta of 0.98. The company has a fifty day simple moving average of $1,056.85 and a 200-day simple moving average of $987.85. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 1.39.

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

Equinix Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 17th. Shareholders of record on Wednesday, May 20th were paid 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 payout ratio is 142.84%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Wall Street Zen upgraded Equinix from a “sell” rating to a “hold” rating in a research report on Saturday, May 2nd. Oppenheimer restated an “outperform” rating and set a $1,200.00 price objective on shares of Equinix in a research report on Thursday, April 30th. Truist Financial set a $1,215.00 price objective on shares of Equinix in a report on Friday, May 1st. TD Cowen lifted 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 report on Thursday, April 30th. Finally, Evercore reissued an “outperform” rating and set a $1,240.00 target price on shares of Equinix in a research note on Tuesday, April 28th. Three analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $1,153.79.

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.