Southpoint Capital Advisors LP Invests $245.06 Million in Equinix, Inc. $EQIX

Southpoint Capital Advisors LP acquired a new stake in shares of Equinix, Inc. (NASDAQ:EQIX) during the first quarter, Holdings Channel reports. The institutional investor acquired 250,000 shares of the financial services provider’s stock, valued at approximately $245,060,000. Equinix makes up about 5.0% of Southpoint Capital Advisors LP’s holdings, making the stock its 5th biggest holding.

Several other hedge funds have also recently made changes to their positions in EQIX. Brighton Jones LLC lifted its position in Equinix by 28.9% during the 4th quarter. Brighton Jones LLC now owns 326 shares of the financial services provider’s stock worth $307,000 after acquiring an additional 73 shares during the period. Integrated Wealth Concepts LLC increased its holdings in shares of Equinix by 11.5% in the first quarter. Integrated Wealth Concepts LLC now owns 522 shares of the financial services provider’s stock valued at $425,000 after purchasing an additional 54 shares during the period. Empowered Funds LLC raised its stake in shares of Equinix by 21.8% in the first quarter. Empowered Funds LLC now owns 3,050 shares of the financial services provider’s stock worth $2,487,000 after purchasing an additional 546 shares during the last quarter. Schnieders Capital Management LLC. purchased a new position in shares of Equinix in the second quarter worth about $231,000. Finally, Brown Advisory Inc. lifted its holdings in shares of Equinix by 2.8% during the second quarter. Brown Advisory Inc. now owns 1,074 shares of the financial services provider’s stock worth $854,000 after purchasing an additional 29 shares during the period. 94.94% of the stock is owned by institutional investors and hedge funds.

Equinix Trading Down 3.5%

Shares of Equinix stock opened at $1,046.79 on Tuesday. The firm has a 50-day simple moving average of $1,056.53 and a two-hundred day simple moving average of $989.67. 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, Inc. has a fifty-two week low of $720.62 and a fifty-two week high of $1,128.68. The company has a market cap of $103.23 billion, a P/E ratio of 72.44, a price-to-earnings-growth ratio of 2.01 and a beta of 0.98.

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

Equinix Announces Dividend

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

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Mizuho upped their target price on Equinix from $1,165.00 to $1,200.00 and gave the company an “outperform” rating in a research report on Thursday, May 7th. Cantor Fitzgerald raised their price target on shares of Equinix from $1,173.00 to $1,186.00 and gave the stock an “overweight” rating in a research report on Friday, May 1st. Guggenheim restated a “buy” rating and set a $1,235.00 price objective on shares of Equinix in a research note on Wednesday, May 20th. Raymond James Financial raised shares of Equinix from a “market perform” rating to a “strong-buy” rating and set a $1,250.00 price objective on the stock in a report on Thursday, April 30th. Finally, Wells Fargo & Company increased their price objective on shares of Equinix from $975.00 to $1,200.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 21st. 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’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $1,153.79.

Insiders Place Their Bets

In other news, insider Brandi Galvin Morandi sold 3,726 shares of the stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $1,076.36, for a total transaction of $4,010,517.36. Following the transaction, the insider owned 6,132 shares in the company, valued at $6,600,239.52. This trade represents a 37.80% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at 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 stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $1,083.47, for a total value of $2,210,278.80. Following the transaction, the executive vice president owned 5,728 shares in the company, valued at $6,206,116.16. This trade represents a 26.26% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 11,115 shares of company stock valued at $12,022,574 in the last three months. 0.27% of the stock is currently owned by company insiders.

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.