Balyasny Asset Management L.P. Lowers Stock Position in Equinix, Inc. $EQIX

Balyasny Asset Management L.P. reduced its position in Equinix, Inc. (NASDAQ:EQIX) by 42.9% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 123,983 shares of the financial services provider’s stock after selling 93,216 shares during the period. Balyasny Asset Management L.P.’s holdings in Equinix were worth $98,625,000 at the end of the most recent quarter.

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

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Daiwa Capital Markets set a $917.00 price objective on shares of Equinix and gave the stock an “outperform” rating in a research report on Wednesday, October 22nd. Wall Street Zen upgraded Equinix from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. JPMorgan Chase & Co. boosted their price objective on Equinix from $940.00 to $950.00 and gave the stock an “overweight” rating in a research note on Thursday, October 30th. Cowen reaffirmed a “buy” rating on shares of Equinix in a research report on Thursday, October 30th. Finally, Barclays increased their target price on Equinix from $798.00 to $804.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 20th. Four research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $958.15.

Insider Buying and Selling at Equinix

In related news, insider Kurt Pletcher sold 290 shares of Equinix stock in a transaction on Tuesday, December 2nd. The shares were sold at an average price of $731.19, for a total value of $212,045.10. Following the completion of the sale, 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 filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jonathan Lin sold 124 shares of the stock in a transaction on Tuesday, December 2nd. The shares were sold at an average price of $731.18, for a total transaction of $90,666.32. Following the transaction, the insider owned 8,299 shares in the company, valued at $6,068,062.82. This trade represents a 1.47% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 8,704 shares of company stock valued at $6,617,748. Corporate insiders own 0.27% of the company’s stock.

Equinix Stock Performance

NASDAQ:EQIX opened at $750.32 on Friday. The firm has a 50-day moving average of $789.62 and a two-hundred day moving average of $800.89. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.62 and a quick ratio of 1.62. 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. Equinix, Inc. has a 1-year low of $701.41 and a 1-year high of $982.98.

Equinix (NASDAQ:EQIX) last announced its earnings results on Wednesday, October 29th. The financial services provider reported $9.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $9.27 by $0.56. The business had revenue of $2.32 billion for the quarter, compared to analyst estimates of $2.33 billion. Equinix had a return on equity of 7.70% and a net margin of 11.82%.The company’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same period in the previous year, the company earned $9.05 earnings per share. Equinix has set its FY 2025 guidance at 37.950-38.77 EPS. On average, research analysts expect that Equinix, Inc. will post 33.1 earnings per share for the current fiscal year.

Equinix Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 17th. Stockholders of record on Wednesday, November 19th will be paid a dividend of $4.69 per share. This represents a $18.76 annualized dividend and a dividend yield of 2.5%. The ex-dividend date is Wednesday, November 19th. Equinix’s dividend payout ratio is 171.79%.

Equinix Profile

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.