Barton Investment Management Cuts Position in Equinix, Inc. $EQIX

Barton Investment Management lowered its holdings in shares of Equinix, Inc. (NASDAQ:EQIX) by 6.9% in the 1st quarter, HoldingsChannel reports. The firm owned 32,840 shares of the financial services provider’s stock after selling 2,416 shares during the period. Equinix makes up approximately 4.0% of Barton Investment Management’s holdings, making the stock its 5th largest holding. Barton Investment Management’s holdings in Equinix were worth $32,191,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of EQIX. Vanguard Group Inc. raised its position in shares of Equinix by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 13,398,906 shares of the financial services provider’s stock worth $10,265,706,000 after purchasing an additional 107,227 shares during the period. Cohen & Steers Inc. lifted its holdings in shares of Equinix by 23.3% in the 4th quarter. Cohen & Steers Inc. now owns 2,609,011 shares of the financial services provider’s stock worth $1,998,978,000 after purchasing an additional 493,141 shares in the last quarter. Geode Capital Management LLC grew its position in Equinix by 1.0% in the 4th quarter. Geode Capital Management LLC now owns 2,567,830 shares of the financial services provider’s stock valued at $1,959,731,000 after purchasing an additional 25,383 shares during the period. Northern Trust Corp grew its position in Equinix by 0.6% in the 4th quarter. Northern Trust Corp now owns 1,500,506 shares of the financial services provider’s stock valued at $1,149,628,000 after purchasing an additional 9,614 shares during the period. Finally, Norges Bank bought a new stake in Equinix during the 4th quarter valued at $984,355,000. 94.94% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Wall Street Zen upgraded shares of Equinix from a “sell” rating to a “hold” rating in a report on Saturday, May 2nd. Weiss Ratings downgraded shares of Equinix from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday. HSBC upped their target price on shares of Equinix from $1,100.00 to $1,250.00 and gave the stock a “buy” rating in a report on Monday, April 27th. Wells Fargo & Company raised their price target on shares of Equinix from $975.00 to $1,200.00 and gave the company an “overweight” rating in a research report on Tuesday, April 21st. Finally, Morgan Stanley lifted their price target on Equinix from $1,075.00 to $1,250.00 and gave the company an “overweight” rating in a research note on Monday, April 13th. Three equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, Equinix has a consensus rating of “Moderate Buy” and a consensus target price of $1,151.67.

Equinix Price Performance

EQIX opened at $1,087.61 on Friday. Equinix, Inc. has a 1 year low of $710.52 and a 1 year high of $1,128.68. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.18 and a quick ratio of 1.18. The company has a market capitalization of $107.26 billion, a price-to-earnings ratio of 75.27, a P/E/G ratio of 2.03 and a beta of 0.99. The firm’s fifty day moving average price is $1,078.80 and its two-hundred day moving average price is $947.16.

Equinix (NASDAQ:EQIX) last announced its earnings results on Wednesday, April 29th. The financial services provider reported $10.79 EPS for the quarter, beating the consensus estimate of $4.30 by $6.49. Equinix had a net margin of 15.07% and a return on equity of 10.03%. The company had revenue of $2.44 billion during the quarter, compared to the consensus estimate of $2.52 billion. During the same quarter in the prior year, the company posted $9.67 earnings per share. The firm’s revenue for the quarter 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, analysts anticipate that Equinix, Inc. will post 38.26 earnings per share for the current fiscal year.

Equinix Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 17th. Shareholders of record on Wednesday, May 20th were given a $5.16 dividend. This represents a $20.64 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date of this dividend was Wednesday, May 20th. Equinix’s dividend payout ratio is presently 142.84%.

Insiders Place Their Bets

In related news, EVP Raouf Abdel sold 2,040 shares of Equinix stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $1,083.47, for a total transaction of $2,210,278.80. Following the sale, the executive vice president directly owned 5,728 shares in the company, valued at approximately $6,206,116.16. This trade represents a 26.26% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman Charles J. Meyers sold 5,224 shares of the business’s stock in a transaction on Wednesday, May 6th. The stock was sold at an average price of $1,085.23, for a total value of $5,669,241.52. Following the completion of the transaction, the chairman directly owned 7,370 shares in the company, valued at approximately $7,998,145.10. This represents a 41.48% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 11,539 shares of company stock valued at $12,455,054. Insiders own 0.27% of the company’s stock.

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.