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

Ardmore Road Asset Management LP boosted its stake in shares of Equinix, Inc. (NASDAQ:EQIX) by 34.8% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 63,000 shares of the financial services provider’s stock after acquiring an additional 16,274 shares during the quarter. Equinix makes up 4.1% of Ardmore Road Asset Management LP’s investment portfolio, making the stock its 3rd biggest position. Ardmore Road Asset Management LP’s holdings in Equinix were worth $61,755,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in Equinix by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 13,398,906 shares of the financial services provider’s stock worth $10,265,706,000 after acquiring an additional 107,227 shares in the last quarter. Cohen & Steers Inc. lifted its position in shares of Equinix by 23.3% during the fourth 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 boosted its stake in shares of Equinix by 1.0% in the fourth 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. Principal Financial Group Inc. boosted its stake in shares of Equinix by 1.4% in the first quarter. Principal Financial Group Inc. now owns 1,980,497 shares of the financial services provider’s stock valued at $1,941,377,000 after purchasing an additional 27,643 shares during the period. Finally, Northern Trust Corp grew its holdings in shares of Equinix by 0.6% in the fourth 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 in the last quarter. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Equinix Price Performance

Shares of Equinix stock opened at $1,084.24 on Monday. 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, Inc. has a 52-week low of $720.62 and a 52-week high of $1,128.68. The company has a market capitalization of $106.93 billion, a P/E ratio of 75.03, a P/E/G ratio of 2.01 and a beta of 0.98. The company has a 50 day moving average of $1,056.85 and a 200 day moving average of $987.85.

Equinix (NASDAQ:EQIX) last announced its quarterly earnings data 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 net margin of 15.07% and a return on equity of 10.03%. The company had revenue of $2.44 billion for the quarter, compared to the consensus estimate of $2.52 billion. During the same period in the prior year, the firm posted $9.67 EPS. The company’s quarterly revenue was up 9.8% compared to the same quarter last year. Equinix has set its FY 2026 guidance at 42.310-43.110 EPS. As a group, research analysts forecast that Equinix, Inc. will post 38.25 EPS for the current fiscal year.

Equinix Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 17th. Investors of record on Wednesday, May 20th were issued a $5.16 dividend. This represents a $20.64 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend was Wednesday, May 20th. Equinix’s dividend payout ratio is 142.84%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on EQIX shares. Weiss Ratings downgraded shares of Equinix from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday. Cantor Fitzgerald raised their price target on shares of Equinix from $1,173.00 to $1,186.00 and gave the company an “overweight” rating in a research report on Friday, May 1st. Zacks Research downgraded shares of Equinix from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 15th. Scotiabank upped their price objective on Equinix from $1,050.00 to $1,120.00 and gave the stock a “sector perform” rating in a research report on Thursday, April 30th. Finally, Citigroup increased their price objective on Equinix from $1,240.00 to $1,260.00 and gave the company a “buy” rating in a research note on Monday, June 29th. 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 stock. According to data from MarketBeat.com, Equinix presently has a consensus rating of “Moderate Buy” and an average price target of $1,153.79.

Insiders Place Their Bets

In other Equinix news, Director Christopher B. Paisley sold 125 shares of the firm’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 sale, the director directly owned 17,557 shares in the company, valued at $18,615,511.53. This trade represents a 0.71% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Raouf Abdel sold 2,040 shares of Equinix stock in a transaction dated 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 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. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 11,115 shares of company stock worth $12,022,574. 0.27% of the stock is owned by corporate 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.