Equinix, Inc. $EQIX Stake Lessened by Hudson Bay Capital Management LP

Hudson Bay Capital Management LP lessened its holdings in Equinix, Inc. (NASDAQ:EQIX) by 97.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 392 shares of the financial services provider’s stock after selling 14,313 shares during the period. Hudson Bay Capital Management LP’s holdings in Equinix were worth $307,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Vanguard Group Inc. raised its position in Equinix by 1.2% during the third quarter. Vanguard Group Inc. now owns 13,291,679 shares of the financial services provider’s stock valued at $10,410,575,000 after buying an additional 162,638 shares during the period. State Street Corp boosted its position in Equinix by 3.7% during the 2nd quarter. State Street Corp now owns 6,249,780 shares of the financial services provider’s stock worth $4,971,512,000 after acquiring an additional 220,981 shares during the period. JPMorgan Chase & Co. grew its stake in Equinix by 25.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,875,355 shares of the financial services provider’s stock valued at $2,252,094,000 after acquiring an additional 588,967 shares in the last quarter. Principal Financial Group Inc. grew its stake in Equinix by 3.0% during the 3rd quarter. Principal Financial Group Inc. now owns 1,969,498 shares of the financial services provider’s stock valued at $1,542,595,000 after acquiring an additional 56,592 shares in the last quarter. Finally, APG Asset Management US Inc. increased its holdings in shares of Equinix by 0.4% in the 3rd quarter. APG Asset Management US Inc. now owns 1,211,357 shares of the financial services provider’s stock valued at $937,530,000 after purchasing an additional 5,109 shares during the period. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Insiders Place Their Bets

In other Equinix news, Chairman Charles J. Meyers sold 305 shares of the business’s stock in a transaction on Thursday, March 12th. The shares were sold at an average price of $961.19, for a total transaction of $293,162.95. Following the completion of the transaction, the chairman owned 12,594 shares of the company’s stock, valued at $12,105,226.86. The trade was a 2.36% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Brandi Galvin Morandi sold 630 shares of the company’s stock in a transaction dated Thursday, March 12th. The shares were sold at an average price of $961.19, for a total transaction of $605,549.70. Following the sale, the insider owned 10,394 shares of the company’s stock, valued at $9,990,608.86. This trade represents a 5.71% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 16,842 shares of company stock valued at $14,494,840 in the last three months. Company insiders own 0.27% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on EQIX. Barclays increased their price target on shares of Equinix from $870.00 to $1,020.00 and gave the stock an “equal weight” rating in a research report on Wednesday, March 18th. Wall Street Zen lowered shares of Equinix from a “hold” rating to a “sell” rating in a research note on Saturday, January 10th. Sanford C. Bernstein started coverage on shares of Equinix in a research report on Thursday, March 5th. They issued an “outperform” rating and a $1,128.00 target price for the company. UBS Group lifted their target price on shares of Equinix from $950.00 to $1,010.00 and gave the company a “buy” rating in a research note on Thursday, February 12th. Finally, Guggenheim boosted their price target on shares of Equinix from $933.00 to $985.00 and gave the company a “buy” rating in a report on Thursday, February 12th. Three investment analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and six have given a Hold rating to the company. According to MarketBeat, Equinix presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,013.43.

Equinix Stock Performance

Shares of NASDAQ EQIX opened at $966.96 on Tuesday. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.32 and a current ratio of 1.32. The firm has a market cap of $95.00 billion, a price-to-earnings ratio of 70.32, a P/E/G ratio of 2.47 and a beta of 1.04. The business’s 50-day simple moving average is $894.44 and its 200-day simple moving average is $822.32. Equinix, Inc. has a 52 week low of $701.41 and a 52 week high of $992.90.

Equinix (NASDAQ:EQIX) last posted its earnings results on Wednesday, February 11th. The financial services provider reported $8.91 earnings per share for the quarter, missing the consensus estimate of $9.07 by ($0.16). The company had revenue of $2.42 billion during the quarter, compared to analyst estimates of $2.46 billion. Equinix had a return on equity of 9.60% and a net margin of 14.65%.The firm’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same quarter last year, the firm posted $7.92 earnings per share. As a group, equities research analysts expect that Equinix, Inc. will post 33.1 earnings per share for the current fiscal year.

Equinix Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 18th. Stockholders of record on Wednesday, February 25th were paid a $5.16 dividend. The ex-dividend date was Wednesday, February 25th. This is a positive change from Equinix’s previous quarterly dividend of $4.69. This represents a $20.64 dividend on an annualized basis and a dividend yield of 2.1%. Equinix’s dividend payout ratio is presently 150.11%.

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.