Resolution Capital Ltd Purchases 85,847 Shares of Equinix, Inc. $EQIX

Resolution Capital Ltd lifted its position in shares of Equinix, Inc. (NASDAQ:EQIX) by 15.3% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 647,648 shares of the financial services provider’s stock after purchasing an additional 85,847 shares during the quarter. Equinix comprises approximately 13.3% of Resolution Capital Ltd’s holdings, making the stock its 2nd largest holding. Resolution Capital Ltd’s holdings in Equinix were worth $634,850,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. SJS Investment Consulting Inc. lifted its position in Equinix by 27.3% during the first quarter. SJS Investment Consulting Inc. now owns 42 shares of the financial services provider’s stock valued at $41,000 after buying an additional 9 shares in the last quarter. Avion Wealth increased its position in shares of Equinix by 73.3% in the first quarter. Avion Wealth now owns 26 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 11 shares in the last quarter. Blue Trust Inc. raised its stake in shares of Equinix by 1.3% in the 1st quarter. Blue Trust Inc. now owns 931 shares of the financial services provider’s stock valued at $912,000 after acquiring an additional 12 shares during the period. Cornerstone Planning Group LLC raised its stake in shares of Equinix by 30.8% in the 1st quarter. Cornerstone Planning Group LLC now owns 51 shares of the financial services provider’s stock valued at $54,000 after acquiring an additional 12 shares during the period. Finally, Cary Street Partners Investment Advisory LLC lifted its holdings in shares of Equinix by 2.7% during the 4th quarter. Cary Street Partners Investment Advisory LLC now owns 498 shares of the financial services provider’s stock valued at $382,000 after acquiring an additional 13 shares in the last quarter. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on EQIX shares. Morgan Stanley increased their price target on Equinix from $1,075.00 to $1,250.00 and gave the company an “overweight” rating in a report on Monday, April 13th. Cantor Fitzgerald upped their target price on Equinix from $1,173.00 to $1,186.00 and gave the stock an “overweight” rating in a research report on Friday, May 1st. Oppenheimer reiterated an “outperform” rating and set a $1,200.00 target price on shares of Equinix in a report on Thursday, April 30th. HSBC boosted their price target on Equinix from $1,100.00 to $1,250.00 and gave the stock a “buy” rating in a research report on Monday, April 27th. Finally, Guggenheim restated a “buy” rating and issued a $1,235.00 price target on shares of Equinix in a report on Wednesday, May 20th. Three research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Equinix currently has a consensus rating of “Moderate Buy” and an average target price of $1,153.79.

Equinix Stock Performance

Equinix stock opened at $1,034.86 on Wednesday. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.18 and a quick ratio of 1.18. Equinix, Inc. has a 12 month low of $720.62 and a 12 month high of $1,128.68. The company has a fifty day moving average price of $1,056.26 and a two-hundred day moving average price of $991.49. The company has a market cap of $102.06 billion, a PE ratio of 71.62, a P/E/G ratio of 1.94 and a beta of 0.98.

Equinix (NASDAQ:EQIX) last issued its earnings results on Wednesday, April 29th. The financial services provider reported $10.79 earnings per share for the quarter, topping 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 analysts’ expectations of $2.52 billion. During the same period in the prior year, the company earned $9.67 earnings per share. The firm’s revenue was up 9.8% compared to the same quarter last year. Research analysts expect that Equinix, Inc. will post 38.25 earnings per share for the current year.

Insider Buying and Selling at Equinix

In related news, EVP Raouf Abdel sold 2,040 shares of the business’s stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $1,083.47, for a total transaction of $2,210,278.80. Following the completion of the sale, the executive vice president owned 5,728 shares of the company’s stock, valued at $6,206,116.16. This represents a 26.26% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Charles J. Meyers sold 5,224 shares of the stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of $1,085.23, for a total transaction of $5,669,241.52. Following the sale, the chairman owned 7,370 shares in the company, valued at approximately $7,998,145.10. This trade represents a 41.48% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 11,115 shares of company stock worth $12,022,574 in the last quarter. 0.27% of the stock is currently owned by corporate insiders.

Equinix Company 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.