Equinix Sees Stake Boost From Aew Capital Following Strong Earnings

Aew Capital Management Inc. acquired a new stake in Equinix, Inc. during the third quarter, purchasing 119,316 shares valued at approximately $120,698,000. According to a regulatory filing, the position accounts for 7.9% of the firm's portfolio, making the stock its second-largest holding and giving it 0.12% ownership of the company.

The purchase comes as several other institutional investors adjusted their holdings. Pictet Asset Management Holding SA raised its position by 31.5% in the third quarter to 313,578 shares, and Fulcrum Asset Management LLP expanded its stake by 10,138.6% to 11,672 shares. Conversely, M&G PLC reduced its investment by 20.9% in the same quarter, selling 47,349 shares to hold 179,118 shares. Institutional investors and hedge funds collectively hold 94.94% of the equity.

Corporate insiders have also recorded share sales. Insider Kurt Pletcher sold 198 shares on Friday, November 6th, at an average price of $1,014.18, totaling $200,807.64. In total, company insiders have offloaded 968 shares valued at $1,007,885 over the past quarter and retain a 0.27% stake in the firm.

On Wednesday, October 28th, Equinix reported quarterly revenue of $2.57 billion, up 11.0% compared to the same period in the prior year and surpassing expectations of $2.56 billion. Adjusted earnings reached $4.93 per share, topping the analyst consensus estimate of $4.11. The company also declared a quarterly dividend of $5.16 per share, payable on Wednesday, December 16th, to shareholders of record on Wednesday, November 18th.

Wall Street coverage remains generally favorable. MarketBeat reports a consensus rating of Moderate Buy, with an average price target of $1,234.13 based on ratings from 32 analysts, including two strong buy, 26 buy, and four hold recommendations. Individual recent actions include TD Cowen lifting its target price to $1,210.00 with a buy rating and JPMorgan Chase & Co. boosting its target to $1,350.00 with an overweight rating.