Equinix Inc (NASDAQ:EQIX) saw its stock increase by 2.9% following Bloomberg’s report that activist investor Elliott Investment Management has expanded its holdings in the data center giant and is advocating for initiatives aimed at boosting the company’s stock price.
According to insiders, Elliott’s stake has grown to place it among Equinix’s top 10 shareholders. Although the exact size of the position remains confidential, regulatory filings indicate Elliott holds at least 150,000 shares, roughly 0.2% of the California-based firm.
The activist investor began building its position after Equinix’s recent analyst day, where the company disclosed higher capital expenditure plans that led to the stock’s steepest single-day drop since 2020.
Sources suggest Elliott may seek operational improvements such as enhanced profit margins, the launch of a share repurchase program, or revisions to the existing capital spending strategy. Reports describe the dialogue between Elliott and Equinix’s leadership as constructive and cooperative to date.
Equinix shares have declined over 16% so far this year, resulting in a market value near $76 billion. The stock’s recent gains reflect investor optimism that shareholder-friendly measures driven by Elliott could unlock additional value.
Elliott Investment Management has not yet provided a comment on the matter.
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