Coatue Management Starts New Position in Equinix (EQIX) ~ market folly

Tuesday, March 20, 2012

Coatue Management Starts New Position in Equinix (EQIX)

Philippe Laffont's hedge fund Coatue Management has initiated a brand new position in Equinix (EQIX). The fund filed a 13G with the SEC revealing that they now own 6.7% of the company.

Coatue owns 3,127,341 shares and filed the disclosure due to portfolio activity on March 8th. Shares of Equinix have rocketed higher in 2012, starting the year at around $100 per share and now trading around $140 per share.

Other large institutional owners of EQIX as of year-end 2011 include Lone Pine Capital, Eminence Capital, Highland Capital Management, and Millennium Management.

Per Google Finance, Equinix is "connects businesses with partners and customers globally through a global platform of data centers, containing dynamic ecosystems and a range of networks."

To see more of Coatue's investments, head to the new issue of our Hedge Fund Wisdom newsletter.

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