Is It Too Late to Buy Equinix (EQIX) Stock?
RiverPark Advisors, LLC recently published its Q4 2020 RiverPark Large Growth Fund commentary – a copy of which can be downloaded here. During the fourth quarter of 2020, the RiverPark Large Growth Fund returned 18.66% (institutional shares), compared to the total return of 12.15% by the S&P 500 Index. You should check out RiverPark’s top 5 stock picks for investors to buy right now, which could be the biggest winners of 2021.
In the Q4 2020 Investor Letter, the fund highlighted a few stocks and Equinix Inc (NASDAQ:EQIX) is one of them. Equinix Inc (NASDAQ:EQIX) specializes in Internet connection and data centers. In the last three months, Equinix Inc (NASDAQ:EQIX) stock lost 5.5% and on March 23rd it had a closing price of $675.77. Here is what the fund said:
"For Equinix, we continue to believe that the company is strategically well-positioned with 227 data centers in 63 metro areas across 26 countries and should continue to profit from the increased adoption of cloud and hyper-scale data center infrastructure globally."
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Earlier this month, we published an article revealing that Baron Funds is bullish on Equinix Inc (NASDAQ:EQIX) stock despite weak performance.
In Q3 2020, the number of bullish hedge fund positions on Equinix Inc (NASDAQ:EQIX) stock decreased by about 14% from the previous quarter (see the chart here), so a number of other hedge fund managers don't believe in Equinix's growth potential. Our calculations showed that Equinix Inc (NASDAQ:EQIX) isn't ranked among the 30 most popular stocks among hedge funds.
The top 10 stocks among hedge funds returned 231.2% between 2015 and 2020, and outperformed the S&P 500 Index ETFs by more than 126 percentage points. We know it sounds unbelievable. You have been dismissing our articles about top hedge fund stocks mostly because you were fed biased information by other media outlets about hedge funds' poor performance. You could have doubled the size of your nest egg by investing in the top hedge fund stocks instead of dumb S&P 500 ETFs. Here you can watch our video about the top 5 hedge fund stocks right now. All of these stocks had positive returns in 2020.
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Disclosure: None. This article is originally published at Insider Monkey.
