Pandora Media Inc. (P), Equinix Inc (EQIX): Crosslink Capital Slashes Stakes in These Stocks

Crosslink is also a long-term investor in Equinix Inc (NASDAQ:EQIX), dating all the way back to 2003 when it was the sole investor in a PIPE (private investment in a public entity). The networking company operates a number of International Business Exchange (IBX) data centers, which function as traffic hubs within the internet’s infrastructure. The company also operates Equinix cloud exchange, which is utilized by more than 100 cloud service providers and other organizations for easy updating and configuring the connections of multiple cloud services.

Crosslink helped Equinix explore various corporate development and acquisition options over the years, and has benefited greatly from the company’s continued growth. Shares have increased 40-fold since the beginning of 2003, when shares were trading at just $5.08 following the company’s 1:32 stock split at the end of 2002. Shares are trading at $223.94 in trading Wednesday afternoon.

Crosslink had largely disposed of much of its Equinix position by the middle of 2013, and there has been relatively little movement in its position in the company since. The latest sale reduces its holding to its lowest levels since it held just 60,000 shares in late 2012/early 2013. Equinix has also experienced a high volume of insider sales during 2015, which may indicate a broad consensus that shares have finally topped out. Shares of Equinix are down 1.31% in 2015.

Disclosure: None