Commonwealth Equity Services LLC cut its position in Equinix, Inc. (NASDAQ:EQIX – Get Rating) by 2.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,624 shares of the financial services provider’s stock after selling 116 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Equinix were worth $2,630,000 at the end of the most recent reporting period.
Several other hedge funds have also recently made changes to their positions in EQIX. State Street Corp raised its stake in shares of Equinix by 11.7% in the second quarter. State Street Corp now owns 6,008,037 shares of the financial services provider’s stock valued at $3,947,400,000 after buying an additional 630,477 shares during the period. PGGM Investments bought a new stake in shares of Equinix in the third quarter valued at $193,420,000. FMR LLC raised its stake in shares of Equinix by 16.0% in the second quarter. FMR LLC now owns 1,815,330 shares of the financial services provider’s stock valued at $1,192,709,000 after buying an additional 250,501 shares during the period. Canada Pension Plan Investment Board raised its stake in shares of Equinix by 38.6% in the third quarter. Canada Pension Plan Investment Board now owns 641,041 shares of the financial services provider’s stock valued at $364,650,000 after buying an additional 178,600 shares during the period. Finally, Deutsche Bank AG raised its stake in shares of Equinix by 36.5% in the second quarter. Deutsche Bank AG now owns 626,006 shares of the financial services provider’s stock valued at $411,298,000 after buying an additional 167,460 shares during the period. 92.80% of the stock is currently owned by institutional investors.
Insider Activity
In other news, CFO Keith D. Taylor sold 1,358 shares of the business’s stock in a transaction dated Thursday, March 9th. The stock was sold at an average price of $688.48, for a total value of $934,955.84. Following the completion of the sale, the chief financial officer now owns 24,177 shares of the company’s stock, valued at approximately $16,645,380.96. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, CEO Charles J. Meyers sold 7,378 shares of the business’s stock in a transaction dated Wednesday, January 18th. The stock was sold at an average price of $706.45, for a total value of $5,212,188.10. Following the completion of the sale, the chief executive officer now owns 16,599 shares of the company’s stock, valued at approximately $11,726,363.55. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Keith D. Taylor sold 1,358 shares of the business’s stock in a transaction dated Thursday, March 9th. The shares were sold at an average price of $688.48, for a total value of $934,955.84. Following the completion of the sale, the chief financial officer now directly owns 24,177 shares of the company’s stock, valued at approximately $16,645,380.96. The disclosure for this sale can be found here. In the last quarter, insiders sold 20,971 shares of company stock valued at $14,666,488. Insiders own 0.32% of the company’s stock.
Equinix Trading Down 2.5 %
Shares of EQIX stock opened at $665.63 on Friday. The company has a quick ratio of 1.80, a current ratio of 1.80 and a debt-to-equity ratio of 1.29. The business has a 50-day moving average price of $708.05 and a two-hundred day moving average price of $652.06. Equinix, Inc. has a 12-month low of $494.89 and a 12-month high of $776.35. The firm has a market cap of $61.76 billion, a P/E ratio of 86.67, a price-to-earnings-growth ratio of 2.26 and a beta of 0.61.
Equinix (NASDAQ:EQIX – Get Rating) last issued its quarterly earnings results on Wednesday, February 15th. The financial services provider reported $1.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.90 by ($4.51). Equinix had a return on equity of 6.37% and a net margin of 9.70%. The firm had revenue of $1.87 billion for the quarter, compared to the consensus estimate of $1.86 billion. During the same period last year, the firm earned $6.22 EPS. The company’s revenue for the quarter was up 9.6% on a year-over-year basis. Equities analysts anticipate that Equinix, Inc. will post 27.59 EPS for the current fiscal year.
Equinix Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 22nd. Stockholders of record on Tuesday, March 7th will be paid a $3.41 dividend. This represents a $13.64 dividend on an annualized basis and a dividend yield of 2.05%. The ex-dividend date of this dividend is Monday, March 6th. This is a positive change from Equinix’s previous quarterly dividend of $3.10. Equinix’s payout ratio is 177.60%.
Analysts Set New Price Targets
Several brokerages have recently weighed in on EQIX. Royal Bank of Canada lifted their price target on Equinix from $668.00 to $720.00 and gave the company an “outperform” rating in a research report on Monday, November 14th. StockNews.com cut Equinix from a “buy” rating to a “hold” rating in a research report on Saturday, February 18th. Morgan Stanley reduced their price target on Equinix from $704.00 to $702.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 15th. Stifel Nicolaus lifted their price target on Equinix from $800.00 to $820.00 in a research report on Thursday, February 16th. Finally, Exane BNP Paribas began coverage on Equinix in a research report on Wednesday, December 14th. They issued an “outperform” rating for the company. Six investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Equinix presently has an average rating of “Moderate Buy” and an average target price of $779.28.
Equinix Company Profile
Equinix, Inc engages in the provision of collocation space and develops data center solutions. The firm offers secure key management, consulting, network virtualization, customer support, and managed services. It operates through the following geographical segments: Americas, Europe, Middle East & Africa and Asia-Pacific.
See Also
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