Eagle Asset Management Inc. raised its position in shares of Equinix (NASDAQ:EQIX) by 49.8% in the first quarter, HoldingsChannel reports. The firm owned 7,936 shares of the financial services provider’s stock after buying an additional 2,639 shares during the period. Eagle Asset Management Inc.’s holdings in Equinix were worth $3,318,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Bank of New York Mellon Corp raised its stake in shares of Equinix by 4.5% during the 4th quarter. Bank of New York Mellon Corp now owns 1,560,124 shares of the financial services provider’s stock worth $707,080,000 after purchasing an additional 67,029 shares in the last quarter. Daiwa Securities Group Inc. increased its holdings in shares of Equinix by 7.2% during the 4th quarter. Daiwa Securities Group Inc. now owns 1,382,606 shares of the financial services provider’s stock valued at $626,624,000 after acquiring an additional 93,181 shares during the last quarter. American Century Companies Inc. increased its holdings in shares of Equinix by 2.2% during the 4th quarter. American Century Companies Inc. now owns 1,038,081 shares of the financial services provider’s stock valued at $470,479,000 after acquiring an additional 22,030 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Equinix by 3.7% during the 4th quarter. Geode Capital Management LLC now owns 797,060 shares of the financial services provider’s stock valued at $360,458,000 after acquiring an additional 28,311 shares during the last quarter. Finally, Centersquare Investment Management LLC acquired a new position in shares of Equinix during the 1st quarter valued at about $277,973,000. 99.60% of the stock is owned by institutional investors.
In other news, insider Yau Tat Lee sold 5,960 shares of Equinix stock in a transaction that occurred on Friday, May 11th. The stock was sold at an average price of $402.69, for a total transaction of $2,400,032.40. Following the sale, the insider now owns 6,718 shares of the company’s stock, valued at approximately $2,705,271.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Charles J. Meyers sold 400 shares of Equinix stock in a transaction that occurred on Tuesday, May 15th. The stock was sold at an average price of $394.47, for a total value of $157,788.00. Following the sale, the insider now directly owns 4,516 shares in the company, valued at approximately $1,781,426.52. The disclosure for this sale can be found here. Insiders sold a total of 23,214 shares of company stock worth $9,298,696 in the last ninety days. Insiders own 0.51% of the company’s stock.
EQIX has been the topic of a number of analyst reports. Wells Fargo & Co lowered their price objective on Equinix from $510.00 to $485.00 and set an “outperform” rating on the stock in a report on Thursday, February 15th. Barclays reissued a “buy” rating and set a $500.00 price objective on shares of Equinix in a report on Friday, February 16th. Deutsche Bank increased their price objective on Equinix from $545.00 to $550.00 and gave the company a “buy” rating in a report on Tuesday, April 17th. Guggenheim set a $515.00 price objective on Equinix and gave the company a “buy” rating in a report on Thursday, February 15th. Finally, UBS raised Equinix from a “neutral” rating to a “buy” rating and set a $510.00 price objective on the stock in a report on Monday, January 29th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and eighteen have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $503.57.
EQIX opened at $388.05 on Friday. The company has a market capitalization of $30.75 billion, a price-to-earnings ratio of 20.94, a price-to-earnings-growth ratio of 1.09 and a beta of 0.51. The company has a current ratio of 2.36, a quick ratio of 2.36 and a debt-to-equity ratio of 1.53. Equinix has a 12-month low of $370.79 and a 12-month high of $495.35.
Equinix (NASDAQ:EQIX) last released its earnings results on Wednesday, May 2nd. The financial services provider reported $0.79 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $3.70 by ($2.91). The business had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.21 billion. Equinix had a net margin of 5.48% and a return on equity of 7.00%. The business’s quarterly revenue was up 28.1% compared to the same quarter last year. During the same period last year, the business earned $4.14 EPS. research analysts expect that Equinix will post 18.9 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 20th. Shareholders of record on Wednesday, May 23rd will be issued a $2.28 dividend. This represents a $9.12 dividend on an annualized basis and a yield of 2.35%. The ex-dividend date is Tuesday, May 22nd. Equinix’s dividend payout ratio (DPR) is currently 49.22%.
Equinix, Inc (Nasdaq: EQIX) connects the world's leading businesses to their customers, employees and partners inside the most-interconnected data centers. In 48 markets across five continents, Equinix is where companies come together to realize new opportunities and accelerate their business, IT and cloud strategies.
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