Equinix Inc (EQIX) Shares Bought by Bank of The West

Bank of The West grew its position in shares of Equinix Inc (NASDAQ:EQIX) by 9.0% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 3,091 shares of the financial services provider’s stock after purchasing an additional 255 shares during the period. Bank of The West’s holdings in Equinix were worth $1,338,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Schwab Charles Investment Management Inc. increased its position in shares of Equinix by 4.8% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 290,350 shares of the financial services provider’s stock valued at $124,819,000 after purchasing an additional 13,357 shares during the period. Barton Investment Management increased its position in shares of Equinix by 1.6% during the 2nd quarter. Barton Investment Management now owns 43,660 shares of the financial services provider’s stock valued at $18,768,000 after purchasing an additional 681 shares during the period. Wells Fargo & Company MN increased its position in shares of Equinix by 3.6% during the 2nd quarter. Wells Fargo & Company MN now owns 426,347 shares of the financial services provider’s stock valued at $183,283,000 after purchasing an additional 14,746 shares during the period. Comerica Bank increased its position in shares of Equinix by 2.1% during the 2nd quarter. Comerica Bank now owns 41,070 shares of the financial services provider’s stock valued at $18,008,000 after purchasing an additional 842 shares during the period. Finally, IFM Investors Pty Ltd increased its position in shares of Equinix by 46.1% during the 2nd quarter. IFM Investors Pty Ltd now owns 3,556 shares of the financial services provider’s stock valued at $1,529,000 after purchasing an additional 1,122 shares during the period. Institutional investors own 99.77% of the company’s stock.

EQIX has been the subject of several research reports. Stifel Nicolaus initiated coverage on Equinix in a research note on Tuesday, July 17th. They set a “buy” rating and a $500.00 price objective for the company. Zacks Investment Research lowered Equinix from a “hold” rating to a “sell” rating in a research note on Tuesday, July 17th. BMO Capital Markets initiated coverage on Equinix in a research note on Tuesday, July 17th. They set an “outperform” rating and a $526.00 price objective for the company. BidaskClub lowered Equinix from a “buy” rating to a “hold” rating in a research note on Wednesday, July 18th. Finally, Credit Suisse Group set a $520.00 price objective on Equinix and gave the stock a “buy” rating in a research note on Thursday, August 9th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and sixteen have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $501.28.

Shares of Equinix stock opened at $396.04 on Wednesday. The firm has a market capitalization of $31.20 billion, a PE ratio of 21.37, a price-to-earnings-growth ratio of 1.30 and a beta of 0.74. The company has a quick ratio of 1.29, a current ratio of 1.24 and a debt-to-equity ratio of 1.54. Equinix Inc has a 12 month low of $370.79 and a 12 month high of $495.35.

Equinix (NASDAQ:EQIX) last issued its earnings results on Thursday, November 1st. The financial services provider reported $1.55 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $4.47 by ($2.92). The business had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.28 billion. Equinix had a return on equity of 7.70% and a net margin of 6.46%. The business’s quarterly revenue was up 11.4% on a year-over-year basis. During the same period last year, the business earned $3.63 EPS. As a group, analysts predict that Equinix Inc will post 18.58 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 12th. Stockholders of record on Wednesday, November 14th will be given a $2.28 dividend. The ex-dividend date of this dividend is Tuesday, November 13th. This represents a $9.12 annualized dividend and a dividend yield of 2.30%. Equinix’s dividend payout ratio (DPR) is presently 49.22%.

In other news, CFO Keith D. Taylor sold 2,000 shares of the firm’s stock in a transaction on Monday, August 27th. The stock was sold at an average price of $431.65, for a total value of $863,300.00. Following the completion of the sale, the chief financial officer now owns 21,141 shares of the company’s stock, valued at $9,125,512.65. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Michael Earl Campbell sold 250 shares of the firm’s stock in a transaction on Wednesday, August 15th. The stock was sold at an average price of $433.24, for a total value of $108,310.00. Following the completion of the sale, the insider now directly owns 1,427 shares of the company’s stock, valued at approximately $618,233.48. The disclosure for this sale can be found here. In the last ninety days, insiders sold 3,566 shares of company stock valued at $1,528,778. 0.51% of the stock is currently owned by insiders.

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Equinix Profile

Equinix, Inc (Nasdaq: EQIX) connects the world's leading businesses to their customers, employees and partners inside the most-interconnected data centers. In 52 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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Institutional Ownership by Quarter for Equinix (NASDAQ:EQIX)

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