Prospera Financial Services Inc Invests $554,000 in Equinix Inc (NASDAQ:EQIX)

Prospera Financial Services Inc purchased a new position in Equinix Inc (NASDAQ:EQIX) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,571 shares of the financial services provider’s stock, valued at approximately $554,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of EQIX. Private Advisor Group LLC raised its position in Equinix by 283.1% during the second quarter. Private Advisor Group LLC now owns 2,268 shares of the financial services provider’s stock valued at $1,144,000 after acquiring an additional 1,676 shares in the last quarter. GRS Advisors LLC raised its position in Equinix by 24.5% during the second quarter. GRS Advisors LLC now owns 15,183 shares of the financial services provider’s stock valued at $7,657,000 after acquiring an additional 2,983 shares in the last quarter. Spyglass Capital Management LLC raised its position in Equinix by 22.6% during the second quarter. Spyglass Capital Management LLC now owns 31,779 shares of the financial services provider’s stock valued at $16,026,000 after acquiring an additional 5,867 shares in the last quarter. National Pension Service raised its position in Equinix by 12.7% during the second quarter. National Pension Service now owns 97,664 shares of the financial services provider’s stock valued at $49,251,000 after acquiring an additional 11,014 shares in the last quarter. Finally, Asset Management One Co. Ltd. raised its position in Equinix by 9.2% during the second quarter. Asset Management One Co. Ltd. now owns 47,281 shares of the financial services provider’s stock valued at $23,844,000 after acquiring an additional 3,983 shares in the last quarter.

EQIX has been the topic of several recent research reports. Nomura raised their price objective on shares of Equinix from $505.00 to $575.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Raymond James raised their price objective on shares of Equinix from $520.00 to $560.00 and gave the company a “strong-buy” rating in a research report on Thursday, August 1st. Mitsubishi UFJ Financial Group initiated coverage on shares of Equinix in a research report on Tuesday, September 10th. They set an “overweight” rating and a $605.00 price objective on the stock. BidaskClub lowered shares of Equinix from a “strong-buy” rating to a “buy” rating in a research report on Thursday, September 12th. Finally, Argus initiated coverage on shares of Equinix in a research report on Monday, June 3rd. They set a “buy” rating and a $550.00 price objective on the stock. One research analyst has rated the stock with a sell rating, three have given a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $533.58.

NASDAQ:EQIX opened at $555.68 on Wednesday. Equinix Inc has a 12 month low of $335.29 and a 12 month high of $567.89. The firm has a market cap of $44.92 billion, a price-to-earnings ratio of 26.85, a P/E/G ratio of 1.78 and a beta of 0.70. The company has a quick ratio of 1.59, a current ratio of 1.59 and a debt-to-equity ratio of 1.34. The company’s 50 day moving average is $543.17 and its 200-day moving average is $494.06.

Equinix (NASDAQ:EQIX) last released its quarterly earnings results on Wednesday, July 31st. The financial services provider reported $1.69 EPS for the quarter, missing the Zacks’ consensus estimate of $5.14 by ($3.45). The firm had revenue of $1.38 billion during the quarter, compared to the consensus estimate of $1.39 billion. Equinix had a net margin of 9.29% and a return on equity of 6.29%. The company’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same period in the prior year, the business earned $3.63 EPS. Research analysts predict that Equinix Inc will post 20.69 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 18th. Stockholders of record on Wednesday, August 21st will be paid a $2.46 dividend. The ex-dividend date is Tuesday, August 20th. This represents a $9.84 annualized dividend and a dividend yield of 1.77%. Equinix’s payout ratio is 47.56%.

In other news, insider Michael Earl Campbell sold 124 shares of the firm’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $559.80, for a total value of $69,415.20. Following the sale, the insider now owns 1,578 shares in the company, valued at $883,364.40. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Brandi Galvin Morandi sold 2,960 shares of the firm’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $516.44, for a total transaction of $1,528,662.40. Following the completion of the sale, the insider now owns 19,253 shares in the company, valued at approximately $9,943,019.32. The disclosure for this sale can be found here. In the last 90 days, insiders sold 12,409 shares of company stock worth $6,727,033. 0.49% of the stock is currently owned by corporate insiders.

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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