Piedmont Investment Advisors LLC purchased a new stake in Equinix, Inc. (NASDAQ:EQIX) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 16,600 shares of the financial services provider’s stock, valued at approximately $7,124,000.
A number of other hedge funds have also recently made changes to their positions in the business. Cpcm LLC lifted its stake in Equinix by 0.4% in the first quarter. Cpcm LLC now owns 1,255 shares of the financial services provider’s stock valued at $502,000 after acquiring an additional 5 shares during the last quarter. Proficio Capital Partners LLC lifted its stake in Equinix by 2.9% in the second quarter. Proficio Capital Partners LLC now owns 245 shares of the financial services provider’s stock valued at $112,000 after acquiring an additional 7 shares during the last quarter. Conning Inc. lifted its stake in Equinix by 0.6% in the second quarter. Conning Inc. now owns 1,550 shares of the financial services provider’s stock valued at $665,000 after acquiring an additional 10 shares during the last quarter. New Amsterdam Partners LLC NY lifted its stake in Equinix by 2.7% in the second quarter. New Amsterdam Partners LLC NY now owns 571 shares of the financial services provider’s stock valued at $245,000 after acquiring an additional 15 shares during the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. lifted its stake in Equinix by 3.2% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 650 shares of the financial services provider’s stock valued at $260,000 after acquiring an additional 20 shares during the last quarter. Hedge funds and other institutional investors own 94.41% of the company’s stock.
In other Equinix news, insider Karl Strohmeyer sold 250 shares of the stock in a transaction that occurred on Friday, August 25th. The shares were sold at an average price of $464.96, for a total transaction of $116,240.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Keith D. Taylor sold 1,000 shares of the stock in a transaction that occurred on Tuesday, July 18th. The shares were sold at an average price of $436.12, for a total transaction of $436,120.00. Following the transaction, the chief financial officer now owns 32,996 shares in the company, valued at $14,390,215.52. The disclosure for this sale can be found here. Insiders have sold 10,711 shares of company stock worth $4,813,045 over the last quarter. Company insiders own 0.58% of the company’s stock.
A number of analysts have commented on the stock. Jefferies Group LLC reiterated a “hold” rating and issued a $440.00 price target on shares of Equinix in a research note on Thursday. Barclays PLC reiterated an “equal weight” rating and issued a $475.00 price target (up previously from $410.00) on shares of Equinix in a research note on Wednesday, August 9th. BidaskClub cut shares of Equinix from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, August 8th. Royal Bank Of Canada increased their price target on shares of Equinix from $470.00 to $505.00 and gave the company an “outperform” rating in a research note on Monday, August 7th. Finally, Cowen and Company reiterated an “outperform” rating and issued a $482.00 price target (up previously from $465.00) on shares of Equinix in a research note on Thursday, August 3rd. Four investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. Equinix has a consensus rating of “Buy” and an average target price of $471.94.
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Shares of Equinix, Inc. (NASDAQ EQIX) traded down 0.48% during midday trading on Friday, hitting $462.46. 48,139 shares of the company traded hands. The stock has a 50 day moving average of $454.80 and a 200-day moving average of $435.26. The stock has a market capitalization of $36.05 billion, a PE ratio of 169.83 and a beta of 0.55. Equinix, Inc. has a 52 week low of $314.55 and a 52 week high of $475.28.
Equinix (NASDAQ:EQIX) last issued its quarterly earnings results on Wednesday, August 2nd. The financial services provider reported $4.59 EPS for the quarter, beating analysts’ consensus estimates of $3.41 by $1.18. Equinix had a net margin of 5.18% and a return on equity of 5.51%. The business had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1.03 billion. Equities analysts forecast that Equinix, Inc. will post $3.81 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 20th. Shareholders of record on Wednesday, August 23rd were given a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a yield of 1.72%. The ex-dividend date of this dividend was Monday, August 21st. Equinix’s payout ratio is currently 293.04%.
Equinix Company Profile
Equinix, Inc (Equinix) connects businesses with partners and customers worldwide through a global platform of data centers. The Company connects approximately 4000 customers, across the Americas, Europe, Middle East and Africa (EMEA) and Asia-Pacific. Platform Equinix combines international business exchange (IBX) data centers, a global footprint and ecosystems.
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