AlphaCrest Capital Management LLC trimmed its position in shares of Equinix Inc (NASDAQ:EQIX) by 33.7% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,039 shares of the financial services provider’s stock after selling 528 shares during the period. AlphaCrest Capital Management LLC’s holdings in Equinix were worth $471,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of EQIX. Washington Trust Bank purchased a new position in shares of Equinix during the 1st quarter valued at $29,000. Spectrum Management Group Inc. purchased a new position in shares of Equinix during the 1st quarter valued at $29,000. Pearl River Capital LLC purchased a new position in shares of Equinix during the 4th quarter valued at $35,000. Proficio Capital Partners LLC grew its holdings in shares of Equinix by 116.7% during the 4th quarter. Proficio Capital Partners LLC now owns 117 shares of the financial services provider’s stock valued at $41,000 after acquiring an additional 63 shares in the last quarter. Finally, Lindbrook Capital LLC purchased a new position in shares of Equinix during the 4th quarter valued at $47,000. Hedge funds and other institutional investors own 99.65% of the company’s stock.
Several research firms have recently commented on EQIX. BidaskClub cut shares of Equinix from a “strong-buy” rating to a “buy” rating in a report on Tuesday. Argus began coverage on shares of Equinix in a report on Monday, June 3rd. They set a “buy” rating and a $550.00 price target on the stock. ValuEngine upgraded shares of Equinix from a “hold” rating to a “buy” rating in a report on Wednesday, May 15th. Deutsche Bank boosted their price target on shares of Equinix from $480.00 to $500.00 and gave the company a “buy” rating in a report on Thursday, May 9th. Finally, Zacks Investment Research upgraded shares of Equinix from a “sell” rating to a “hold” rating in a report on Wednesday, May 8th. Two investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $502.00.
Equinix (NASDAQ:EQIX) last released its quarterly earnings data on Wednesday, May 1st. The financial services provider reported $1.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.16 by ($3.72). Equinix had a net margin of 8.06% and a return on equity of 5.66%. The business had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.35 billion. During the same period in the previous year, the firm posted $5.21 EPS. The firm’s revenue for the quarter was up 12.1% on a year-over-year basis. Equities analysts forecast that Equinix Inc will post 20.81 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 19th. Investors of record on Wednesday, May 22nd will be paid a $2.46 dividend. This represents a $9.84 annualized dividend and a dividend yield of 1.95%. The ex-dividend date of this dividend is Tuesday, May 21st. Equinix’s payout ratio is presently 47.56%.
In other Equinix news, CEO Charles J. Meyers sold 282 shares of the business’s stock in a transaction on Monday, April 15th. The shares were sold at an average price of $462.31, for a total transaction of $130,371.42. Following the completion of the transaction, the chief executive officer now owns 5,882 shares of the company’s stock, valued at approximately $2,719,307.42. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Michael Earl Campbell sold 1,250 shares of the business’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $490.87, for a total transaction of $613,587.50. Following the transaction, the insider now directly owns 2,578 shares of the company’s stock, valued at approximately $1,265,462.86. The disclosure for this sale can be found here. In the last ninety days, insiders sold 3,732 shares of company stock valued at $1,775,800. 0.49% of the stock is owned by company insiders.
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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