Traders purchased shares of Equinix Inc. (NASDAQ:EQIX) on weakness during trading on Wednesday. $47.75 million flowed into the stock on the tick-up and $36.57 million flowed out of the stock on the tick-down, for a money net flow of $11.18 million into the stock. Of all stocks tracked, Equinix had the 23rd highest net in-flow for the day. Equinix traded down ($0.56) for the day and closed at $379.45

A number of research firms have recently weighed in on EQIX. Goldman Sachs Group Inc. began coverage on Equinix in a research note on Tuesday, July 5th. They issued a “buy” rating and a $435.00 price target on the stock. Zacks Investment Research raised Equinix from a “hold” rating to a “buy” rating and set a $433.00 price target on the stock in a research note on Tuesday, July 5th. Jefferies Group reissued a “buy” rating and issued a $380.00 price target on shares of Equinix in a research note on Wednesday, July 6th. Pacific Crest reissued an “overweight” rating and issued a $457.00 price target on shares of Equinix in a research note on Monday, June 27th. Finally, William Blair reaffirmed a “buy” rating on shares of Equinix in a research note on Sunday, June 26th. Nine equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $358.83.

The firm’s 50-day moving average is $378.08 and its 200 day moving average is $332.51. The company has a market capitalization of $26.34 billion and a P/E ratio of 290.99.

Equinix (NASDAQ:EQIX) last released its earnings results on Wednesday, May 4th. The company reported $3.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.23 by $0.15. The company had revenue of $844.20 million for the quarter, compared to analyst estimates of $835.72 million. During the same quarter last year, the firm posted $3.09 EPS. The firm’s revenue for the quarter was up 31.2% compared to the same quarter last year. On average, equities analysts expect that Equinix Inc. will post $14.25 earnings per share for the current fiscal year.

In other news, CEO Stephen M. Smith sold 4,000 shares of the company’s stock in a transaction dated Wednesday, May 4th. The shares were sold at an average price of $335.03, for a total transaction of $1,340,120.00. Following the transaction, the chief executive officer now owns 28,992 shares in the company, valued at $9,713,189.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Stephen M. Smith sold 3,621 shares of the company’s stock in a transaction dated Monday, June 6th. The shares were sold at an average price of $368.46, for a total transaction of $1,334,193.66. Following the transaction, the chief executive officer now owns 24,888 shares in the company, valued at approximately $9,170,232.48. The disclosure for this sale can be found here.

Several institutional investors recently made changes to their positions in the stock. Amica Pension Fund Board of Trustees raised its position in shares of Equinix by 2.7% in the fourth quarter. Amica Pension Fund Board of Trustees now owns 3,862 shares of the company’s stock valued at $1,168,000 after buying an additional 102 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in Equinix by 10.6% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 4,049 shares of the company’s stock valued at $1,224,000 after buying an additional 389 shares during the last quarter. Amica Mutual Insurance Co. increased its stake in Equinix by 2.7% in the fourth quarter. Amica Mutual Insurance Co. now owns 5,032 shares of the company’s stock valued at $1,522,000 after buying an additional 132 shares during the last quarter. US Bancorp DE increased its stake in Equinix by 15.4% in the fourth quarter. US Bancorp DE now owns 5,167 shares of the company’s stock valued at $1,562,000 after buying an additional 691 shares during the last quarter. Finally, New Mexico Educational Retirement Board increased its stake in Equinix by 3.7% in the fourth quarter. New Mexico Educational Retirement Board now owns 6,532 shares of the company’s stock valued at $1,975,000 after buying an additional 232 shares during the last quarter.

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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