Investors Sell Equinix Inc. (EQIX) on Strength (EQIX)
Investors sold shares of Equinix Inc. (NASDAQ:EQIX) on strength during trading on Friday. $23.78 million flowed into the stock on the tick-up and $52.61 million flowed out of the stock on the tick-down, for a money net flow of $28.83 million out of the stock. Of all stocks tracked, Equinix had the 9th highest net out-flow for the day. Equinix traded up $1.29 for the day and closed at $369.04
A number of research firms have recently issued reports on EQIX. Stifel Nicolaus boosted their price target on shares of Equinix from $340.00 to $380.00 and gave the company a “buy” rating in a research note on Thursday, May 5th. Canaccord Genuity reaffirmed a “buy” rating on shares of Equinix in a research note on Thursday, June 16th. Zacks Investment Research downgraded shares of Equinix from a “buy” rating to a “hold” rating in a research note on Friday. JPMorgan Chase & Co. reaffirmed a “hold” rating and set a $428.00 target price on shares of Equinix in a research note on Tuesday. Finally, Jefferies Group reaffirmed a “buy” rating and set a $380.00 target price on shares of Equinix in a research note on Wednesday, July 6th. Nine analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. Equinix has an average rating of “Buy” and an average price target of $387.01.
The firm has a market capitalization of $25.73 billion and a PE ratio of 364.30. The firm has a 50 day moving average price of $377.79 and a 200 day moving average price of $340.48.
Equinix (NASDAQ:EQIX) last posted its quarterly earnings results on Wednesday, August 3rd. The company reported $0.56 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $3.64 by $3.08. The company had revenue of $900.50 million for the quarter, compared to analysts’ expectations of $893.99 million. During the same quarter last year, the firm earned $1.03 EPS. The business’s revenue for the quarter was up 35.3% compared to the same quarter last year. On average, equities analysts forecast that Equinix Inc. will post $14.86 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 14th. Investors of record on Wednesday, August 24th will be issued a $1.75 dividend. The ex-dividend date of this dividend is Monday, August 22nd. This represents a $7.00 annualized dividend and a yield of 1.90%.
In other news, COO Charles J. Meyers sold 200 shares of Equinix stock in a transaction that occurred on Monday, August 8th. The shares were sold at an average price of $364.90, for a total transaction of $72,980.00. Following the sale, the chief operating officer now owns 1,845 shares in the company, valued at $673,240.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Christopher B. Paisley sold 500 shares of Equinix stock in a transaction that occurred on Friday, May 20th. The shares were sold at an average price of $344.28, for a total transaction of $172,140.00. The disclosure for this sale can be found here.
Other hedge funds have recently bought and sold shares of the company. BlackRock Advisors LLC raised its stake in Equinix by 62.1% in the fourth quarter. BlackRock Advisors LLC now owns 86,654 shares of the company’s stock worth $26,204,000 after buying an additional 33,202 shares in the last quarter. RS Investment Management Co. LLC raised its stake in Equinix by 30.5% in the fourth quarter. RS Investment Management Co. LLC now owns 54,307 shares of the company’s stock worth $16,422,000 after buying an additional 12,707 shares in the last quarter. Bridgewater Associates LP purchased a new stake in Equinix during the fourth quarter worth about $2,128,000. Aberdeen Asset Management PLC UK raised its stake in Equinix by 31.7% in the fourth quarter. Aberdeen Asset Management PLC UK now owns 11,263 shares of the company’s stock worth $3,318,000 after buying an additional 2,712 shares in the last quarter. Finally, American International Group Inc. raised its stake in Equinix by 8.0% in the fourth quarter. American International Group Inc. now owns 23,513 shares of the company’s stock worth $7,111,000 after buying an additional 1,736 shares in 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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