Investors Sell Equinix Inc. (EQIX) on Strength (EQIX)
Traders sold shares of Equinix Inc. (NASDAQ:EQIX) on strength during trading hours 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 companies tracked, Equinix had the 0th highest net out-flow for the day. Equinix traded up $1.29 for the day and closed at $369.04
EQIX has been the subject of a number of analyst reports. Royal Bank Of Canada increased their price target on shares of Equinix from $382.00 to $429.00 and gave the company an “outperform” rating in a report on Monday, August 8th. Jefferies Group downgraded shares of Equinix from a “buy” rating to a “hold” rating and increased their price target for the company from $380.00 to $400.00 in a report on Friday, July 15th. They noted that the move was a valuation call. Canaccord Genuity reissued a “buy” rating on shares of Equinix in a research note on Thursday, June 16th. SunTrust Banks Inc. assumed coverage on shares of Equinix in a research note on Thursday, July 21st. They issued a “buy” rating and a $445.00 price objective for the company. Finally, Goldman Sachs Group Inc. assumed coverage on shares of Equinix in a research note on Tuesday, July 5th. They issued a “buy” rating and a $435.00 price objective for the company. Nine analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $387.01.
The stock has a market cap of $26.23 billion and a price-to-earnings ratio of 364.30. The stock has a 50-day moving average of $377.79 and a 200-day moving average of $340.48.
Equinix (NASDAQ:EQIX) last issued its quarterly earnings data on Wednesday, August 3rd. The company reported $0.56 EPS for the quarter, missing the consensus estimate of $3.64 by $3.08. The firm had revenue of $900.50 million for the quarter, compared to analysts’ expectations of $893.99 million. During the same quarter in the prior year, the company posted $1.03 EPS. The business’s revenue was up 35.3% on a year-over-year basis. On average, equities research analysts anticipate that Equinix Inc. will post $14.85 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 14th. Stockholders 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 dividend yield of 1.90%.
In other news, Director Christopher B. Paisley sold 500 shares of the company’s stock in a transaction that occurred on Friday, May 20th. The shares were sold at an average price of $344.28, for a total value of $172,140.00. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Stephen M. Smith sold 3,621 shares of the company’s stock in a transaction that occurred on Monday, June 6th. The stock was sold at an average price of $368.46, for a total transaction of $1,334,193.66. Following the completion of the transaction, the chief executive officer now owns 24,888 shares in the company, valued at $9,170,232.48. The disclosure for this sale can be found here.
Other institutional investors recently modified their holdings of the company. US Bancorp DE raised its position in shares of 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 in the last quarter. Mutual of America Capital Management LLC raised its position in shares of Equinix by 8.9% in the fourth quarter. Mutual of America Capital Management LLC now owns 6,860 shares of the company’s stock valued at $2,074,000 after buying an additional 558 shares in the last quarter. Bridgewater Associates LP bought a new position in shares of Equinix during the fourth quarter valued at approximately $2,128,000. Aberdeen Asset Management PLC UK raised its position in shares of Equinix by 31.7% in the fourth quarter. Aberdeen Asset Management PLC UK now owns 11,263 shares of the company’s stock valued at $3,318,000 after buying an additional 2,712 shares in the last quarter. Finally, Utah Retirement Systems raised its position in shares of Equinix by 8.0% in the fourth quarter. Utah Retirement Systems now owns 12,412 shares of the company’s stock valued at $3,754,000 after buying an additional 921 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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