Investors Sell Shares of Equinix Inc. (EQIX) on Strength (EQIX)
Investors sold shares of Equinix Inc. (NASDAQ:EQIX) on strength during trading on Monday. $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 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 topic of a number of recent analyst reports. Royal Bank Of Canada boosted their price target on shares of Equinix from $382.00 to $429.00 and gave the stock an “outperform” rating in a research report on Monday, August 8th. Jefferies Group downgraded shares of Equinix from a “buy” rating to a “hold” rating and boosted their price target for the stock from $380.00 to $400.00 in a research report on Friday, July 15th. They noted that the move was a valuation call. Canaccord Genuity restated a “buy” rating on shares of Equinix in a research report on Thursday, June 16th. SunTrust Banks Inc. initiated coverage on shares of Equinix in a research report on Thursday, July 21st. They set a “buy” rating and a $445.00 price target on the stock. Finally, Goldman Sachs Group Inc. initiated coverage on shares of Equinix in a research report on Tuesday, July 5th. They set a “buy” rating and a $435.00 price target on the stock. Nine equities research 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 company has an average rating of “Buy” and a consensus target price of $387.01.
The company’s 50-day moving average price is $377.66 and its 200 day moving average price is $341.56. The company has a market cap of $26.27 billion and a PE ratio of 364.93.
Equinix (NASDAQ:EQIX) last issued its quarterly earnings data on Wednesday, August 3rd. The company reported $0.56 EPS for the quarter, missing analysts’ consensus estimates of $3.64 by $3.08. During the same quarter in the prior year, the company posted $1.03 earnings per share. The business had revenue of $900.50 million for the quarter, compared to analysts’ expectations of $893.99 million. The firm’s revenue was up 35.3% on a year-over-year basis. On average, 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. Shareholders of record on Wednesday, August 24th will be issued a dividend of $1.75 per share. This represents a $7.00 dividend on an annualized basis and a yield of 1.89%. The ex-dividend date is Monday, August 22nd.
In other Equinix news, 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 directly owns 24,888 shares in the company, valued at approximately $9,170,232.48. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director John L. Hughes sold 89 shares of the company’s stock in a transaction dated Tuesday, May 31st. The shares were sold at an average price of $365.55, for a total transaction of $32,533.95. Following the transaction, the director now owns 2,418 shares in the company, valued at $883,899.90. The disclosure for this sale can be found here.
A number of hedge funds and institutional investors have added to or reduced their stakes in the stock. Employees Retirement System of Texas increased its position in Equinix by 0.4% in the fourth quarter. Employees Retirement System of Texas now owns 17,075 shares of the company’s stock worth $5,163,000 after buying an additional 60 shares during the last quarter. State of Tennessee Treasury Department increased its position in Equinix by 0.4% in the fourth quarter. State of Tennessee Treasury Department now owns 25,459 shares of the company’s stock worth $7,699,000 after buying an additional 94 shares during the last quarter. Mutual of America Capital Management LLC increased its position in Equinix by 8.9% in the fourth quarter. Mutual of America Capital Management LLC now owns 6,860 shares of the company’s stock worth $2,074,000 after buying an additional 558 shares during the last quarter. US Bancorp DE increased its position in Equinix by 15.4% in the fourth quarter. US Bancorp DE now owns 5,167 shares of the company’s stock worth $1,562,000 after buying an additional 691 shares during the last quarter. Finally, Utah Retirement Systems increased its position in Equinix by 8.0% in the fourth quarter. Utah Retirement Systems now owns 12,412 shares of the company’s stock worth $3,754,000 after buying an additional 921 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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