Equinix Inc. (EQIX) Position Decreased by Advisory Services Network LLC
Advisory Services Network LLC decreased its position in shares of Equinix Inc. (NASDAQ:EQIX) by 2.8% during the second quarter, Holdings Channel reports. The fund owned 1,254 shares of the company’s stock after selling 36 shares during the period. Advisory Services Network LLC’s holdings in Equinix were worth $486,000 as of its most recent filing with the SEC.
Other large investors have also modified their holdings of the company. Heitman Real Estate Securities LLC increased its stake in shares of Equinix by 32.4% in the first quarter. Heitman Real Estate Securities LLC now owns 390,178 shares of the company’s stock worth $129,036,000 after buying an additional 95,498 shares during the last quarter. Allen Investment Management LLC increased its stake in shares of Equinix by 2.8% in the first quarter. Allen Investment Management LLC now owns 181,596 shares of the company’s stock worth $60,056,000 after buying an additional 4,987 shares during the last quarter. Retirement Systems of Alabama increased its stake in shares of Equinix by 1.5% in the second quarter. Retirement Systems of Alabama now owns 35,395 shares of the company’s stock worth $13,724,000 after buying an additional 538 shares during the last quarter. Legal & General Group Plc increased its stake in shares of Equinix by 8.2% in the first quarter. Legal & General Group Plc now owns 283,092 shares of the company’s stock worth $93,620,000 after buying an additional 21,437 shares during the last quarter. Finally, Resolution Capital Ltd increased its stake in shares of Equinix by 9.9% in the second quarter. Resolution Capital Ltd now owns 300,892 shares of the company’s stock worth $116,665,000 after buying an additional 27,142 shares during the last quarter. 99.86% of the stock is owned by hedge funds and other institutional investors.
Equinix Inc. (NASDAQ:EQIX) traded up 1.18% during mid-day trading on Thursday, reaching $353.15. 510,769 shares of the company were exchanged. The company has a market capitalization of $25.10 billion, a price-to-earnings ratio of 348.62 and a beta of 0.79. The company has a 50 day moving average of $363.54 and a 200-day moving average of $357.62. Equinix Inc. has a 1-year low of $255.45 and a 1-year high of $391.07.
Equinix (NASDAQ:EQIX) last released its quarterly earnings data on Wednesday, August 3rd. The company reported $0.56 earnings per share for the quarter, missing analysts’ consensus estimates of $3.64 by $3.08. Equinix had a net margin of 2.07% and a return on equity of 6.02%. The firm earned $900.50 million during the quarter, compared to analysts’ expectations of $893.99 million. During the same period in the previous year, the firm posted $1.03 EPS. The firm’s quarterly revenue was up 35.3% on a year-over-year basis. On average, equities research analysts forecast that Equinix Inc. will post $14.93 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 14th. Shareholders of record on Wednesday, August 24th were issued a $1.75 dividend. The ex-dividend date of this dividend was Monday, August 22nd. This represents a $7.00 dividend on an annualized basis and a yield of 1.98%. Equinix’s payout ratio is 654.21%.
EQIX has been the subject of a number of recent research reports. Jefferies Group reissued a “hold” rating on shares of Equinix in a research report on Monday, August 29th. Cowen and Company reaffirmed an “outperform” rating and issued a $409.00 target price on shares of Equinix in a report on Thursday, September 22nd. Zacks Investment Research raised shares of Equinix from a “hold” rating to a “buy” rating and set a $400.00 target price for the company in a report on Wednesday, September 14th. Pacific Crest reaffirmed an “overweight” rating and issued a $457.00 target price on shares of Equinix in a report on Monday, June 27th. Finally, Oppenheimer Holdings Inc. raised shares of Equinix from a “market perform” rating to an “outperform” rating and set a $420.00 target price for the company in a report on Tuesday, September 6th. Seven investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. Equinix has an average rating of “Buy” and a consensus target price of $398.79.
In other news, insider Karl Strohmeyer sold 2,143 shares of Equinix stock in a transaction dated Friday, September 2nd. The shares were sold at an average price of $369.76, for a total value of $792,395.68. Following the sale, the insider now owns 2,550 shares in the company, valued at $942,888. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Eric Schwartz sold 3,658 shares of Equinix stock in a transaction dated Monday, August 8th. The shares were sold at an average price of $362.65, for a total transaction of $1,326,573.70. Following the completion of the sale, the insider now owns 4,733 shares in the company, valued at approximately $1,716,422.45. The disclosure for this sale can be found here. 0.69% of the stock is currently owned by company insiders.
Equinix Company Profile
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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