Equinix Inc. (EQIX) Position Reduced by Emerald Advisers Inc. PA
Emerald Advisers Inc. PA reduced its stake in shares of Equinix Inc. (NASDAQ:EQIX) by 0.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,593 shares of the company’s stock after selling 44 shares during the period. Emerald Advisers Inc. PA’s holdings in Equinix were worth $1,781,000 at the end of the most recent quarter.
A number of other hedge funds have also bought and sold shares of EQIX. Virginia Retirement System acquired a new stake in Equinix during the first quarter valued at about $358,000. IFP Advisors Inc increased its stake in Equinix by 0.6% in the first quarter. IFP Advisors Inc now owns 310 shares of the company’s stock valued at $103,000 after buying an additional 2 shares during the last quarter. NN Investment Partners Holdings N.V. acquired a new stake in Equinix during the first quarter valued at about $142,000. Advisor Partners LLC increased its stake in Equinix by 8.1% in the first quarter. Advisor Partners LLC now owns 718 shares of the company’s stock valued at $238,000 after buying an additional 54 shares during the last quarter. Finally, Menta Capital LLC increased its stake in Equinix by 475.4% in the first quarter. Menta Capital LLC now owns 7,020 shares of the company’s stock valued at $2,322,000 after buying an additional 5,800 shares during the last quarter. 99.86% of the stock is owned by institutional investors and hedge funds.
Shares of Equinix Inc. (NASDAQ:EQIX) traded up 1.52% during midday trading on Monday, hitting $356.42. The stock had a trading volume of 483,035 shares. The stock’s 50 day moving average price is $362.77 and its 200 day moving average price is $357.83. Equinix Inc. has a 12 month low of $255.45 and a 12 month high of $391.07. The firm has a market cap of $25.33 billion, a price-to-earnings ratio of 351.85 and a beta of 0.79.
Equinix (NASDAQ:EQIX) last issued its quarterly earnings results on Wednesday, August 3rd. The company reported $0.56 earnings per share for the quarter, missing the consensus estimate of $3.64 by $3.08. Equinix had a net margin of 2.07% and a return on equity of 6.02%. The company had revenue of $900.50 million for the quarter, compared to the consensus estimate of $893.99 million. During the same quarter in the previous year, the business earned $1.03 earnings per share. Equinix’s revenue was up 35.3% compared to the same quarter last year. On average, equities analysts forecast that Equinix Inc. will post $14.93 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 14th. Investors of record on Wednesday, August 24th were given a dividend of $1.75 per share. The ex-dividend date of this dividend was Monday, August 22nd. This represents a $7.00 annualized dividend and a dividend yield of 1.96%. Equinix’s dividend payout ratio (DPR) is presently 654.21%.
Several analysts recently issued reports on EQIX shares. Canaccord Genuity reissued a “buy” rating on shares of Equinix in a research report on Thursday, June 16th. Barclays PLC lifted their price target on shares of Equinix from $340.00 to $360.00 in a research report on Tuesday, June 21st. Pacific Crest reissued an “overweight” rating and issued a $457.00 price target on shares of Equinix in a research report on Monday, June 27th. William Blair reaffirmed a “buy” rating on shares of Equinix in a report on Sunday, June 26th. Finally, Goldman Sachs Group Inc. started coverage on shares of Equinix in a report on Tuesday, July 5th. They set a “buy” rating and a $435.00 price objective on the stock. Seven research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. Equinix presently has an average rating of “Buy” and a consensus target price of $398.79.
In related news, insider Eric Schwartz sold 3,658 shares of the stock in a transaction on Monday, August 8th. The stock was sold at an average price of $362.65, for a total transaction of $1,326,573.70. Following the sale, the insider now directly owns 4,733 shares of the company’s stock, valued at $1,716,422.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, COO Charles J. Meyers sold 200 shares of the stock in a transaction on Monday, August 8th. The shares were sold at an average price of $364.90, for a total value of $72,980.00. Following the sale, the chief operating officer now directly owns 1,845 shares in the company, valued at $673,240.50. The disclosure for this sale can be found here. Corporate insiders own 0.69% of the company’s stock.
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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