Solaris Asset Management LLC Raises Stake in Equinix, Inc. (EQIX)
Solaris Asset Management LLC raised its stake in Equinix, Inc. (NASDAQ:EQIX) by 3.8% during the second quarter, Holdings Channel reports. The fund owned 552 shares of the financial services provider’s stock after buying an additional 20 shares during the period. Solaris Asset Management LLC’s holdings in Equinix were worth $237,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. BlackRock Inc. increased its position in Equinix by 3,737.0% in the first quarter. BlackRock Inc. now owns 6,295,590 shares of the financial services provider’s stock valued at $2,520,566,000 after buying an additional 6,131,516 shares during the last quarter. Vanguard Group Inc. increased its position in Equinix by 9.9% in the first quarter. Vanguard Group Inc. now owns 13,186,442 shares of the financial services provider’s stock valued at $5,279,456,000 after buying an additional 1,192,961 shares during the last quarter. Bank of Montreal Can raised its stake in Equinix by 398.9% in the first quarter. Bank of Montreal Can now owns 443,878 shares of the financial services provider’s stock valued at $177,716,000 after buying an additional 354,909 shares during the last quarter. Nuveen Asset Management LLC raised its stake in Equinix by 64.8% in the first quarter. Nuveen Asset Management LLC now owns 672,053 shares of the financial services provider’s stock valued at $269,070,000 after buying an additional 264,226 shares during the last quarter. Finally, Egerton Capital UK LLP purchased a new stake in Equinix during the second quarter valued at about $82,970,000. Hedge funds and other institutional investors own 95.31% of the company’s stock.
Equinix, Inc. (EQIX) opened at 441.53 on Wednesday. The company has a market cap of $34.40 billion, a price-to-earnings ratio of 162.15 and a beta of 0.59. Equinix, Inc. has a 52-week low of $314.55 and a 52-week high of $459.00. The company’s 50-day moving average is $436.45 and its 200 day moving average is $410.29.
Equinix (NASDAQ:EQIX) last released its quarterly earnings data on Wednesday, August 2nd. The financial services provider reported $0.58 EPS for the quarter, missing the consensus estimate of $3.41 by $2.83. Equinix had a return on equity of 5.51% and a net margin of 5.18%. The business had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.03 billion. Equities analysts forecast that Equinix, Inc. will post $4.03 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 20th. Investors of record on Wednesday, August 23rd will be issued a $2.00 dividend. The ex-dividend date is Monday, August 21st. This represents a $8.00 annualized dividend and a yield of 1.81%. Equinix’s payout ratio is 293.04%.
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Several analysts have recently issued reports on EQIX shares. Oppenheimer Holdings, Inc. reiterated an “outperform” rating and issued a $472.00 target price (up previously from $440.00) on shares of Equinix in a research note on Thursday, May 4th. Citigroup Inc. upped their target price on shares of Equinix from $435.00 to $462.00 and gave the stock a “buy” rating in a research note on Tuesday, April 25th. Cowen and Company upped their target price on shares of Equinix from $453.00 to $465.00 and gave the stock an “outperform” rating in a research note on Friday, April 28th. Morgan Stanley reiterated an “equal weight” rating and issued a $409.00 target price (up previously from $374.00) on shares of Equinix in a research note on Wednesday, May 17th. Finally, Jefferies Group LLC upped their target price on shares of Equinix from $378.00 to $410.00 and gave the stock a “hold” rating in a research note on Friday, April 28th. Five investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Equinix currently has a consensus rating of “Buy” and an average price target of $464.78.
In other Equinix news, insider Yau Tat Lee sold 5,875 shares of the business’s stock in a transaction dated Wednesday, June 7th. The stock was sold at an average price of $438.70, for a total transaction of $2,577,362.50. Following the completion of the sale, the insider now directly owns 5,485 shares in the company, valued at approximately $2,406,269.50. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Stephen M. Smith sold 5,348 shares of the business’s stock in a transaction dated Thursday, June 15th. The shares were sold at an average price of $432.60, for a total value of $2,313,544.80. Following the sale, the chief executive officer now owns 18,967 shares of the company’s stock, valued at $8,205,124.20. The disclosure for this sale can be found here. Insiders sold a total of 22,143 shares of company stock valued at $9,703,456 over the last quarter. 0.58% of the stock is owned by corporate insiders.
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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