Castle Ridge Investment Management LP grew its stake in shares of Equinix, Inc. (NASDAQ:EQIX) by 124.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 20,830 shares of the financial services provider’s stock after buying an additional 11,550 shares during the quarter. Equinix accounts for approximately 3.3% of Castle Ridge Investment Management LP’s portfolio, making the stock its 11th largest holding. Castle Ridge Investment Management LP’s holdings in Equinix were worth $8,939,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in EQIX. UBS Asset Management Americas Inc. boosted its holdings in shares of Equinix by 23.0% during the first quarter. UBS Asset Management Americas Inc. now owns 206,694 shares of the financial services provider’s stock worth $82,754,000 after purchasing an additional 38,696 shares during the period. Keybank National Association OH boosted its holdings in shares of Equinix by 1.8% during the first quarter. Keybank National Association OH now owns 1,554 shares of the financial services provider’s stock worth $622,000 after purchasing an additional 27 shares during the period. Ameritas Investment Partners Inc. boosted its holdings in shares of Equinix by 5.2% during the first quarter. Ameritas Investment Partners Inc. now owns 1,788 shares of the financial services provider’s stock worth $716,000 after purchasing an additional 89 shares during the period. Pacer Advisors Inc. boosted its holdings in shares of Equinix by 3.5% during the first quarter. Pacer Advisors Inc. now owns 1,618 shares of the financial services provider’s stock worth $648,000 after purchasing an additional 55 shares during the period. Finally, Aberdeen Asset Management PLC UK boosted its holdings in shares of Equinix by 11.1% during the first quarter. Aberdeen Asset Management PLC UK now owns 13,659 shares of the financial services provider’s stock worth $5,468,000 after purchasing an additional 1,362 shares during the period. 94.36% of the stock is currently owned by hedge funds and other institutional investors.

Equinix (NASDAQ:EQIX) last issued its earnings results on Wednesday, August 2nd. The financial services provider reported $4.59 EPS for the quarter, topping the Zacks’ consensus estimate of $3.41 by $1.18. The business had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.03 billion. Equinix had a net margin of 5.18% and a return on equity of 5.51%.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 20th. Stockholders of record on Wednesday, August 23rd were given a $2.00 dividend. The ex-dividend date was Monday, August 21st. This represents a $8.00 annualized dividend and a dividend yield of 1.81%. Equinix’s payout ratio is presently 293.04%.

A number of analysts have recently weighed in on EQIX shares. Credit Suisse Group started coverage on shares of Equinix in a report on Friday, June 30th. They set an “outperform” rating and a $510.00 target price for the company. BidaskClub upgraded shares of Equinix from a “buy” rating to a “strong-buy” rating in a report on Thursday, August 24th. Cowen and Company reiterated an “outperform” rating and set a $482.00 target price (up from $465.00) on shares of Equinix in a report on Thursday, August 3rd. Stifel Nicolaus reiterated a “buy” rating and set a $497.00 target price (up from $485.00) on shares of Equinix in a report on Thursday, August 3rd. Finally, Macquarie reiterated an “outperform” rating and set a $450.00 target price on shares of Equinix in a report on Tuesday, July 4th. Five investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $464.78.

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In other news, Director Camp Peter Van sold 4,444 shares of the company’s stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $445.81, for a total value of $1,981,179.64. Following the completion of the sale, the director now owns 8,572 shares of the company’s stock, valued at approximately $3,821,483.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Karl Strohmeyer sold 250 shares of the company’s stock in a transaction that occurred on Friday, August 25th. The stock was sold at an average price of $464.96, for a total transaction of $116,240.00. The disclosure for this sale can be found here. Insiders sold a total of 11,711 shares of company stock valued at $5,244,405 in the last ninety days. Corporate insiders own 0.58% of the company’s stock.

About Equinix

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.

Institutional Ownership by Quarter for Equinix (NASDAQ:EQIX)

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