Ninepoint Partners LP Takes Position in Equinix, Inc. (EQIX)
Ninepoint Partners LP bought a new position in Equinix, Inc. (NASDAQ:EQIX) in the third quarter, according to its most recent disclosure with the SEC. The firm bought 1,710 shares of the financial services provider’s stock, valued at approximately $763,000.
Other institutional investors and hedge funds also recently modified their holdings of the company. Proficio Capital Partners LLC grew its holdings in shares of Equinix by 2.9% during the 2nd quarter. Proficio Capital Partners LLC now owns 245 shares of the financial services provider’s stock worth $112,000 after purchasing an additional 7 shares during the period. San Francisco Sentry Investment Group CA purchased a new position in Equinix during the 2nd quarter valued at about $127,000. Smithfield Trust Co. boosted its holdings in Equinix by 19.1% during the 2nd quarter. Smithfield Trust Co. now owns 337 shares of the financial services provider’s stock valued at $145,000 after acquiring an additional 54 shares during the period. Commerce Bank purchased a new position in Equinix during the 3rd quarter valued at about $203,000. Finally, Bienville Capital Management LLC purchased a new position in Equinix during the 2nd quarter valued at about $213,000. 95.09% of the stock is owned by institutional investors and hedge funds.
A number of brokerages recently commented on EQIX. Cowen and Company restated a “buy” rating and set a $482.00 target price on shares of Equinix in a report on Friday, November 10th. Zacks Investment Research upgraded Equinix from a “hold” rating to a “buy” rating and set a $547.00 target price for the company in a report on Monday, November 6th. Berenberg Bank restated a “buy” rating and set a $550.00 target price on shares of Equinix in a report on Friday, November 3rd. Oppenheimer Holdings, Inc. raised their target price on Equinix from $472.00 to $500.00 and gave the company an “outperform” rating in a report on Thursday, November 2nd. Finally, Morgan Stanley raised their target price on Equinix from $424.00 to $435.00 and gave the company an “equal weight” rating in a report on Thursday, November 2nd. Three investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company’s stock. Equinix has an average rating of “Buy” and a consensus target price of $495.20.
Shares of Equinix, Inc. (NASDAQ:EQIX) traded up $0.67 during midday trading on Friday, hitting $475.09. The stock had a trading volume of 528,400 shares, compared to its average volume of 500,355. The company has a quick ratio of 2.11, a current ratio of 2.11 and a debt-to-equity ratio of 1.51. Equinix, Inc. has a 1-year low of $327.37 and a 1-year high of $495.35. The firm has a market cap of $37,115.63, a price-to-earnings ratio of 26.68, a PEG ratio of 1.91 and a beta of 0.46.
Equinix (NASDAQ:EQIX) last issued its earnings results on Wednesday, November 1st. The financial services provider reported $3.63 earnings per share for the quarter, topping the consensus estimate of $1.39 by $2.24. Equinix had a return on equity of 5.59% and a net margin of 5.58%. The business had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.14 billion. During the same quarter last year, the company earned $3.95 EPS. The business’s quarterly revenue was up 24.6% on a year-over-year basis. sell-side analysts forecast that Equinix, Inc. will post 16.05 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 13th. Shareholders of record on Wednesday, November 15th will be given a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a yield of 1.68%. The ex-dividend date is Tuesday, November 14th. Equinix’s dividend payout ratio (DPR) is 264.03%.
In other Equinix news, insider Michael Earl Campbell sold 200 shares of Equinix stock in a transaction that occurred on Wednesday, November 15th. The stock was sold at an average price of $479.37, for a total transaction of $95,874.00. Following the transaction, the insider now owns 1,125 shares of the company’s stock, valued at $539,291.25. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Keith D. Taylor sold 1,500 shares of Equinix stock in a transaction that occurred on Wednesday, September 27th. The stock was sold at an average price of $438.46, for a total value of $657,690.00. Following the transaction, the chief financial officer now directly owns 31,393 shares in the company, valued at approximately $13,764,574.78. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 7,760 shares of company stock worth $3,555,070. 0.58% of the stock is currently 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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