FDO Partners LLC Sells 469 Shares of Equinix, Inc. (EQIX)
FDO Partners LLC decreased its holdings in shares of Equinix, Inc. (NASDAQ:EQIX) by 10.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,173 shares of the financial services provider’s stock after selling 469 shares during the period. FDO Partners LLC’s holdings in Equinix were worth $1,862,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds have also modified their holdings of EQIX. Municipal Employees Retirement System of Michigan grew its position in shares of Equinix by 77.6% during the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 4,096 shares of the financial services provider’s stock valued at $1,758,000 after acquiring an additional 1,790 shares during the period. Janney Montgomery Scott LLC boosted its position in Equinix by 4.0% during the second quarter. Janney Montgomery Scott LLC now owns 3,086 shares of the financial services provider’s stock worth $1,325,000 after acquiring an additional 119 shares during the last quarter. CIBC Asset Management Inc increased its stake in Equinix by 9.1% during the 2nd quarter. CIBC Asset Management Inc now owns 7,394 shares of the financial services provider’s stock worth $3,173,000 after buying an additional 614 shares during the period. Bessemer Group Inc. increased its stake in Equinix by 145.0% during the 2nd quarter. Bessemer Group Inc. now owns 1,247 shares of the financial services provider’s stock worth $535,000 after buying an additional 738 shares during the period. Finally, State of New Jersey Common Pension Fund D increased its stake in Equinix by 16.4% during the 2nd quarter. State of New Jersey Common Pension Fund D now owns 23,400 shares of the financial services provider’s stock worth $10,042,000 after buying an additional 3,300 shares during the period. 94.33% of the stock is owned by hedge funds and other institutional investors.
Several research firms have commented on EQIX. Cowen reiterated a “buy” rating and set a $482.00 price target on shares of Equinix in a report on Friday, November 10th. Barclays upgraded shares of Equinix from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $475.00 to $505.00 in a report on Wednesday, October 18th. UBS began coverage on shares of Equinix in a report on Wednesday, October 18th. They set a “neutral” rating for the company. J P Morgan Chase & Co upgraded shares of Equinix from a “neutral” rating to an “overweight” rating and set a $550.00 price target for the company in a report on Thursday, November 2nd. Finally, Nomura boosted their price target on shares of Equinix from $490.00 to $510.00 and gave the stock a “buy” rating in a report on Thursday, November 2nd. Three research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $495.20.
Shares of Equinix, Inc. (EQIX) opened at $464.49 on Friday. The firm has a market cap of $37,391.80, a price-to-earnings ratio of 26.88, a price-to-earnings-growth ratio of 1.92 and a beta of 0.46. The company has a debt-to-equity ratio of 1.51, a quick ratio of 2.11 and a current ratio of 2.11. Equinix, Inc. has a 12 month low of $327.37 and a 12 month high of $495.35.
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. The company had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.14 billion. Equinix had a net margin of 5.58% and a return on equity of 5.59%. Equinix’s quarterly revenue was up 24.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.95 EPS. equities research analysts predict that Equinix, Inc. will post 16.05 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 13th. Investors of record on Wednesday, November 15th will be given a dividend of $2.00 per share. The ex-dividend date is Tuesday, November 14th. This represents a $8.00 dividend on an annualized basis and a yield of 1.72%. Equinix’s payout ratio is presently 264.03%.
In other Equinix news, CFO Keith D. Taylor sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, November 27th. The shares were sold at an average price of $476.81, for a total transaction of $953,620.00. Following the completion of the transaction, the chief financial officer now owns 27,996 shares in the company, valued at approximately $13,348,772.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Michael Earl Campbell sold 1,427 shares of the stock in a transaction on Tuesday, September 5th. The stock was sold at an average price of $459.75, for a total transaction of $656,063.25. The disclosure for this sale can be found here. Insiders have sold 8,510 shares of company stock worth $3,927,880 over the last 90 days. 0.58% of the stock is currently owned by company 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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