Equinix Inc (EQIX) Shares Bought by Point72 Asset Management L.P.
Point72 Asset Management L.P. raised its holdings in Equinix Inc (NASDAQ:EQIX) by 46.4% during the second quarter, HoldingsChannel reports. The firm owned 38,950 shares of the financial services provider’s stock after acquiring an additional 12,350 shares during the quarter. Point72 Asset Management L.P.’s holdings in Equinix were worth $16,744,000 at the end of the most recent reporting period.
Several other hedge funds have also modified their holdings of EQIX. We Are One Seven LLC lifted its stake in shares of Equinix by 143.9% in the 1st quarter. We Are One Seven LLC now owns 361 shares of the financial services provider’s stock valued at $151,000 after acquiring an additional 213 shares during the last quarter. First Allied Advisory Services Inc. bought a new position in shares of Equinix in the 2nd quarter valued at $206,000. LexAurum Advisors LLC bought a new position in shares of Equinix in the 1st quarter valued at $214,000. Park Avenue Securities LLC bought a new position in shares of Equinix in the 2nd quarter valued at $214,000. Finally, GWM Advisors LLC bought a new position in shares of Equinix in the 1st quarter valued at $226,000. 97.35% of the stock is currently owned by hedge funds and other institutional investors.
In other news, CFO Keith D. Taylor sold 1,500 shares of Equinix stock in a transaction dated Wednesday, June 27th. The stock was sold at an average price of $429.06, for a total value of $643,590.00. Following the completion of the transaction, the chief financial officer now directly owns 24,141 shares of the company’s stock, valued at approximately $10,357,937.46. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Michael Earl Campbell sold 500 shares of Equinix stock in a transaction dated Thursday, June 21st. The stock was sold at an average price of $420.00, for a total value of $210,000.00. Following the completion of the transaction, the insider now directly owns 1,927 shares of the company’s stock, valued at $809,340. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 7,316 shares of company stock valued at $3,156,888. 0.51% of the stock is owned by corporate insiders.
Equinix (NASDAQ:EQIX) last announced its earnings results on Wednesday, August 8th. The financial services provider reported $0.85 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.93 by ($0.08). The company had revenue of $1.26 billion for the quarter, compared to the consensus estimate of $1.26 billion. Equinix had a return on equity of 7.22% and a net margin of 5.71%. The firm’s revenue for the quarter was up 18.3% on a year-over-year basis. During the same period in the prior year, the business earned $2.80 earnings per share. analysts expect that Equinix Inc will post 18.58 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 19th. Investors of record on Wednesday, August 22nd will be given a dividend of $2.28 per share. This represents a $9.12 annualized dividend and a yield of 2.05%. The ex-dividend date of this dividend is Tuesday, August 21st. Equinix’s dividend payout ratio is currently 49.22%.
A number of research analysts have recently commented on the company. Credit Suisse Group set a $520.00 price target on Equinix and gave the company a “buy” rating in a research note on Thursday, August 9th. ValuEngine cut Equinix from a “hold” rating to a “sell” rating in a research note on Thursday, August 23rd. BidaskClub cut Equinix from a “hold” rating to a “sell” rating in a research note on Thursday, August 23rd. Zacks Investment Research cut Equinix from a “buy” rating to a “hold” rating in a research note on Monday, July 9th. Finally, BMO Capital Markets assumed coverage on Equinix in a research note on Tuesday, July 17th. They issued an “outperform” rating and a $526.00 price target for the company. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and eighteen have issued a buy rating to the stock. Equinix has a consensus rating of “Buy” and an average target price of $507.10.
Equinix, Inc (Nasdaq: EQIX) connects the world's leading businesses to their customers, employees and partners inside the most-interconnected data centers. In 52 markets across five continents, Equinix is where companies come together to realize new opportunities and accelerate their business, IT and cloud strategies.
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