Westpac Banking Corp trimmed its stake in Equinix Inc (NASDAQ:EQIX) by 6.6% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 52,467 shares of the financial services provider’s stock after selling 3,714 shares during the quarter. Westpac Banking Corp owned approximately 0.06% of Equinix worth $26,459,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in EQIX. BlackRock Inc. raised its holdings in shares of Equinix by 10.6% in the first quarter. BlackRock Inc. now owns 6,584,484 shares of the financial services provider’s stock worth $2,983,823,000 after acquiring an additional 632,328 shares during the last quarter. Daiwa Securities Group Inc. raised its holdings in shares of Equinix by 23.6% in the first quarter. Daiwa Securities Group Inc. now owns 1,314,451 shares of the financial services provider’s stock worth $595,656,000 after acquiring an additional 250,921 shares during the last quarter. Pictet Asset Management Ltd. raised its holdings in shares of Equinix by 24.2% in the first quarter. Pictet Asset Management Ltd. now owns 628,200 shares of the financial services provider’s stock worth $284,675,000 after acquiring an additional 122,286 shares during the last quarter. Clearbridge Investments LLC grew its position in shares of Equinix by 10.2% in the first quarter. Clearbridge Investments LLC now owns 1,219,458 shares of the financial services provider’s stock valued at $552,610,000 after purchasing an additional 112,564 shares during the period. Finally, American Century Companies Inc. grew its position in shares of Equinix by 11.7% in the first quarter. American Century Companies Inc. now owns 1,046,494 shares of the financial services provider’s stock valued at $474,229,000 after purchasing an additional 109,404 shares during the period. 97.83% of the stock is owned by institutional investors.

In other news, insider Michael Earl Campbell sold 1,250 shares of the company’s stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $490.87, for a total value of $613,587.50. Following the completion of the sale, the insider now owns 2,578 shares of the company’s stock, valued at $1,265,462.86. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Christopher B. Paisley sold 200 shares of the company’s stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $487.88, for a total value of $97,576.00. The disclosure for this sale can be found here. Insiders sold 10,236 shares of company stock valued at $5,359,558 in the last ninety days. Company insiders own 0.49% of the company’s stock.

EQIX stock traded down $3.85 during trading on Tuesday, reaching $549.45. 24,998 shares of the stock traded hands, compared to its average volume of 420,594. The firm’s 50 day simple moving average is $514.70. Equinix Inc has a 52-week low of $335.29 and a 52-week high of $557.54. The company has a quick ratio of 1.59, a current ratio of 1.59 and a debt-to-equity ratio of 1.34. The firm has a market cap of $44.67 billion, a price-to-earnings ratio of 26.58, a PEG ratio of 1.83 and a beta of 0.73.

Equinix (NASDAQ:EQIX) last posted its quarterly earnings results on Wednesday, July 31st. The financial services provider reported $1.69 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $5.14 by ($3.45). Equinix had a net margin of 9.29% and a return on equity of 6.29%. The firm had revenue of $1.38 billion for the quarter, compared to analysts’ expectations of $1.39 billion. During the same period last year, the firm posted $3.63 EPS. Equinix’s revenue was up 9.8% on a year-over-year basis. Equities research analysts anticipate that Equinix Inc will post 20.7 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 18th. Stockholders of record on Wednesday, August 21st will be given a $2.46 dividend. This represents a $9.84 annualized dividend and a dividend yield of 1.79%. The ex-dividend date is Tuesday, August 20th. Equinix’s payout ratio is 47.56%.

EQIX has been the subject of a number of recent analyst reports. Guggenheim lifted their price objective on Equinix from $505.00 to $540.00 and gave the company a “sell” rating in a research report on Tuesday, July 2nd. Citigroup lifted their price objective on Equinix from $508.00 to $527.00 and gave the company a “buy” rating in a research report on Thursday, May 2nd. Oppenheimer lifted their price objective on Equinix from $500.00 to $550.00 and gave the company an “outperform” rating in a research report on Thursday, August 1st. UBS Group lifted their price objective on Equinix from $510.00 to $560.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Finally, Credit Suisse Group set a $556.00 price objective on Equinix and gave the company a “buy” rating in a research report on Thursday, July 11th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $527.21.

Equinix Profile

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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Institutional Ownership by Quarter for Equinix (NASDAQ:EQIX)

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