Alliancebernstein L.P. decreased its stake in Equinix, Inc. (NASDAQ:EQIX) by 2.6% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 185,104 shares of the financial services provider’s stock after selling 4,969 shares during the quarter. Alliancebernstein L.P. owned about 0.24% of Equinix worth $83,893,000 at the end of the most recent reporting period.
Several other institutional investors also recently made changes to their positions in EQIX. Edgewood Management LLC boosted its holdings in Equinix by 1.0% during the 3rd quarter. Edgewood Management LLC now owns 1,862,778 shares of the financial services provider’s stock valued at $831,358,000 after acquiring an additional 18,248 shares during the period. Bank of New York Mellon Corp raised its position in Equinix by 4.5% during the 4th quarter. Bank of New York Mellon Corp now owns 1,560,124 shares of the financial services provider’s stock valued at $707,080,000 after purchasing an additional 67,029 shares in the last quarter. Daiwa Securities Group Inc. raised its position in Equinix by 7.2% during the 4th quarter. Daiwa Securities Group Inc. now owns 1,382,606 shares of the financial services provider’s stock valued at $626,624,000 after purchasing an additional 93,181 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Equinix by 2.3% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,092,554 shares of the financial services provider’s stock valued at $487,600,000 after purchasing an additional 24,433 shares in the last quarter. Finally, American Century Companies Inc. raised its position in Equinix by 2.2% during the 4th quarter. American Century Companies Inc. now owns 1,038,081 shares of the financial services provider’s stock valued at $470,479,000 after purchasing an additional 22,030 shares in the last quarter. Hedge funds and other institutional investors own 96.06% of the company’s stock.
In related news, CFO Keith D. Taylor sold 1,500 shares of the company’s stock in a transaction dated Tuesday, March 27th. The stock was sold at an average price of $411.74, for a total value of $617,610.00. Following the completion of the transaction, the chief financial officer now owns 29,341 shares of the company’s stock, valued at approximately $12,080,863.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Michael Earl Campbell sold 590 shares of the company’s stock in a transaction dated Wednesday, January 17th. The stock was sold at an average price of $443.92, for a total value of $261,912.80. Following the completion of the transaction, the insider now directly owns 1,658 shares of the company’s stock, valued at approximately $736,019.36. The disclosure for this sale can be found here. Insiders sold a total of 38,999 shares of company stock valued at $16,487,201 in the last ninety days. 0.58% of the stock is currently owned by insiders.
A number of equities research analysts have weighed in on EQIX shares. Credit Suisse Group set a $515.00 target price on Equinix and gave the company a “buy” rating in a research report on Monday, December 18th. Bank of America reissued a “buy” rating and issued a $520.00 price target (up from $450.21) on shares of Equinix in a research report on Wednesday, December 13th. Guggenheim set a $515.00 price target on Equinix and gave the stock a “buy” rating in a research report on Thursday, February 15th. UBS raised Equinix from a “neutral” rating to a “buy” rating and set a $510.00 price target for the company in a research report on Monday, January 29th. Finally, Barclays reissued a “buy” rating and issued a $517.00 price target on shares of Equinix in a research report on Friday, January 19th. Four research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $499.00.
Shares of EQIX traded down $9.59 during mid-day trading on Monday, reaching $408.55. The company had a trading volume of 627,345 shares, compared to its average volume of 751,347. Equinix, Inc. has a 52-week low of $370.79 and a 52-week high of $495.35. The company has a quick ratio of 1.81, a current ratio of 1.81 and a debt-to-equity ratio of 1.45. The company has a market capitalization of $33,128.43, a price-to-earnings ratio of 22.05, a PEG ratio of 1.27 and a beta of 0.50.
Equinix (NASDAQ:EQIX) last issued its earnings results on Wednesday, February 14th. The financial services provider reported $0.82 EPS for the quarter, missing analysts’ consensus estimates of $3.87 by ($3.05). The company had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.19 billion. Equinix had a return on equity of 6.54% and a net margin of 5.33%. The firm’s quarterly revenue was up 27.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $4.08 EPS. equities analysts anticipate that Equinix, Inc. will post 18.73 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 21st. Investors of record on Monday, February 26th were issued a $2.28 dividend. This is a boost from Equinix’s previous quarterly dividend of $2.00. The ex-dividend date of this dividend was Friday, February 23rd. This represents a $9.12 dividend on an annualized basis and a yield of 2.23%. Equinix’s dividend payout ratio is presently 49.22%.
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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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