Bank of The West boosted its holdings in Equinix Inc (NASDAQ:EQIX) by 9.0% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,091 shares of the financial services provider’s stock after purchasing an additional 255 shares during the period. Bank of The West’s holdings in Equinix were worth $1,338,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also modified their holdings of the stock. Edgewood Management LLC boosted its holdings in Equinix by 2.1% in the second quarter. Edgewood Management LLC now owns 2,251,911 shares of the financial services provider’s stock valued at $968,074,000 after purchasing an additional 45,315 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in Equinix by 12.2% in the first quarter. Principal Financial Group Inc. now owns 2,084,542 shares of the financial services provider’s stock valued at $871,629,000 after purchasing an additional 226,090 shares during the last quarter. American Century Companies Inc. boosted its holdings in Equinix by 18.4% in the second quarter. American Century Companies Inc. now owns 1,170,207 shares of the financial services provider’s stock valued at $503,060,000 after purchasing an additional 181,449 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Equinix by 1.5% in the second quarter. Dimensional Fund Advisors LP now owns 1,169,062 shares of the financial services provider’s stock valued at $502,564,000 after purchasing an additional 17,053 shares during the last quarter. Finally, Cbre Clarion Securities LLC boosted its holdings in Equinix by 13.1% in the second quarter. Cbre Clarion Securities LLC now owns 954,151 shares of the financial services provider’s stock valued at $410,180,000 after purchasing an additional 110,294 shares during the last quarter. 99.77% of the stock is owned by hedge funds and other institutional investors.
Shares of Equinix stock opened at $396.04 on Wednesday. The company has a debt-to-equity ratio of 1.54, a quick ratio of 1.29 and a current ratio of 1.24. The company has a market cap of $31.20 billion, a PE ratio of 21.37, a P/E/G ratio of 1.30 and a beta of 0.74. Equinix Inc has a twelve month low of $370.79 and a twelve month high of $495.35.
Equinix (NASDAQ:EQIX) last announced its quarterly earnings results on Thursday, November 1st. The financial services provider reported $1.55 earnings per share for the quarter, missing analysts’ consensus estimates of $4.47 by ($2.92). The company had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.28 billion. Equinix had a return on equity of 7.70% and a net margin of 6.46%. The firm’s revenue for the quarter was up 11.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.63 earnings per share. As a group, research analysts expect that Equinix Inc will post 18.58 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 12th. Stockholders of record on Wednesday, November 14th will be given a dividend of $2.28 per share. This represents a $9.12 dividend on an annualized basis and a dividend yield of 2.30%. The ex-dividend date is Tuesday, November 13th. Equinix’s payout ratio is 49.22%.
A number of research analysts recently commented on the company. BMO Capital Markets assumed coverage on Equinix in a report on Tuesday, July 17th. They issued an “outperform” rating and a $526.00 price target for the company. MED reduced their price target on Equinix to $460.00 and set a “positive” rating for the company in a report on Thursday, November 1st. BidaskClub downgraded Equinix from a “hold” rating to a “sell” rating in a report on Thursday, September 27th. Credit Suisse Group set a $520.00 price target on Equinix and gave the company a “buy” rating in a report on Thursday, August 9th. Finally, KeyCorp assumed coverage on Equinix in a report on Tuesday, October 23rd. They set a “sector weight” rating on the stock. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and sixteen have issued a buy rating to the stock. Equinix currently has an average rating of “Buy” and a consensus target price of $501.28.
In other news, CFO Keith D. Taylor sold 2,000 shares of the stock in a transaction that occurred on Monday, August 27th. The stock was sold at an average price of $431.65, for a total transaction of $863,300.00. Following the sale, the chief financial officer now directly owns 21,141 shares in the company, valued at approximately $9,125,512.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Michael Earl Campbell sold 1,316 shares of the stock in a transaction that occurred on Wednesday, September 5th. The stock was sold at an average price of $423.38, for a total value of $557,168.08. Following the sale, the insider now owns 3,954 shares in the company, valued at $1,674,044.52. The disclosure for this sale can be found here. Insiders have sold a total of 3,566 shares of company stock worth $1,528,778 over the last quarter. Insiders own 0.51% of the company’s stock.
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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