Securian Asset Management Inc reduced its stake in shares of Equinix Inc (NASDAQ:EQIX) by 23.1% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 91,114 shares of the financial services provider’s stock after selling 27,400 shares during the period. Equinix makes up approximately 1.0% of Securian Asset Management Inc’s holdings, making the stock its 12th biggest holding. Securian Asset Management Inc’s holdings in Equinix were worth $39,169,000 as of its most recent SEC filing.
A number of other hedge funds also recently made changes to their positions in the business. Barton Investment Management raised its holdings in shares of Equinix by 1.6% in the second quarter. Barton Investment Management now owns 43,660 shares of the financial services provider’s stock valued at $18,768,000 after purchasing an additional 681 shares during the last quarter. Wells Fargo & Company MN grew its stake in shares of Equinix by 3.6% in the second quarter. Wells Fargo & Company MN now owns 426,347 shares of the financial services provider’s stock valued at $183,283,000 after buying an additional 14,746 shares in the last quarter. Vista Equity Partners Management LLC bought a new position in shares of Equinix in the first quarter valued at $5,384,000. IFM Investors Pty Ltd grew its stake in shares of Equinix by 46.1% in the second quarter. IFM Investors Pty Ltd now owns 3,556 shares of the financial services provider’s stock valued at $1,529,000 after buying an additional 1,122 shares in the last quarter. Finally, Russell Investments Group Ltd. grew its stake in shares of Equinix by 4.2% in the first quarter. Russell Investments Group Ltd. now owns 310,100 shares of the financial services provider’s stock valued at $129,478,000 after buying an additional 12,612 shares in the last quarter. Hedge funds and other institutional investors own 97.35% of the company’s stock.
Several equities analysts recently weighed in on EQIX shares. TheStreet raised shares of Equinix from a “c+” rating to a “b-” rating in a research note on Tuesday, June 26th. BidaskClub raised shares of Equinix from a “hold” rating to a “buy” rating in a research note on Monday, June 25th. Zacks Investment Research raised shares of Equinix from a “hold” rating to a “buy” rating and set a $480.00 target price for the company in a research note on Tuesday, July 3rd. Credit Suisse Group set a $525.00 target price on shares of Equinix and gave the company a “buy” rating in a research note on Thursday, May 3rd. Finally, Deutsche Bank decreased their target price on shares of Equinix from $550.00 to $540.00 and set a “buy” rating for the company in a research note on Thursday, May 31st. One analyst has rated the stock with a sell rating, four have given a hold rating and eighteen have given a buy rating to the company’s stock. Equinix currently has an average rating of “Buy” and a consensus target price of $507.10.
In related news, CFO Keith D. Taylor sold 1,500 shares of the business’s stock in a transaction dated Friday, July 27th. The stock was sold at an average price of $442.49, for a total value of $663,735.00. Following the completion of the transaction, the chief financial officer now owns 22,741 shares of the company’s stock, valued at $10,062,665.09. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Michael Earl Campbell sold 250 shares of the business’s stock in a transaction dated Wednesday, August 15th. The shares were sold at an average price of $433.24, for a total value of $108,310.00. Following the completion of the transaction, the insider now directly owns 1,427 shares of the company’s stock, valued at approximately $618,233.48. The disclosure for this sale can be found here. In the last ninety days, insiders sold 6,400 shares of company stock valued at $2,680,916. 0.51% of the stock is owned by insiders.
EQIX opened at $438.33 on Tuesday. Equinix Inc has a fifty-two week low of $370.79 and a fifty-two week high of $495.35. The company has a debt-to-equity ratio of 1.60, a current ratio of 1.29 and a quick ratio of 1.29. The firm has a market cap of $34.89 billion, a PE ratio of 23.66, a PEG ratio of 1.49 and a beta of 0.51.
Equinix (NASDAQ:EQIX) last posted its earnings results on Wednesday, August 8th. The financial services provider reported $0.85 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.93 by ($0.08). The firm had revenue of $1.26 billion for the quarter, compared to analyst estimates of $1.26 billion. Equinix had a return on equity of 7.22% and a net margin of 5.71%. The firm’s quarterly revenue was up 18.3% compared to the same quarter last year. During the same period in the prior year, the business posted $2.80 EPS. sell-side analysts predict that Equinix Inc will post 18.66 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 19th. Investors of record on Wednesday, August 22nd will be paid a $2.28 dividend. This represents a $9.12 dividend on an annualized basis and a yield of 2.08%. The ex-dividend date of this dividend is Tuesday, August 21st. Equinix’s dividend payout ratio (DPR) is presently 49.22%.
Equinix Company Profile
Equinix, Inc (Nasdaq: EQIX) connects the world's leading businesses to their customers, employees and partners inside the most-interconnected data centers. In 48 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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