Teacher Retirement System of Texas cut its position in Equinix Inc (NASDAQ:EQIX) by 7.2% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 16,069 shares of the financial services provider’s stock after selling 1,243 shares during the period. Teacher Retirement System of Texas’ holdings in Equinix were worth $6,908,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors have also recently made changes to their positions in EQIX. We Are One Seven LLC increased its stake in shares of Equinix by 143.9% in the first quarter. We Are One Seven LLC now owns 361 shares of the financial services provider’s stock worth $151,000 after purchasing an additional 213 shares in the last quarter. Fieldpoint Private Securities LLC purchased a new stake in shares of Equinix in the first quarter worth $209,000. LexAurum Advisors LLC purchased a new stake in shares of Equinix in the first quarter worth $214,000. Park Avenue Securities LLC purchased a new stake in shares of Equinix in the second quarter worth $214,000. Finally, GWM Advisors LLC purchased a new stake in shares of Equinix in the first quarter worth $226,000. 97.35% of the stock is owned by hedge funds and other institutional investors.
In other Equinix news, CFO Keith D. Taylor sold 2,000 shares of Equinix stock in a transaction on Tuesday, May 29th. The shares were sold at an average price of $392.75, for a total value of $785,500.00. Following the completion of the transaction, the chief financial officer now directly owns 26,241 shares of the company’s stock, valued at approximately $10,306,152.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Michael Earl Campbell sold 250 shares of Equinix stock in a transaction on Wednesday, August 15th. The stock was sold at an average price of $433.24, for a total transaction 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 $618,233.48. The disclosure for this sale can be found here. Insiders sold a total of 6,400 shares of company stock valued at $2,680,916 over the last three months. Corporate insiders own 0.51% of the company’s stock.
EQIX has been the subject of several research analyst reports. Credit Suisse Group raised their target price on shares of Equinix from $519.00 to $525.00 and gave the company a “buy” rating in a research note on Friday, April 27th. Deutsche Bank cut 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. Zacks Investment Research cut shares of Equinix from a “hold” rating to a “sell” rating in a research note on Tuesday, July 17th. ValuEngine cut shares of Equinix from a “hold” rating to a “sell” rating in a research note on Thursday, May 3rd. Finally, Stifel Nicolaus initiated coverage on shares of Equinix in a research note on Tuesday, July 17th. They set a “buy” rating and a $500.00 target price for the company. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and eighteen have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $507.10.
Shares of NASDAQ:EQIX opened at $438.33 on Tuesday. Equinix Inc has a 52 week low of $370.79 and a 52 week high of $495.35. The firm has a market capitalization of $34.89 billion, a price-to-earnings ratio of 23.66, a price-to-earnings-growth ratio of 1.49 and a beta of 0.51. The company has a debt-to-equity ratio of 1.60, a current ratio of 1.29 and a quick ratio of 1.29.
Equinix (NASDAQ:EQIX) last issued its quarterly earnings data on Wednesday, August 8th. The financial services provider reported $0.85 EPS for the quarter, missing analysts’ consensus estimates of $0.93 by ($0.08). Equinix had a return on equity of 7.22% and a net margin of 5.71%. The business had revenue of $1.26 billion during the quarter, compared to analysts’ expectations of $1.26 billion. During the same period in the previous year, the business earned $2.80 earnings per share. The business’s quarterly revenue was up 18.3% on a year-over-year basis. research analysts expect that Equinix Inc will post 18.66 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 19th. Shareholders of record on Wednesday, August 22nd will be paid a $2.28 dividend. The ex-dividend date is Tuesday, August 21st. This represents a $9.12 dividend on an annualized basis and a dividend yield of 2.08%. Equinix’s payout ratio is currently 49.22%.
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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