Equinix Inc (EQIX) Position Cut by IBM Retirement Fund

Share on StockTwits

IBM Retirement Fund lessened its holdings in shares of Equinix Inc (NASDAQ:EQIX) by 11.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,520 shares of the financial services provider’s stock after selling 193 shares during the quarter. IBM Retirement Fund’s holdings in Equinix were worth $653,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of EQIX. Reliance Trust Co. of Delaware increased its stake in Equinix by 8.1% in the 2nd quarter. Reliance Trust Co. of Delaware now owns 1,662 shares of the financial services provider’s stock worth $715,000 after acquiring an additional 124 shares during the last quarter. Fieldpoint Private Securities LLC increased its stake in Equinix by 27.0% in the 2nd quarter. Fieldpoint Private Securities LLC now owns 635 shares of the financial services provider’s stock worth $273,000 after acquiring an additional 135 shares during the last quarter. Candriam Luxembourg S.C.A. increased its stake in Equinix by 2.3% in the 1st quarter. Candriam Luxembourg S.C.A. now owns 5,989 shares of the financial services provider’s stock worth $2,504,000 after acquiring an additional 137 shares during the last quarter. Mason Street Advisors LLC increased its stake in Equinix by 1.3% in the 1st quarter. Mason Street Advisors LLC now owns 11,036 shares of the financial services provider’s stock worth $4,615,000 after acquiring an additional 139 shares during the last quarter. Finally, LS Investment Advisors LLC increased its stake in Equinix by 7.5% in the 1st quarter. LS Investment Advisors LLC now owns 2,044 shares of the financial services provider’s stock worth $855,000 after acquiring an additional 142 shares during the last quarter. 97.35% of the stock is currently owned by institutional investors.

In related news, insider Charles J. Meyers sold 400 shares of the business’s stock in a transaction on Friday, June 15th. The stock was sold at an average price of $397.49, for a total transaction of $158,996.00. Following the completion of the transaction, the insider now owns 4,116 shares in the company, valued at approximately $1,636,068.84. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Michael Earl Campbell sold 1,316 shares of the business’s stock in a transaction on Wednesday, September 5th. The shares were sold at an average price of $423.38, for a total value of $557,168.08. Following the transaction, the insider now owns 3,954 shares of the company’s stock, valued at approximately $1,674,044.52. The disclosure for this sale can be found here. In the last quarter, insiders sold 7,716 shares of company stock valued at $3,315,884. Company insiders own 0.51% of the company’s stock.

Shares of Equinix stock opened at $431.09 on Friday. The company has a market capitalization of $34.32 billion, a PE ratio of 23.26, a P/E/G ratio of 1.47 and a beta of 0.47. 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 Inc has a one year low of $370.79 and a one year high of $495.35.

Equinix (NASDAQ:EQIX) last announced its earnings results on Wednesday, August 8th. The financial services provider reported $0.85 EPS for the quarter, missing the Zacks’ consensus estimate of $0.93 by ($0.08). The company had revenue of $1.26 billion during the quarter, compared to analysts’ expectations of $1.26 billion. Equinix had a return on equity of 7.22% and a net margin of 5.71%. Equinix’s revenue for the quarter was up 18.3% compared to the same quarter last year. During the same quarter last year, the firm posted $2.80 EPS. research analysts forecast that Equinix Inc will post 18.66 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 19th. Stockholders of record on Wednesday, August 22nd will be issued a $2.28 dividend. This represents a $9.12 dividend on an annualized basis and a dividend yield of 2.12%. The ex-dividend date of this dividend is Tuesday, August 21st. Equinix’s dividend payout ratio (DPR) is 49.22%.

A number of analysts have issued reports on EQIX shares. BidaskClub raised Equinix from a “sell” rating to a “hold” rating in a research note on Tuesday, June 19th. Zacks Investment Research raised Equinix from a “hold” rating to a “buy” rating and set a $480.00 price objective on the stock in a research note on Tuesday, July 3rd. Mitsubishi UFJ Financial Group lifted their price objective on Equinix to $483.00 and gave the stock an “overweight” rating in a research note on Friday, August 17th. ValuEngine downgraded Equinix from a “hold” rating to a “sell” rating in a research note on Thursday, August 23rd. Finally, Stifel Nicolaus started coverage on Equinix in a research note on Tuesday, July 17th. They issued a “buy” rating and a $500.00 price objective on the stock. Three research analysts have rated the stock with a sell rating, two have assigned a hold rating and eighteen have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $507.10.

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.

Read More: Moving Average (MA)

Want to see what other hedge funds are holding EQIX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Equinix Inc (NASDAQ:EQIX).

Institutional Ownership by Quarter for Equinix (NASDAQ:EQIX)

Receive News & Ratings for Equinix Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Equinix and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply