NEXT Financial Group Inc increased its stake in Equinix Inc (NASDAQ:EQIX) by 8.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 683 shares of the financial services provider’s stock after acquiring an additional 51 shares during the period. NEXT Financial Group Inc’s holdings in Equinix were worth $344,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently made changes to their positions in EQIX. Carroll Financial Associates Inc. raised its stake in shares of Equinix by 63.6% in the second quarter. Carroll Financial Associates Inc. now owns 54 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 21 shares in the last quarter. Meridian Wealth Management LLC purchased a new position in Equinix in the first quarter valued at $28,000. Washington Trust Bank purchased a new position in Equinix in the first quarter valued at $29,000. Spectrum Management Group Inc. purchased a new position in Equinix in the first quarter valued at $29,000. Finally, Thomas J. Herzfeld Advisors Inc. increased its holdings in Equinix by 27.9% in the first quarter. Thomas J. Herzfeld Advisors Inc. now owns 110 shares of the financial services provider’s stock valued at $50,000 after buying an additional 24 shares during the last quarter. Institutional investors and hedge funds own 99.65% of the company’s stock.
Shares of EQIX traded down $0.84 during mid-day trading on Tuesday, hitting $505.56. 9,876 shares of the company’s stock were exchanged, compared to its average volume of 277,648. Equinix Inc has a fifty-two week low of $335.29 and a fifty-two week high of $528.98. The stock has a market cap of $41.09 billion, a price-to-earnings ratio of 24.45, a P/E/G ratio of 1.76 and a beta of 0.73. The company has a 50 day simple moving average of $507.96. The company has a debt-to-equity ratio of 1.25, a current ratio of 1.56 and a quick ratio of 1.56.
Equinix (NASDAQ:EQIX) last announced its quarterly earnings data on Wednesday, May 1st. The financial services provider reported $1.44 EPS for the quarter, missing the Zacks’ consensus estimate of $5.16 by ($3.72). The firm had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.35 billion. Equinix had a net margin of 8.06% and a return on equity of 5.66%. Equinix’s revenue for the quarter was up 12.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $5.21 EPS. On average, analysts expect that Equinix Inc will post 20.73 earnings per share for the current year.
Several research firms recently commented on EQIX. Credit Suisse Group began coverage on Merck & Co., Inc. in a report on Thursday, July 11th. They issued a “buy” rating and a $95.00 target price on the stock. UBS Group increased their target price on Tableau Software to $134.00 and gave the company a “neutral” rating in a report on Thursday, May 2nd. Wells Fargo & Co reissued a “hold” rating on shares of Sprouts Farmers Market in a report on Wednesday, March 27th. Nomura set a $42.00 target price on General Motors and gave the company a “hold” rating in a report on Thursday, May 2nd. Finally, Argus dropped their target price on AmerisourceBergen from $115.00 to $100.00 and set a “buy” rating on the stock in a report on Monday, June 3rd. One analyst has rated the stock with a sell rating, three have given a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Equinix presently has a consensus rating of “Buy” and an average target price of $509.67.
In related news, insider Michael Earl Campbell sold 1,000 shares of the firm’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $491.62, for a total value of $491,620.00. Following the completion of the sale, the insider now owns 2,578 shares in the company, valued at $1,267,396.36. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Christopher B. Paisley sold 200 shares of the firm’s stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $487.88, for a total transaction of $97,576.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 2,450 shares of company stock valued at $1,202,784. 0.49% of the stock is owned by insiders.
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 52 markets across five continents, Equinix is where companies come together to realize new opportunities and accelerate their business, IT and cloud strategies.
See Also: How Investors Use a Balance Sheet
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).
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.