Quest Capital Management Inc. ADV decreased its position in shares of Equinix Inc (NASDAQ:EQIX) by 99.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 565 shares of the financial services provider’s stock after selling 74,882 shares during the period. Quest Capital Management Inc. ADV’s holdings in Equinix were worth $285,000 at the end of the most recent quarter.
A number of other hedge funds have also recently bought and sold shares of EQIX. Carroll Financial Associates Inc. grew its holdings in shares of Equinix by 63.6% during the 2nd quarter. Carroll Financial Associates Inc. now owns 54 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 21 shares in the last quarter. Meridian Wealth Management LLC acquired a new stake in Equinix in the first quarter valued at about $28,000. Berman Capital Advisors LLC boosted its stake in Equinix by 44.9% in the second quarter. Berman Capital Advisors LLC now owns 71 shares of the financial services provider’s stock valued at $35,000 after buying an additional 22 shares in the last quarter. Focused Wealth Management Inc acquired a new stake in Equinix in the second quarter valued at about $39,000. Finally, Thomas J. Herzfeld Advisors Inc. boosted its stake 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 in the last quarter. Hedge funds and other institutional investors own 95.48% of the company’s stock.
In other Equinix news, CAO Simon Miller sold 385 shares of the stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $516.27, for a total value of $198,763.95. Following the completion of the transaction, the chief accounting officer now directly owns 689 shares in the company, valued at $355,710.03. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Camp Peter Van sold 3,191 shares of the stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $549.78, for a total value of $1,754,347.98. Following the completion of the transaction, the director now owns 4,024 shares of the company’s stock, valued at $2,212,314.72. The disclosure for this sale can be found here. Insiders sold 7,786 shares of company stock valued at $4,156,774 over the last quarter. Corporate insiders own 0.49% of the company’s stock.
Equinix stock traded down $4.76 during trading hours on Tuesday, hitting $550.97. The stock had a trading volume of 4,878 shares, compared to its average volume of 468,275. The company has a quick ratio of 1.59, a current ratio of 1.59 and a debt-to-equity ratio of 1.34. The stock has a market cap of $44.50 billion, a price-to-earnings ratio of 26.62, a P/E/G ratio of 1.83 and a beta of 0.73. Equinix Inc has a one year low of $335.29 and a one year high of $557.96. The business’s 50 day simple moving average is $521.27 and its 200-day simple moving average is $474.47.
Equinix (NASDAQ:EQIX) last posted its earnings results on Wednesday, July 31st. The financial services provider reported $1.69 EPS for the quarter, missing the consensus estimate of $5.14 by ($3.45). The firm had revenue of $1.38 billion during the quarter, compared to the consensus estimate of $1.39 billion. Equinix had a net margin of 9.29% and a return on equity of 6.29%. Equinix’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.63 earnings per share. Research analysts anticipate that Equinix Inc will post 20.7 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 18th. Shareholders of record on Wednesday, August 21st will be given a $2.46 dividend. The ex-dividend date of this dividend is Tuesday, August 20th. This represents a $9.84 annualized dividend and a yield of 1.79%. Equinix’s dividend payout ratio is presently 47.56%.
Several analysts recently weighed in on the company. Deutsche Bank raised their price objective on Equinix from $480.00 to $500.00 and gave the company a “buy” rating in a research note on Thursday, May 9th. Credit Suisse Group set a $556.00 price objective on Equinix and gave the company a “buy” rating in a research note on Thursday, July 11th. Argus assumed coverage on Equinix in a research note on Monday, June 3rd. They issued a “buy” rating and a $550.00 price objective on the stock. UBS Group raised their price objective on Equinix from $510.00 to $560.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Finally, Guggenheim raised their price objective on Equinix from $505.00 to $540.00 and gave the company a “sell” rating in a research note on Tuesday, July 2nd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, seventeen have assigned a buy rating and two have given a strong buy rating to the company’s stock. Equinix presently has a consensus rating of “Buy” and a consensus price target of $527.21.
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.
Further Reading: Hold Rating
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.