Tower Research Capital LLC TRC lessened its stake in shares of Equinix Inc (NASDAQ:EQIX) by 51.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 758 shares of the financial services provider’s stock after selling 818 shares during the quarter. Tower Research Capital LLC TRC’s holdings in Equinix were worth $382,000 at the end of the most recent reporting period.
Several other large investors also recently modified their holdings of the company. Patriot Financial Group Insurance Agency LLC purchased a new stake in Equinix in the 2nd quarter valued at $26,000. Meeder Asset Management Inc. purchased a new stake in Equinix in the 2nd quarter valued at $26,000. Carroll Financial Associates Inc. raised its position in Equinix by 63.6% in the 2nd quarter. Carroll Financial Associates Inc. now owns 54 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 21 shares during the last quarter. Meridian Wealth Management LLC purchased a new stake in Equinix in the 1st quarter valued at $28,000. Finally, Johnson Financial Group Inc. purchased a new stake in Equinix in the 2nd quarter valued at $29,000.
EQIX has been the subject of several research reports. ValuEngine upgraded shares of Equinix from a “hold” rating to a “buy” rating in a research report on Friday. Morgan Stanley upped their price target on shares of Equinix from $435.00 to $510.00 and gave the company an “equal weight” rating in a research report on Thursday. BidaskClub downgraded shares of Equinix from a “strong-buy” rating to a “buy” rating in a research report on Thursday, September 12th. JPMorgan Chase & Co. upped their price target on shares of Equinix from $524.00 to $580.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. Finally, Argus initiated coverage on shares of Equinix in a research report on Monday, June 3rd. They issued a “buy” rating and a $550.00 price target for the company. One analyst has rated the stock with a sell rating, three have given a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $532.40.
In related news, CAO Simon Miller sold 475 shares of the stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $564.11, for a total value of $267,952.25. Following the sale, the chief accounting officer now directly owns 951 shares of the company’s stock, valued at approximately $536,468.61. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 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 transaction of $1,754,347.98. Following the completion of the sale, the director now directly owns 4,024 shares in the company, valued at $2,212,314.72. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 12,409 shares of company stock worth $6,727,033. Corporate insiders own 0.49% of the company’s stock.
Shares of NASDAQ:EQIX traded down $1.90 on Friday, reaching $567.13. 224,854 shares of the company were exchanged, compared to its average volume of 349,393. The company has a current ratio of 1.59, a quick ratio of 1.59 and a debt-to-equity ratio of 1.34. Equinix Inc has a 1-year low of $335.29 and a 1-year high of $570.83. The firm has a market cap of $45.20 billion, a price-to-earnings ratio of 27.41, a price-to-earnings-growth ratio of 1.85 and a beta of 0.70. The company has a 50-day moving average of $546.01 and a 200-day moving average of $495.39.
Equinix (NASDAQ:EQIX) last posted its quarterly earnings results on Wednesday, July 31st. The financial services provider reported $1.69 earnings per share for the quarter, missing the Zacks’ consensus estimate of $5.14 by ($3.45). Equinix had a return on equity of 6.29% and a net margin of 9.29%. The company had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.39 billion. During the same period last year, the company earned $3.63 earnings per share. The business’s revenue for the quarter was up 9.8% compared to the same quarter last year. As a group, analysts forecast that Equinix Inc will post 20.69 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders of record on Wednesday, August 21st were paid a dividend of $2.46 per share. The ex-dividend date was Tuesday, August 20th. This represents a $9.84 dividend on an annualized basis and a dividend yield of 1.74%. Equinix’s dividend payout ratio (DPR) is presently 47.56%.
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.
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