State Treasurer State of Michigan raised its position in shares of Equinix, Inc. (NASDAQ:EQIX) by 0.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 25,638 shares of the financial services provider’s stock after buying an additional 200 shares during the period. State Treasurer State of Michigan’s holdings in Equinix were worth $11,003,000 at the end of the most recent quarter.
Several other large investors have also made changes to their positions in EQIX. Tudor Investment Corp ET AL acquired a new stake in shares of Equinix during the first quarter worth $3,723,000. Arxis Securities LLC acquired a new stake in shares of Equinix during the first quarter worth $227,000. Korea Investment CORP increased its stake in shares of Equinix by 11.0% in the first quarter. Korea Investment CORP now owns 49,302 shares of the financial services provider’s stock worth $19,739,000 after buying an additional 4,889 shares in the last quarter. Commerzbank Aktiengesellschaft FI increased its stake in shares of Equinix by 473.7% in the first quarter. Commerzbank Aktiengesellschaft FI now owns 5,909 shares of the financial services provider’s stock worth $2,366,000 after buying an additional 4,879 shares in the last quarter. Finally, Alliancebernstein L.P. increased its stake in shares of Equinix by 4.3% in the first quarter. Alliancebernstein L.P. now owns 188,721 shares of the financial services provider’s stock worth $75,558,000 after buying an additional 7,859 shares in the last quarter. 97.36% of the stock is owned by institutional investors and hedge funds.
Equinix, Inc. (NASDAQ EQIX) traded up 0.11% during midday trading on Friday, hitting $441.69. 163,605 shares of the stock were exchanged. Equinix, Inc. has a one year low of $314.55 and a one year high of $447.26.
Equinix (NASDAQ:EQIX) last released its quarterly earnings data on Wednesday, April 26th. The financial services provider reported $4.14 earnings per share for the quarter, topping the consensus estimate of $3.20 by $0.94. Equinix had a net margin of 5.38% and a return on equity of 5.88%. The business had revenue of $949.53 million for the quarter, compared to analyst estimates of $946.89 million. During the same quarter last year, the firm earned $1.68 EPS. Equinix’s quarterly revenue was up 12.5% compared to the same quarter last year. Equities research analysts forecast that Equinix, Inc. will post $4.50 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 21st. Investors of record on Wednesday, May 24th were paid a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a yield of 1.81%. The ex-dividend date was Monday, May 22nd. Equinix’s payout ratio is 286.74%.
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EQIX has been the subject of a number of recent research reports. Mitsubishi UFJ Financial Group initiated coverage on shares of Equinix in a research report on Tuesday, April 25th. They set an “overweight” rating and a $433.00 price objective for the company. Zacks Investment Research cut shares of Equinix from a “buy” rating to a “hold” rating in a research report on Tuesday, April 18th. Cowen and Company upped their target price on shares of Equinix from $453.00 to $465.00 and gave the stock an “outperform” rating in a research report on Friday, April 28th. Jefferies Group LLC upped their target price on shares of Equinix from $378.00 to $410.00 and gave the stock a “hold” rating in a research report on Friday, April 28th. Finally, Stifel Nicolaus restated a “buy” rating and issued a $465.00 target price (up previously from $435.00) on shares of Equinix in a research report on Tuesday, April 25th. Five analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. Equinix has a consensus rating of “Buy” and an average price target of $455.89.
In other Equinix news, insider Yau Tat Lee sold 5,875 shares of Equinix stock in a transaction that occurred on Wednesday, June 7th. The shares were sold at an average price of $438.70, for a total value of $2,577,362.50. Following the transaction, the insider now owns 5,485 shares of the company’s stock, valued at $2,406,269.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Stephen M. Smith sold 5,348 shares of Equinix stock in a transaction that occurred on Thursday, June 15th. The shares were sold at an average price of $432.60, for a total transaction of $2,313,544.80. Following the completion of the transaction, the chief executive officer now directly owns 18,967 shares in the company, valued at approximately $8,205,124.20. The disclosure for this sale can be found here. Insiders have sold a total of 17,853 shares of company stock worth $7,787,982 in the last three months. 0.58% of the stock is owned by insiders.
Equinix, Inc (Equinix) connects businesses with partners and customers worldwide through a global platform of data centers. The Company connects approximately 4000 customers, across the Americas, Europe, Middle East and Africa (EMEA) and Asia-Pacific. Platform Equinix combines international business exchange (IBX) data centers, a global footprint and ecosystems.
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