Insight Wealth Strategies LLC acquired a new stake in Equinix Inc (NASDAQ:EQIX) in the third quarter, Holdings Channel reports. The institutional investor acquired 2,344 shares of the financial services provider’s stock, valued at approximately $1,352,000.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in EQIX. Nuveen Asset Management LLC increased its holdings in Equinix by 195.3% in the second quarter. Nuveen Asset Management LLC now owns 1,038,360 shares of the financial services provider’s stock valued at $523,634,000 after purchasing an additional 686,771 shares during the last quarter. Waddell & Reed Financial Inc. bought a new stake in Equinix in the second quarter valued at about $94,127,000. Sumitomo Mitsui Trust Holdings Inc. increased its holdings in Equinix by 43.6% in the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 428,318 shares of the financial services provider’s stock valued at $247,054,000 after purchasing an additional 130,121 shares during the last quarter. Vanguard Group Inc. increased its holdings in Equinix by 1.0% in the second quarter. Vanguard Group Inc. now owns 10,717,936 shares of the financial services provider’s stock valued at $5,404,948,000 after purchasing an additional 102,976 shares during the last quarter. Finally, Janus Henderson Group PLC increased its holdings in Equinix by 36.4% in the second quarter. Janus Henderson Group PLC now owns 356,381 shares of the financial services provider’s stock valued at $179,710,000 after purchasing an additional 95,141 shares during the last quarter. Institutional investors and hedge funds own 98.59% of the company’s stock.
In related news, Director Christopher B. Paisley sold 200 shares of the stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $551.24, for a total transaction of $110,248.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Karl Strohmeyer sold 1,896 shares of the stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $551.54, for a total value of $1,045,719.84. Following the transaction, the insider now directly owns 1,895 shares of the company’s stock, valued at $1,045,168.30. The disclosure for this sale can be found here. Insiders have sold 5,462 shares of company stock valued at $3,041,825 over the last three months. Insiders own 0.49% of the company’s stock.
A number of equities research analysts recently commented on EQIX shares. JPMorgan Chase & Co. upped their price objective on Equinix from $524.00 to $580.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. ValuEngine downgraded Equinix from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Mitsubishi UFJ Financial Group started coverage on Equinix in a report on Tuesday, September 10th. They issued an “overweight” rating and a $605.00 price target for the company. Raymond James increased their price target on Equinix from $560.00 to $625.00 and gave the stock a “strong-buy” rating in a report on Thursday, October 31st. Finally, Oppenheimer increased their price target on Equinix from $550.00 to $650.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, four 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 an average rating of “Buy” and an average price target of $567.90.
Shares of NASDAQ:EQIX traded up $9.67 during mid-day trading on Wednesday, reaching $540.91. 34,214 shares of the stock were exchanged, compared to its average volume of 444,456. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 1.33. The company has a market cap of $42.88 billion, a P/E ratio of 26.14, a P/E/G ratio of 1.93 and a beta of 0.69. Equinix Inc has a one year low of $335.29 and a one year high of $609.97. The stock’s 50 day simple moving average is $565.11 and its 200-day simple moving average is $526.37.
Equinix (NASDAQ:EQIX) last issued its quarterly earnings results on Wednesday, October 30th. The financial services provider reported $1.41 EPS for the quarter, missing the consensus estimate of $4.96 by ($3.55). Equinix had a net margin of 9.03% and a return on equity of 5.94%. The company had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.41 billion. During the same period last year, the company posted $1.55 earnings per share. The business’s revenue for the quarter was up 8.8% on a year-over-year basis. Analysts anticipate that Equinix Inc will post 20.63 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Wednesday, November 20th will be given a dividend of $2.46 per share. The ex-dividend date is Tuesday, November 19th. This represents a $9.84 annualized dividend and a yield of 1.82%. 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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