Ritholtz Wealth Management Buys New Shares in Equinix Inc (NASDAQ:EQIX)

Ritholtz Wealth Management bought a new stake in Equinix Inc (NASDAQ:EQIX) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 313 shares of the financial services provider’s stock, valued at approximately $238,000.

Several other large investors have also recently added to or reduced their stakes in EQIX. GQG Partners LLC grew its stake in shares of Equinix by 230.8% in the second quarter. GQG Partners LLC now owns 1,173,572 shares of the financial services provider’s stock valued at $824,406,000 after buying an additional 818,777 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in Equinix by 79.1% during the second quarter. Charles Schwab Investment Management Inc. now owns 710,976 shares of the financial services provider’s stock worth $499,319,000 after purchasing an additional 313,947 shares during the period. BlackRock Inc. boosted its position in Equinix by 4.1% during the second quarter. BlackRock Inc. now owns 6,583,185 shares of the financial services provider’s stock worth $4,623,370,000 after purchasing an additional 257,579 shares during the period. State Street Corp boosted its position in Equinix by 4.1% during the first quarter. State Street Corp now owns 3,631,891 shares of the financial services provider’s stock worth $2,268,370,000 after purchasing an additional 143,432 shares during the period. Finally, APG Asset Management US Inc. boosted its position in Equinix by 123.8% during the second quarter. APG Asset Management US Inc. now owns 257,370 shares of the financial services provider’s stock worth $180,751,000 after purchasing an additional 142,370 shares during the period. 94.12% of the stock is owned by institutional investors and hedge funds.

EQIX stock traded down $6.31 during midday trading on Monday, reaching $770.72. The company had a trading volume of 2,159 shares, compared to its average volume of 489,314. The company has a market capitalization of $68.81 billion, a price-to-earnings ratio of 134.67, a price-to-earnings-growth ratio of 2.74 and a beta of 0.43. The stock has a 50 day moving average price of $775.94 and a 200-day moving average price of $728.46. Equinix Inc has a 1-year low of $477.87 and a 1-year high of $839.77. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.55 and a quick ratio of 1.55.

Equinix (NASDAQ:EQIX) last posted its quarterly earnings results on Wednesday, July 29th. The financial services provider reported $1.52 EPS for the quarter, missing the Zacks’ consensus estimate of $5.40 by ($3.88). The company had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.46 billion. Equinix had a net margin of 8.69% and a return on equity of 5.43%. The firm’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same period last year, the firm earned $1.69 EPS. As a group, research analysts anticipate that Equinix Inc will post 21.72 earnings per share for the current year.

A number of research firms have commented on EQIX. JPMorgan Chase & Co. lifted their price objective on shares of Equinix from $725.00 to $861.00 and gave the stock an “overweight” rating in a research report on Thursday, July 30th. Credit Suisse Group lifted their price objective on shares of Equinix from $704.00 to $782.00 and gave the stock an “outperform” rating in a research report on Thursday, July 30th. SunTrust Banks lifted their price objective on shares of Equinix from $750.00 to $820.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. Jefferies Financial Group reaffirmed a “buy” rating and set a $824.00 price objective on shares of Equinix in a research report on Tuesday, August 11th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on Equinix from $760.00 to $850.00 and gave the stock a “buy” rating in a report on Wednesday, August 5th. Four investment analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $791.40.

In other Equinix news, CFO Keith D. Taylor sold 1,000 shares of the business’s stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $767.45, for a total transaction of $767,450.00. Following the completion of the transaction, the chief financial officer now owns 31,403 shares of the company’s stock, valued at $24,100,232.35. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Sara Baack sold 250 shares of the business’s stock in a transaction dated Thursday, October 1st. The stock was sold at an average price of $764.24, for a total value of $191,060.00. Following the transaction, the insider now directly owns 10,194 shares of the company’s stock, valued at approximately $7,790,662.56. The disclosure for this sale can be found here. In the last three months, insiders have sold 6,807 shares of company stock valued at $5,333,657. Insiders own 0.51% of the company’s stock.

About Equinix

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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Institutional Ownership by Quarter for Equinix (NASDAQ:EQIX)

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