Ritholtz Wealth Management Purchases New Stake in Equinix Inc (NASDAQ:EQIX)

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

A number of other hedge funds and other institutional investors have also modified their holdings of EQIX. State Street Corp raised its stake 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 acquiring an additional 143,432 shares in the last quarter. AXA raised its stake in Equinix by 51.8% during the first quarter. AXA now owns 97,305 shares of the financial services provider’s stock worth $60,773,000 after acquiring an additional 33,199 shares in the last quarter. APG Asset Management N.V. raised its stake in Equinix by 313.0% during the first quarter. APG Asset Management N.V. now owns 63,503 shares of the financial services provider’s stock worth $39,662,000 after acquiring an additional 48,127 shares in the last quarter. Pensionfund DSM Netherlands raised its stake in Equinix by 41.2% during the second quarter. Pensionfund DSM Netherlands now owns 6,354 shares of the financial services provider’s stock worth $4,462,000 after acquiring an additional 1,854 shares in the last quarter. Finally, HNP Capital LLC acquired a new position in Equinix during the second quarter worth about $4,105,000. 94.12% of the stock is owned by hedge funds and other institutional investors.

In other news, CFO Keith D. Taylor sold 82 shares of the stock in a transaction on Wednesday, September 2nd. The stock was sold at an average price of $786.44, for a total transaction of $64,488.08. Following the completion of the transaction, the chief financial officer now owns 30,749 shares in the company, valued at approximately $24,182,243.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Sara Baack sold 250 shares of the stock in a transaction on 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 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. Insiders have sold a total of 6,807 shares of company stock valued at $5,333,657 in the last quarter. 0.51% of the stock is owned by corporate insiders.

NASDAQ:EQIX traded down $6.31 during trading on Monday, reaching $770.72. The company’s stock had a trading volume of 2,159 shares, compared to its average volume of 489,314. The firm has a market cap 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 company has a debt-to-equity ratio of 1.12, a quick ratio of 1.55 and a current ratio of 1.55. The firm has a 50 day moving average of $775.94 and a 200-day moving average of $728.46. Equinix Inc has a 12 month low of $477.87 and a 12 month high of $839.77.

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

Several research firms have recently weighed in on EQIX. Wells Fargo & Company boosted their price target on Equinix from $790.00 to $840.00 and gave the stock an “overweight” rating in a report on Thursday, July 30th. Deutsche Bank Aktiengesellschaft upped their target price on Equinix from $760.00 to $850.00 and gave the stock a “buy” rating in a research report on Wednesday, August 5th. SunTrust Banks upped their target price on Equinix from $750.00 to $820.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. Edward Jones started coverage on Equinix in a research report on Tuesday, July 14th. They set a “buy” rating on the stock. Finally, Morgan Stanley upped their target price on Equinix from $670.00 to $712.00 and gave the stock an “equal weight” rating in a research report on Tuesday, September 29th. Four analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. Equinix currently has an average rating of “Buy” and a consensus price target of $791.40.

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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