Jackson Square Partners LLC lowered its position in Equinix, Inc. (NASDAQ:EQIX) by 11.6% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 686,820 shares of the financial services provider’s stock after selling 89,938 shares during the period. Equinix comprises approximately 1.5% of Jackson Square Partners LLC’s holdings, making the stock its 27th largest position. Jackson Square Partners LLC owned 0.88% of Equinix worth $306,527,000 at the end of the most recent quarter.
Other institutional investors have also recently modified their holdings of the company. Janney Montgomery Scott LLC boosted its holdings in shares of Equinix by 4.0% during the 2nd quarter. Janney Montgomery Scott LLC now owns 3,086 shares of the financial services provider’s stock valued at $1,325,000 after purchasing an additional 119 shares during the last quarter. Bessemer Group Inc. boosted its holdings in shares of Equinix by 145.0% during the 2nd quarter. Bessemer Group Inc. now owns 1,247 shares of the financial services provider’s stock valued at $535,000 after purchasing an additional 738 shares during the last quarter. State of New Jersey Common Pension Fund D boosted its holdings in shares of Equinix by 16.4% during the 2nd quarter. State of New Jersey Common Pension Fund D now owns 23,400 shares of the financial services provider’s stock valued at $10,042,000 after purchasing an additional 3,300 shares during the last quarter. Smithfield Trust Co. boosted its holdings in shares of Equinix by 19.1% during the 2nd quarter. Smithfield Trust Co. now owns 337 shares of the financial services provider’s stock valued at $145,000 after purchasing an additional 54 shares during the last quarter. Finally, TD Asset Management Inc. raised its position in shares of Equinix by 2.5% during the 2nd quarter. TD Asset Management Inc. now owns 70,093 shares of the financial services provider’s stock valued at $30,081,000 after buying an additional 1,725 shares in the last quarter. 94.34% of the stock is owned by institutional investors.
A number of analysts recently weighed in on the stock. Citigroup increased their price objective on shares of Equinix from $518.00 to $530.00 and gave the stock a “buy” rating in a research report on Thursday, November 2nd. Deutsche Bank assumed coverage on shares of Equinix in a research note on Tuesday, October 24th. They issued a “buy” rating and a $550.00 target price on the stock. Berenberg Bank assumed coverage on shares of Equinix in a research note on Tuesday, September 26th. They set a “buy” rating and a $550.00 price objective on the stock. Nomura increased their price objective on shares of Equinix from $490.00 to $510.00 and gave the company a “buy” rating in a research note on Thursday, November 2nd. Finally, Zacks Investment Research upgraded shares of Equinix from a “hold” rating to a “buy” rating and set a $547.00 target price for the company in a research note on Monday, November 6th. Three analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $500.74.
Equinix, Inc. (NASDAQ EQIX) opened at $450.24 on Thursday. The company has a market cap of $34,860.15, a price-to-earnings ratio of 25.06, a price-to-earnings-growth ratio of 1.79 and a beta of 0.46. The company has a debt-to-equity ratio of 1.51, a quick ratio of 2.11 and a current ratio of 2.11. Equinix, Inc. has a 12-month low of $327.37 and a 12-month high of $495.35.
Equinix (NASDAQ:EQIX) last announced its quarterly earnings results on Wednesday, November 1st. The financial services provider reported $3.63 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.39 by $2.24. The business had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.14 billion. Equinix had a net margin of 5.58% and a return on equity of 5.59%. The business’s revenue was up 24.6% compared to the same quarter last year. During the same quarter last year, the firm posted $3.95 EPS. sell-side analysts expect that Equinix, Inc. will post 16.05 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 13th. Shareholders of record on Wednesday, November 15th will be paid a dividend of $2.00 per share. The ex-dividend date of this dividend is Tuesday, November 14th. This represents a $8.00 annualized dividend and a dividend yield of 1.78%. Equinix’s dividend payout ratio is currently 264.03%.
In related news, insider Michael Earl Campbell sold 200 shares of the firm’s stock in a transaction that occurred on Monday, October 16th. The shares were sold at an average price of $463.61, for a total value of $92,722.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Christopher B. Paisley sold 593 shares of Equinix stock in a transaction that occurred on Monday, November 6th. The shares were sold at an average price of $484.99, for a total transaction of $287,599.07. The disclosure for this sale can be found here. Insiders have sold a total of 5,993 shares of company stock worth $2,770,635 over the last ninety days. 0.58% of the stock is owned by corporate insiders.
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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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