Bamco Inc. NY cut its stake in shares of Equinix (NASDAQ:EQIX) by 2.1% in the first quarter, HoldingsChannel.com reports. The firm owned 290,274 shares of the financial services provider’s stock after selling 6,202 shares during the quarter. Bamco Inc. NY’s holdings in Equinix were worth $121,375,000 at the end of the most recent quarter.
Several other institutional investors also recently made changes to their positions in EQIX. Centersquare Investment Management LLC acquired a new position in Equinix in the first quarter valued at about $277,973,000. Arrowstreet Capital Limited Partnership acquired a new position in Equinix in the fourth quarter valued at about $72,744,000. Criterion Capital Management LLC acquired a new position in Equinix in the first quarter valued at about $66,403,000. Standard Life Aberdeen plc grew its stake in Equinix by 59.1% in the fourth quarter. Standard Life Aberdeen plc now owns 423,174 shares of the financial services provider’s stock valued at $191,871,000 after acquiring an additional 157,236 shares during the period. Finally, Allianz Asset Management GmbH grew its stake in Equinix by 365.1% in the fourth quarter. Allianz Asset Management GmbH now owns 136,412 shares of the financial services provider’s stock valued at $61,825,000 after acquiring an additional 107,082 shares during the period. 97.74% of the stock is owned by institutional investors and hedge funds.
In related news, CFO Keith D. Taylor sold 3,744 shares of the company’s stock in a transaction dated Thursday, March 1st. The stock was sold at an average price of $392.82, for a total transaction of $1,470,718.08. Following the sale, the chief financial officer now owns 33,185 shares in the company, valued at $13,035,731.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Charles J. Meyers sold 400 shares of the company’s stock in a transaction dated Tuesday, May 15th. The stock was sold at an average price of $394.47, for a total value of $157,788.00. Following the sale, the insider now owns 4,516 shares in the company, valued at approximately $1,781,426.52. The disclosure for this sale can be found here. Insiders have sold 23,214 shares of company stock worth $9,298,696 in the last quarter. 0.51% of the stock is currently owned by corporate insiders.
A number of research firms have issued reports on EQIX. Zacks Investment Research raised Equinix from a “sell” rating to a “hold” rating in a research note on Tuesday, May 8th. ValuEngine cut Equinix from a “hold” rating to a “sell” rating in a research note on Thursday, May 3rd. Credit Suisse Group set a $525.00 target price on Equinix and gave the company a “buy” rating in a research note on Thursday, May 3rd. Deutsche Bank boosted their target price on Equinix from $545.00 to $550.00 and gave the company a “buy” rating in a research note on Tuesday, April 17th. Finally, Moffett Nathanson began coverage on Equinix in a research note on Monday, April 9th. They issued a “buy” rating and a $515.00 target price for the company. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and nineteen have assigned a buy rating to the stock. Equinix presently has an average rating of “Buy” and a consensus target price of $502.95.
Equinix opened at $381.93 on Friday, Marketbeat reports. The company has a quick ratio of 2.36, a current ratio of 2.36 and a debt-to-equity ratio of 1.53. The stock has a market cap of $30.86 billion, a PE ratio of 20.61, a PEG ratio of 1.10 and a beta of 0.51. Equinix has a fifty-two week low of $386.59 and a fifty-two week high of $388.90.
Equinix (NASDAQ:EQIX) last posted its quarterly earnings data on Wednesday, May 2nd. The financial services provider reported $0.79 earnings per share for the quarter, missing the consensus estimate of $3.70 by ($2.91). The firm had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.21 billion. Equinix had a return on equity of 7.00% and a net margin of 5.48%. The firm’s quarterly revenue was up 28.1% on a year-over-year basis. During the same period in the prior year, the company earned $4.14 earnings per share. equities research analysts anticipate that Equinix will post 18.88 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 20th. Stockholders of record on Wednesday, May 23rd will be given a dividend of $2.28 per share. The ex-dividend date of this dividend is Tuesday, May 22nd. This represents a $9.12 annualized dividend and a dividend yield of 2.39%. Equinix’s dividend payout ratio is currently 49.22%.
Equinix, Inc (Nasdaq: EQIX) connects the world's leading businesses to their customers, employees and partners inside the most-interconnected data centers. In 48 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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