Gateway Investment Advisers LLC cut its position in shares of Equinix Inc (NASDAQ:EQIX) by 3.3% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,583 shares of the financial services provider’s stock after selling 123 shares during the quarter. Gateway Investment Advisers LLC’s holdings in Equinix were worth $1,624,000 as of its most recent SEC filing.
Other large investors have also recently bought and sold shares of the company. Taylor Frigon Capital Management LLC grew its stake in Equinix by 1.2% in the fourth quarter. Taylor Frigon Capital Management LLC now owns 2,328 shares of the financial services provider’s stock valued at $821,000 after purchasing an additional 27 shares in the last quarter. Eaton Vance Management grew its stake in Equinix by 2.2% in the fourth quarter. Eaton Vance Management now owns 1,356 shares of the financial services provider’s stock valued at $478,000 after purchasing an additional 29 shares in the last quarter. AdvisorNet Financial Inc grew its stake in Equinix by 19.1% in the fourth quarter. AdvisorNet Financial Inc now owns 212 shares of the financial services provider’s stock valued at $75,000 after purchasing an additional 34 shares in the last quarter. Creative Planning grew its stake in Equinix by 4.3% in the fourth quarter. Creative Planning now owns 988 shares of the financial services provider’s stock valued at $348,000 after purchasing an additional 41 shares in the last quarter. Finally, IFP Advisors Inc grew its stake in Equinix by 10.4% in the fourth quarter. IFP Advisors Inc now owns 447 shares of the financial services provider’s stock valued at $158,000 after purchasing an additional 42 shares in the last quarter. Institutional investors and hedge funds own 98.92% of the company’s stock.
A number of research analysts have weighed in on EQIX shares. Nomura raised their price target on Equinix from $480.00 to $500.00 and gave the company a “buy” rating in a research note on Friday, March 29th. Berenberg Bank initiated coverage on Equinix in a research report on Tuesday, January 8th. They issued a “buy” rating and a $477.00 price objective for the company. Zacks Investment Research cut Equinix from a “hold” rating to a “sell” rating in a research report on Monday, February 11th. BidaskClub raised Equinix from a “hold” rating to a “buy” rating in a research report on Saturday, March 9th. Finally, Credit Suisse Group raised their price objective on Equinix from $467.00 to $474.00 and gave the company an “outperform” rating in a research report on Thursday, February 14th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $495.29.
EQIX opened at $460.00 on Tuesday. Equinix Inc has a 12-month low of $335.29 and a 12-month high of $467.99. The company has a market capitalization of $37.47 billion, a PE ratio of 22.23, a price-to-earnings-growth ratio of 1.64 and a beta of 0.91. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 1.51.
Equinix (NASDAQ:EQIX) last released its quarterly earnings data on Wednesday, February 13th. The financial services provider reported $1.36 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $4.46 by ($3.10). Equinix had a net margin of 7.20% and a return on equity of 6.88%. The business had revenue of $1.31 billion during the quarter, compared to analyst estimates of $1.31 billion. During the same period in the previous year, the business earned $0.82 earnings per share. The business’s quarterly revenue was up 9.2% on a year-over-year basis. As a group, equities research analysts anticipate that Equinix Inc will post 20.89 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, March 20th. Investors of record on Wednesday, February 27th were issued a dividend of $2.46 per share. This is a boost from Equinix’s previous quarterly dividend of $2.28. This represents a $9.84 annualized dividend and a yield of 2.14%. The ex-dividend date was Tuesday, February 26th. Equinix’s dividend payout ratio (DPR) is presently 47.56%.
In related news, insider Simon Miller sold 378 shares of Equinix stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $426.92, for a total transaction of $161,375.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Charles J. Meyers sold 5,648 shares of Equinix stock in a transaction that occurred on Wednesday, January 16th. The stock was sold at an average price of $380.97, for a total value of $2,151,718.56. Following the sale, the chief executive officer now directly owns 5,750 shares of the company’s stock, valued at $2,190,577.50. The disclosure for this sale can be found here. Over the last three months, insiders have sold 28,263 shares of company stock valued at $11,593,833. 0.51% of the stock is currently owned by insiders.
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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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