Stephens Inc. AR Sells 146 Shares of Equinix Inc (NASDAQ:EQIX)

Stephens Inc. AR cut its stake in Equinix Inc (NASDAQ:EQIX) by 1.0% in the second quarter, Holdings Channel reports. The institutional investor owned 13,790 shares of the financial services provider’s stock after selling 146 shares during the period. Stephens Inc. AR’s holdings in Equinix were worth $6,954,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of EQIX. Carroll Financial Associates Inc. increased its stake in Equinix by 63.6% in the second quarter. Carroll Financial Associates Inc. now owns 54 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 21 shares during the period. Berman Capital Advisors LLC increased its stake in Equinix by 44.9% in the second quarter. Berman Capital Advisors LLC now owns 71 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 22 shares during the period. Eagle Boston Investment Management Inc. increased its stake in Equinix by 1.1% in the first quarter. Eagle Boston Investment Management Inc. now owns 2,075 shares of the financial services provider’s stock worth $940,000 after purchasing an additional 23 shares during the period. Rehmann Capital Advisory Group increased its stake in Equinix by 25.3% in the first quarter. Rehmann Capital Advisory Group now owns 114 shares of the financial services provider’s stock worth $52,000 after purchasing an additional 23 shares during the period. Finally, Thomas J. Herzfeld Advisors Inc. increased its stake in Equinix by 27.9% in the first quarter. Thomas J. Herzfeld Advisors Inc. now owns 110 shares of the financial services provider’s stock worth $50,000 after purchasing an additional 24 shares during the period. Institutional investors own 97.83% of the company’s stock.

In other news, insider Michael Earl Campbell sold 1,250 shares of the firm’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $490.87, for a total transaction of $613,587.50. Following the transaction, the insider now owns 2,578 shares in the company, valued at $1,265,462.86. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Christopher B. Paisley sold 200 shares of the firm’s stock in a transaction on Monday, May 20th. The shares were sold at an average price of $487.88, for a total value of $97,576.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 9,236 shares of company stock worth $4,867,938. Insiders own 0.49% of the company’s stock.

Shares of Equinix stock traded up $6.80 during trading on Thursday, hitting $546.68. 138,295 shares of the stock traded hands, compared to its average volume of 431,719. The stock has a market cap of $44.74 billion, a price-to-earnings ratio of 26.42, a P/E/G ratio of 1.83 and a beta of 0.73. The company has a current ratio of 1.59, a quick ratio of 1.59 and a debt-to-equity ratio of 1.34. Equinix Inc has a 52-week low of $335.29 and a 52-week high of $557.54. The firm’s fifty day moving average is $516.13.

Equinix (NASDAQ:EQIX) last announced its quarterly earnings results on Wednesday, July 31st. The financial services provider reported $1.69 EPS for the quarter, missing the consensus estimate of $5.14 by ($3.45). The firm had revenue of $1.38 billion for the quarter, compared to analysts’ expectations of $1.39 billion. Equinix had a net margin of 9.29% and a return on equity of 6.29%. The business’s quarterly revenue was up 9.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.63 EPS. On average, equities research analysts anticipate that Equinix Inc will post 20.7 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 18th. Stockholders of record on Wednesday, August 21st will be paid a dividend of $2.46 per share. The ex-dividend date is Tuesday, August 20th. This represents a $9.84 annualized dividend and a dividend yield of 1.80%. Equinix’s dividend payout ratio is currently 47.56%.

A number of analysts have weighed in on the company. Zacks Investment Research upgraded Equinix from a “sell” rating to a “hold” rating in a research note on Wednesday, May 8th. Oppenheimer increased their target price on Equinix from $500.00 to $550.00 and gave the stock an “outperform” rating in a research note on Thursday, August 1st. Nomura increased their target price on Equinix from $505.00 to $575.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Mitsubishi UFJ Financial Group increased their target price on Equinix from $460.00 to $484.00 and gave the stock an “overweight” rating in a research note on Thursday, May 2nd. Finally, JPMorgan Chase & Co. increased their target price on Equinix from $524.00 to $580.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $527.21.

Equinix Company Profile

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.

Read More: What is the Gross Domestic Product (GDP)?

Want to see what other hedge funds are holding EQIX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Equinix Inc (NASDAQ:EQIX).

Institutional Ownership by Quarter for Equinix (NASDAQ:EQIX)

Receive News & Ratings for Equinix Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Equinix and related companies with MarketBeat.com's FREE daily email newsletter.