FormulaFolio Investments LLC acquired a new stake in Equinix Inc (NASDAQ:EQIX) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 294 shares of the financial services provider’s stock, valued at approximately $207,000.
A number of other institutional investors and hedge funds have also modified their holdings of EQIX. D.A. Davidson & CO. boosted its stake in shares of Equinix by 8.7% in the 1st quarter. D.A. Davidson & CO. now owns 424 shares of the financial services provider’s stock valued at $270,000 after purchasing an additional 34 shares during the last quarter. Chicago Equity Partners LLC purchased a new stake in Equinix in the 1st quarter worth approximately $250,000. AE Wealth Management LLC grew its stake in shares of Equinix by 59.8% during the 1st quarter. AE Wealth Management LLC now owns 1,802 shares of the financial services provider’s stock worth $1,125,000 after purchasing an additional 674 shares during the period. Oppenheimer Asset Management Inc. increased its holdings in shares of Equinix by 20.4% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 9,357 shares of the financial services provider’s stock valued at $5,844,000 after purchasing an additional 1,585 shares in the last quarter. Finally, Oppenheimer & Co. Inc. increased its holdings in shares of Equinix by 40.4% during the 1st quarter. Oppenheimer & Co. Inc. now owns 771 shares of the financial services provider’s stock valued at $482,000 after purchasing an additional 222 shares in the last quarter. 94.12% of the stock is currently owned by institutional investors.
EQIX stock traded up $10.92 on Wednesday, reaching $779.37. The company had a trading volume of 5,672 shares, compared to its average volume of 511,088. The company’s fifty day moving average is $773.04 and its 200 day moving average is $691.23. The company has a market cap of $68.05 billion, a P/E ratio of 135.09, a PEG ratio of 2.53 and a beta of 0.41. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.55 and a current ratio of 1.55. Equinix Inc has a 1 year low of $477.87 and a 1 year high of $805.81.
Equinix (NASDAQ:EQIX) last issued its quarterly earnings data on Wednesday, July 29th. The financial services provider reported $1.52 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $5.40 by ($3.88). The company had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $1.46 billion. Equinix had a net margin of 8.69% and a return on equity of 5.43%. The firm’s revenue was up 6.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.69 earnings per share. On average, sell-side analysts predict that Equinix Inc will post 21.72 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 23rd. Shareholders of record on Wednesday, August 19th will be issued a $2.66 dividend. The ex-dividend date of this dividend is Tuesday, August 18th. This represents a $10.64 dividend on an annualized basis and a yield of 1.37%. Equinix’s dividend payout ratio (DPR) is 46.65%.
In other Equinix news, Director Nanci Caldwell sold 683 shares of the stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $788.55, for a total transaction of $538,579.65. Following the transaction, the director now owns 902 shares of the company’s stock, valued at approximately $711,272.10. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Adaire Fox-Martin sold 58 shares of the firm’s stock in a transaction on Friday, June 19th. The stock was sold at an average price of $713.42, for a total value of $41,378.36. Following the sale, the director now owns 193 shares in the company, valued at approximately $137,690.06. The disclosure for this sale can be found here. Insiders have sold a total of 6,615 shares of company stock worth $5,183,975 over the last ninety days. 0.51% of the stock is owned by corporate insiders.
A number of research analysts have weighed in on the stock. SunTrust Banks lifted their price objective on shares of Equinix from $750.00 to $820.00 and gave the company a “buy” rating in a report on Thursday, July 30th. TD Securities assumed coverage on Equinix in a research note on Thursday, August 6th. They issued a “hold” rating and a $800.00 price target for the company. Oppenheimer increased their price target on Equinix from $730.00 to $820.00 and gave the stock an “outperform” rating in a research report on Thursday, July 30th. Credit Suisse Group raised their price objective on Equinix from $704.00 to $782.00 and gave the company an “outperform” rating in a report on Thursday, July 30th. Finally, Edward Jones began coverage on Equinix in a research note on Tuesday, July 14th. They set a “buy” rating for the company. Three research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $789.30.
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.
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).
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.