Biltmore Wealth Management LLC lowered its position in Equinix Inc (NASDAQ:EQIX) by 8.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 816 shares of the financial services provider’s stock after selling 71 shares during the quarter. Equinix comprises about 0.3% of Biltmore Wealth Management LLC’s portfolio, making the stock its 19th largest position. Biltmore Wealth Management LLC’s holdings in Equinix were worth $573,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently made changes to their positions in EQIX. Creative Financial Designs Inc. ADV purchased a new stake in shares of Equinix in the third quarter valued at $26,000. Balentine LLC bought a new position in shares of Equinix in the second quarter worth about $43,000. Nachman Norwood & Parrott Inc bought a new position in shares of Equinix in the third quarter worth about $46,000. Parkside Financial Bank & Trust grew its holdings in shares of Equinix by 24.1% in the second quarter. Parkside Financial Bank & Trust now owns 67 shares of the financial services provider’s stock worth $47,000 after purchasing an additional 13 shares during the last quarter. Finally, Financial Management Professionals Inc. bought a new position in shares of Equinix in the second quarter worth about $60,000. 94.12% of the stock is currently owned by institutional investors and hedge funds.
Shares of Equinix stock opened at $817.69 on Friday. The firm has a market capitalization of $72.41 billion, a P/E ratio of 141.71, a PEG ratio of 2.83 and a beta of 0.43. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 1.12. The company has a 50 day moving average price of $773.57 and a 200 day moving average price of $721.89. Equinix Inc has a 52 week low of $477.87 and a 52 week high of $839.77.
Equinix (NASDAQ:EQIX) last posted its quarterly earnings results on Wednesday, July 29th. The financial services provider reported $1.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.40 by ($3.88). Equinix had a return on equity of 5.43% and a net margin of 8.69%. The business had revenue of $1.47 billion for the quarter, compared to analysts’ expectations of $1.46 billion. During the same period in the prior year, the business posted $1.69 earnings per share. The business’s quarterly revenue was up 6.1% compared to the same quarter last year. As a group, research analysts anticipate that Equinix Inc will post 21.72 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 23rd. Shareholders of record on Wednesday, August 19th were given a dividend of $2.66 per share. This represents a $10.64 dividend on an annualized basis and a yield of 1.30%. The ex-dividend date of this dividend was Tuesday, August 18th. Equinix’s dividend payout ratio is presently 46.65%.
EQIX has been the topic of a number of research analyst reports. JPMorgan Chase & Co. upped their price target on shares of Equinix from $725.00 to $861.00 and gave the stock an “overweight” rating in a report on Thursday, July 30th. Jefferies Financial Group reiterated a “buy” rating and set a $824.00 target price on shares of Equinix in a report on Tuesday, August 11th. Barclays increased their target price on shares of Equinix from $821.00 to $876.00 and gave the stock an “overweight” rating in a report on Thursday, July 30th. Oppenheimer increased their target price on shares of Equinix from $730.00 to $820.00 and gave the stock an “outperform” rating in a report on Thursday, July 30th. Finally, Edward Jones started coverage on shares of Equinix in a report on Tuesday, July 14th. They issued a “buy” rating on the stock. Three equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $791.40.
In other Equinix news, insider Sara Baack sold 250 shares of the firm’s stock in a transaction that occurred on Thursday, October 1st. The shares were sold at an average price of $764.24, for a total transaction of $191,060.00. Following the completion of the transaction, the insider now directly owns 10,194 shares of the company’s stock, valued at approximately $7,790,662.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Keith D. Taylor sold 82 shares of Equinix stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $786.44, for a total transaction of $64,488.08. Following the transaction, the chief financial officer now directly owns 30,749 shares of the company’s stock, valued at $24,182,243.56. The disclosure for this sale can be found here. Insiders have sold a total of 6,807 shares of company stock valued at $5,333,657 over the last three months. 0.51% of the stock is currently owned by insiders.
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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