Manning & Napier Advisors LLC reduced its stake in Equinix, Inc. (NASDAQ:EQIX) by 2.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 48,315 shares of the financial services provider’s stock after selling 1,035 shares during the period. Manning & Napier Advisors LLC’s holdings in Equinix were worth $20,734,000 at the end of the most recent reporting period.
Several other institutional investors have also bought and sold shares of EQIX. Proficio Capital Partners LLC increased its position in Equinix by 1,033.3% in the first quarter. Proficio Capital Partners LLC now owns 238 shares of the financial services provider’s stock valued at $105,000 after buying an additional 217 shares during the period. Point72 Asia Hong Kong Ltd increased its position in Equinix by 47.4% in the first quarter. Point72 Asia Hong Kong Ltd now owns 252 shares of the financial services provider’s stock valued at $101,000 after buying an additional 81 shares during the period. Advisory Services Network LLC acquired a new position in Equinix during the first quarter valued at approximately $112,000. Guardian Life Insurance Co. of America boosted its stake in Equinix by 9.9% in the first quarter. Guardian Life Insurance Co. of America now owns 300 shares of the financial services provider’s stock valued at $120,000 after buying an additional 27 shares during the period. Finally, Westside Investment Management Inc. boosted its stake in Equinix by 31.9% in the first quarter. Westside Investment Management Inc. now owns 413 shares of the financial services provider’s stock valued at $165,000 after buying an additional 100 shares during the period. Institutional investors and hedge funds own 95.31% of the company’s stock.
Equinix, Inc. (NASDAQ:EQIX) opened at 447.81 on Thursday. The stock has a market cap of $34.89 billion, a P/E ratio of 164.45 and a beta of 0.59. Equinix, Inc. has a 52 week low of $314.55 and a 52 week high of $459.00. The company’s 50 day moving average is $437.60 and its 200 day moving average is $411.92.
Equinix (NASDAQ:EQIX) last issued its quarterly earnings results on Wednesday, August 2nd. The financial services provider reported $0.58 EPS for the quarter, missing the Zacks’ consensus estimate of $3.41 by $2.83. Equinix had a return on equity of 5.51% and a net margin of 5.18%. The company had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.03 billion. Equities analysts predict that Equinix, Inc. will post $4.03 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 20th. Investors of record on Wednesday, August 23rd will be given a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a dividend yield of 1.79%. The ex-dividend date is Monday, August 21st. Equinix’s payout ratio is currently 293.04%.
EQIX has been the subject of several recent analyst reports. Oppenheimer Holdings, Inc. reaffirmed an “outperform” rating and set a $472.00 price objective (up from $440.00) on shares of Equinix in a research report on Thursday, May 4th. Citigroup Inc. lifted their price objective on shares of Equinix from $435.00 to $462.00 and gave the stock a “buy” rating in a research report on Tuesday, April 25th. Cowen and Company lifted their price objective on shares of Equinix from $453.00 to $465.00 and gave the stock an “outperform” rating in a research report on Friday, April 28th. Morgan Stanley reissued an “equal weight” rating and issued a $409.00 price target (up from $374.00) on shares of Equinix in a research report on Wednesday, May 17th. Finally, Jefferies Group LLC boosted their price target on shares of Equinix from $378.00 to $410.00 and gave the company a “hold” rating in a research report on Friday, April 28th. Five research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $464.78.
In other Equinix news, Director Camp Peter Van sold 4,444 shares of Equinix stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $445.81, for a total value of $1,981,179.64. Following the transaction, the director now owns 8,572 shares in the company, valued at $3,821,483.32. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Keith D. Taylor sold 1,000 shares of Equinix stock in a transaction dated Tuesday, May 30th. The shares were sold at an average price of $440.99, for a total value of $440,990.00. Following the completion of the transaction, the chief financial officer now owns 36,296 shares in the company, valued at approximately $16,006,173.04. The disclosure for this sale can be found here. Insiders sold 22,143 shares of company stock worth $9,703,456 in the last 90 days. 0.58% of the stock is owned by company insiders.
Equinix Company Profile
Equinix, Inc (Equinix) connects businesses with partners and customers worldwide through a global platform of data centers. The Company connects approximately 4000 customers, across the Americas, Europe, Middle East and Africa (EMEA) and Asia-Pacific. Platform Equinix combines international business exchange (IBX) data centers, a global footprint and ecosystems.
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