First Mercantile Trust Co. Sells 1,205 Shares of Equinix, Inc. (EQIX)

First Mercantile Trust Co. lowered its stake in shares of Equinix, Inc. (NASDAQ:EQIX) by 30.8% during the second quarter, according to its most recent filing with the SEC. The fund owned 2,701 shares of the financial services provider’s stock after selling 1,205 shares during the period. First Mercantile Trust Co.’s holdings in Equinix were worth $1,159,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Teacher Retirement System of Texas raised its position in shares of Equinix by 8.0% in the second quarter. Teacher Retirement System of Texas now owns 806 shares of the financial services provider’s stock worth $346,000 after buying an additional 60 shares during the period. DekaBank Deutsche Girozentrale purchased a new position in shares of Equinix during the second quarter worth about $34,772,000. First Trust Advisors LP raised its position in shares of Equinix by 14.9% in the second quarter. First Trust Advisors LP now owns 118,542 shares of the financial services provider’s stock worth $50,873,000 after buying an additional 15,330 shares during the period. Arizona State Retirement System raised its position in shares of Equinix by 19.5% in the second quarter. Arizona State Retirement System now owns 22,139 shares of the financial services provider’s stock worth $9,501,000 after buying an additional 3,617 shares during the period. Finally, Forward Management LLC purchased a new position in shares of Equinix during the second quarter worth about $644,000. 95.31% of the stock is currently owned by institutional investors and hedge funds.

Equinix, Inc. (NASDAQ EQIX) opened at 438.39 on Friday. Equinix, Inc. has a 1-year low of $314.55 and a 1-year high of $459.00.

Equinix (NASDAQ:EQIX) last posted its quarterly earnings results on Wednesday, August 2nd. The financial services provider reported $4.59 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $3.41 by $1.18. Equinix had a net margin of 5.18% and a return on equity of 5.51%. The business had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.03 billion. Equities analysts forecast that Equinix, Inc. will post $3.94 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 20th. Shareholders of record on Wednesday, August 23rd will be paid a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a yield of 1.82%. The ex-dividend date is Monday, August 21st. Equinix’s payout ratio is 293.04%.

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A number of brokerages recently issued reports on EQIX. Barclays PLC restated an “equal weight” rating and issued a $475.00 target price (up previously from $410.00) on shares of Equinix in a research note on Thursday, August 3rd. Stifel Nicolaus reiterated a “buy” rating and set a $497.00 price objective (up previously from $485.00) on shares of Equinix in a research note on Thursday, August 3rd. Cowen and Company reiterated an “outperform” rating and set a $482.00 price objective (up previously from $465.00) on shares of Equinix in a research note on Thursday, August 3rd. Royal Bank Of Canada lifted their price objective on Equinix from $470.00 to $505.00 and gave the company an “outperform” rating in a research note on Monday, August 7th. Finally, Instinet restated a “buy” rating and issued a $490.00 price target on shares of Equinix in a research note on Thursday, May 25th. Five investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $464.78.

In other Equinix news, Director Camp Peter Van sold 4,444 shares of the business’s stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $445.81, for a total transaction of $1,981,179.64. Following the completion of the transaction, the director now directly owns 8,572 shares of the company’s stock, valued at approximately $3,821,483.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Keith D. Taylor sold 1,000 shares of the business’s stock in a transaction dated Tuesday, July 18th. The shares were sold at an average price of $436.12, for a total transaction of $436,120.00. Following the transaction, the chief financial officer now directly owns 32,996 shares of the company’s stock, valued at $14,390,215.52. The disclosure for this sale can be found here. Insiders have sold a total of 22,143 shares of company stock valued at $9,703,456 over the last three months. 0.58% of the stock is currently owned by company insiders.

About Equinix

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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Institutional Ownership by Quarter for Equinix (NASDAQ:EQIX)

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