Smith Asset Management Group LP cut its position in Equinix, Inc. (NASDAQ:EQIX) by 17.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 13,830 shares of the financial services provider’s stock after selling 2,870 shares during the period. Smith Asset Management Group LP’s holdings in Equinix were worth $5,935,000 as of its most recent SEC filing.
A number of other institutional investors have also modified their holdings of EQIX. Teacher Retirement System of Texas increased 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 acquired a new position in shares of Equinix during the second quarter worth approximately $34,772,000. First Trust Advisors LP increased 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 last quarter. Arizona State Retirement System increased 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 last quarter. Finally, Forward Management LLC acquired a new position in shares of Equinix during the second quarter worth about $644,000. 95.31% of the stock is owned by institutional investors.
Shares of Equinix, Inc. (NASDAQ EQIX) opened at 438.39 on Friday. Equinix, Inc. has a one year low of $314.55 and a one year high of $459.00.
Equinix (NASDAQ:EQIX) last issued its quarterly earnings data on Wednesday, August 2nd. The financial services provider reported $4.59 earnings per share (EPS) for the quarter, topping 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 company had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.03 billion. Equities research analysts anticipate that Equinix, Inc. will post $3.94 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 20th. Shareholders of record on Wednesday, August 23rd will be given a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a yield of 1.82%. The ex-dividend date of this dividend is Monday, August 21st. Equinix’s payout ratio is currently 293.04%.
A number of equities analysts have recently issued reports on the company. Barclays PLC reaffirmed an “equal weight” rating and set a $475.00 price target (up from $410.00) on shares of Equinix in a research report on Wednesday. BidaskClub downgraded Equinix from a “strong-buy” rating to a “buy” rating in a research report on Tuesday. Royal Bank Of Canada upped their price target on Equinix from $470.00 to $505.00 and gave the stock an “outperform” rating in a research report on Monday, August 7th. Cowen and Company reaffirmed an “outperform” rating and set a $482.00 price target (up from $465.00) on shares of Equinix in a research report on Thursday, August 3rd. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $497.00 price target (up from $485.00) on shares of Equinix in a research report on Thursday, August 3rd. Five research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $464.78.
In other Equinix news, CFO Keith D. Taylor sold 1,000 shares of the firm’s stock in a transaction on Tuesday, May 30th. The shares were sold at an average price of $440.99, for a total transaction of $440,990.00. Following the transaction, the chief financial officer now directly owns 36,296 shares of the company’s stock, valued at approximately $16,006,173.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Stephen M. Smith sold 5,348 shares of the firm’s stock in a transaction on Thursday, June 15th. The stock was sold at an average price of $432.60, for a total transaction of $2,313,544.80. Following the transaction, the chief executive officer now directly owns 18,967 shares in the company, valued at $8,205,124.20. The disclosure for this sale can be found here. Insiders have sold a total of 22,143 shares of company stock worth $9,703,456 over the last three months. 0.58% of the stock is currently owned by 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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