Traders sold shares of Equinix, Inc. (NASDAQ:EQIX) on strength during trading hours on Tuesday. $71.40 million flowed into the stock on the tick-up and $175.68 million flowed out of the stock on the tick-down, for a money net flow of $104.28 million out of the stock. Of all stocks tracked, Equinix had the 9th highest net out-flow for the day. Equinix traded up $2.89 for the day and closed at $453.04
EQIX has been the topic of a number of research reports. Cowen and Company reaffirmed a “buy” rating on shares of Equinix in a research note on Friday, July 21st. Nomura began coverage on shares of Equinix in a research note on Thursday, May 25th. They issued a “buy” rating and a $490.00 target price on the stock. Credit Suisse Group began coverage on shares of Equinix in a research note on Friday, June 30th. They issued an “outperform” rating and a $510.00 target price on the stock. BidaskClub lowered shares of Equinix from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 30th. Finally, Jefferies Group LLC reissued a “hold” rating and issued a $410.00 target price on shares of Equinix in a research note on Tuesday, July 4th. Five analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $464.78.
The stock has a market cap of $35.31 billion, a PE ratio of 166.38 and a beta of 0.56. The company’s 50 day moving average is $456.08 and its 200-day moving average is $427.32.
Equinix (NASDAQ:EQIX) last announced its quarterly earnings data on Wednesday, August 2nd. The financial services provider reported $4.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.41 by $1.18. The business had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.03 billion. Equinix had a net margin of 5.18% and a return on equity of 5.51%. On average, equities research analysts forecast that Equinix, Inc. will post $3.85 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 20th. Investors of record on Wednesday, August 23rd will be paid a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a dividend yield of 1.77%. The ex-dividend date is Monday, August 21st. Equinix’s payout ratio is 293.04%.
In other Equinix news, Director Camp Peter Van sold 4,444 shares of the stock in a transaction that occurred on 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 transaction, the director now owns 8,572 shares of the company’s stock, valued at $3,821,483.32. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Keith D. Taylor sold 1,000 shares of the stock in a transaction that occurred on Tuesday, July 18th. The stock was 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 in the company, valued at approximately $14,390,215.52. The disclosure for this sale can be found here. Insiders have sold 11,711 shares of company stock worth $5,244,405 in the last three months. Insiders own 0.58% of the company’s stock.
Large investors have recently bought and sold shares of the business. Tudor Investment Corp ET AL purchased a new position in Equinix during the first quarter worth approximately $3,723,000. Prudential Financial Inc. raised its stake in Equinix by 1.1% during the second quarter. Prudential Financial Inc. now owns 110,757 shares of the financial services provider’s stock worth $47,532,000 after purchasing an additional 1,185 shares during the period. Alliancebernstein L.P. raised its stake in Equinix by 4.3% during the first quarter. Alliancebernstein L.P. now owns 188,721 shares of the financial services provider’s stock worth $75,558,000 after purchasing an additional 7,859 shares during the period. Two Sigma Securities LLC purchased a new position in Equinix during the first quarter worth approximately $351,000. Finally, Spirit of America Management Corp NY raised its stake in Equinix by 140.0% during the second quarter. Spirit of America Management Corp NY now owns 2,400 shares of the financial services provider’s stock worth $1,030,000 after purchasing an additional 1,400 shares during the period. 94.36% of the stock is currently owned by institutional investors.
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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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