Investors Buy Shares of Equinix, Inc. (EQIX) on Weakness

Traders bought shares of Equinix, Inc. (NASDAQ:EQIX) on weakness during trading on Wednesday. $133.74 million flowed into the stock on the tick-up and $60.43 million flowed out of the stock on the tick-down, for a money net flow of $73.31 million into the stock. Of all equities tracked, Equinix had the 11th highest net in-flow for the day. Equinix traded down ($3.80) for the day and closed at $449.24

A number of equities analysts recently commented on the company. BidaskClub upgraded Equinix from a “buy” rating to a “strong-buy” rating in a report on Thursday, August 24th. Barclays PLC restated an “equal weight” rating and issued a $475.00 price objective (up previously from $410.00) on shares of Equinix in a report on Wednesday, August 9th. Royal Bank Of Canada increased their price objective on Equinix from $470.00 to $505.00 and gave the stock an “outperform” rating in a report on Monday, August 7th. Cowen and Company restated an “outperform” rating and issued a $482.00 price objective (up previously from $465.00) on shares of Equinix in a report on Thursday, August 3rd. Finally, Stifel Nicolaus restated a “buy” rating and issued a $497.00 price objective (up previously from $485.00) on shares of Equinix in a report on Thursday, August 3rd. Five investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $464.78.

Equinix (NASDAQ:EQIX) last posted its earnings results on Wednesday, August 2nd. The financial services provider reported $4.59 earnings per share for the quarter, topping analysts’ consensus estimates of $3.41 by $1.18. The business had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.03 billion. Equinix had a return on equity of 5.51% and a net margin of 5.18%. Equities research analysts predict that Equinix, Inc. will post $3.85 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 20th. Investors of record on Wednesday, August 23rd will be issued a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a dividend yield of 1.78%. The ex-dividend date of this dividend is Monday, August 21st. Equinix’s payout ratio is presently 293.04%.

In related news, Director Camp Peter Van sold 4,444 shares of the business’s stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $445.81, for a total transaction of $1,981,179.64. Following 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 legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Karl Strohmeyer sold 250 shares of the business’s stock in a transaction that occurred on Friday, August 25th. The stock was sold at an average price of $464.96, for a total value of $116,240.00. The disclosure for this sale can be found here. Insiders have sold a total of 11,711 shares of company stock worth $5,244,405 over the last three months. 0.58% of the stock is owned by insiders.

Hedge funds have recently bought and sold shares of the stock. Proficio Capital Partners LLC boosted its stake in Equinix by 1,033.3% in the 1st quarter. Proficio Capital Partners LLC now owns 238 shares of the financial services provider’s stock valued at $105,000 after purchasing an additional 217 shares during the period. Point72 Asia Hong Kong Ltd boosted its stake in Equinix by 47.4% in the 1st quarter. Point72 Asia Hong Kong Ltd now owns 252 shares of the financial services provider’s stock valued at $101,000 after purchasing an additional 81 shares during the period. San Francisco Sentry Investment Group CA bought a new stake in Equinix in the 2nd quarter valued at $127,000. Guardian Life Insurance Co. of America boosted its stake in Equinix by 9.9% in the 1st quarter. Guardian Life Insurance Co. of America now owns 300 shares of the financial services provider’s stock valued at $120,000 after purchasing an additional 27 shares during the period. Finally, Smithfield Trust Co. boosted its stake in Equinix by 19.1% in the 2nd quarter. Smithfield Trust Co. now owns 337 shares of the financial services provider’s stock valued at $145,000 after purchasing an additional 54 shares during the period. 94.36% of the stock is currently owned by institutional investors and hedge funds.

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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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