Wells Fargo & Company MN decreased its stake in Equinix, Inc. (NASDAQ:EQIX) by 6.7% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 366,077 shares of the financial services provider’s stock after selling 26,424 shares during the quarter. Wells Fargo & Company MN’s holdings in Equinix were worth $165,913,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently modified their holdings of the company. Whittier Trust Co. raised its holdings in Equinix by 191.5% in the 4th quarter. Whittier Trust Co. now owns 239 shares of the financial services provider’s stock worth $108,000 after purchasing an additional 157 shares during the period. Zions Bancorporation raised its holdings in Equinix by 2,550.0% in the 3rd quarter. Zions Bancorporation now owns 265 shares of the financial services provider’s stock worth $118,000 after purchasing an additional 255 shares during the period. SeaCrest Wealth Management LLC acquired a new position in Equinix in the 4th quarter worth about $121,000. Amica Retiree Medical Trust acquired a new position in Equinix in the 3rd quarter worth about $188,000. Finally, Commerce Bank acquired a new position in Equinix in the 3rd quarter worth about $203,000. Hedge funds and other institutional investors own 94.81% of the company’s stock.
In related news, CEO Stephen M. Smith sold 10,706 shares of the stock in a transaction that occurred on Wednesday, January 17th. The stock was sold at an average price of $443.10, for a total value of $4,743,828.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Keith D. Taylor sold 2,000 shares of the stock in a transaction that occurred on Monday, November 27th. The shares were sold at an average price of $476.81, for a total value of $953,620.00. Following the completion of the sale, the chief financial officer now directly owns 27,996 shares of the company’s stock, valued at approximately $13,348,772.76. The disclosure for this sale can be found here. In the last ninety days, insiders sold 24,513 shares of company stock valued at $10,961,480. Insiders own 0.58% of the company’s stock.
Equinix (NASDAQ:EQIX) last posted its quarterly earnings results on Wednesday, February 14th. The financial services provider reported $0.82 EPS for the quarter, missing the consensus estimate of $3.87 by ($3.05). Equinix had a net margin of 5.33% and a return on equity of 6.54%. The company had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.19 billion. During the same period in the prior year, the business posted $4.08 EPS. Equinix’s revenue for the quarter was up 27.3% compared to the same quarter last year. research analysts forecast that Equinix, Inc. will post 18.71 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 21st. Investors of record on Monday, February 26th will be issued a $2.28 dividend. This represents a $9.12 annualized dividend and a dividend yield of 2.26%. The ex-dividend date is Friday, February 23rd. This is a boost from Equinix’s previous quarterly dividend of $2.00. Equinix’s dividend payout ratio (DPR) is currently 267.56%.
A number of equities analysts recently weighed in on the company. Barclays reaffirmed a “buy” rating and issued a $500.00 price target on shares of Equinix in a report on Friday. Guggenheim set a $515.00 price target on Equinix and gave the stock a “buy” rating in a report on Thursday. Wells Fargo & Co reduced their price target on Equinix from $510.00 to $485.00 and set an “outperform” rating for the company in a report on Thursday. Credit Suisse Group reduced their price target on Equinix from $524.00 to $519.00 and set an “outperform” rating for the company in a report on Thursday. Finally, Oppenheimer increased their target price on Equinix from $472.00 to $500.00 and gave the company an “outperform” rating in a report on Thursday, November 2nd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-one have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $502.96.
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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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