Equinix Inc (EQIX) Shares Bought by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA grew its holdings in shares of Equinix Inc (NASDAQ:EQIX) by 28.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 123,864 shares of the financial services provider’s stock after acquiring an additional 27,224 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Equinix were worth $53,619,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Schwab Charles Investment Management Inc. increased its stake in shares of Equinix by 4.8% in the second quarter. Schwab Charles Investment Management Inc. now owns 290,350 shares of the financial services provider’s stock valued at $124,819,000 after buying an additional 13,357 shares during the period. Barton Investment Management increased its stake in shares of Equinix by 1.6% in the second quarter. Barton Investment Management now owns 43,660 shares of the financial services provider’s stock valued at $18,768,000 after buying an additional 681 shares during the period. Wells Fargo & Company MN increased its stake in shares of Equinix by 3.6% in the second quarter. Wells Fargo & Company MN now owns 426,347 shares of the financial services provider’s stock valued at $183,283,000 after buying an additional 14,746 shares during the period. Comerica Bank increased its stake in shares of Equinix by 2.1% in the second quarter. Comerica Bank now owns 41,070 shares of the financial services provider’s stock valued at $18,008,000 after buying an additional 842 shares during the period. Finally, IFM Investors Pty Ltd increased its stake in shares of Equinix by 46.1% in the second quarter. IFM Investors Pty Ltd now owns 3,556 shares of the financial services provider’s stock valued at $1,529,000 after buying an additional 1,122 shares during the period. 99.67% of the stock is owned by hedge funds and other institutional investors.

A number of analysts have weighed in on the stock. BidaskClub raised shares of Equinix from a “sell” rating to a “hold” rating in a research report on Saturday, September 15th. Citigroup increased their target price on Equinix from $494.00 to $506.00 and gave the stock a “buy” rating in a report on Thursday, August 9th. Credit Suisse Group set a $520.00 target price on Equinix and gave the stock a “buy” rating in a report on Thursday, August 9th. BMO Capital Markets dropped their price objective on Equinix from $526.00 to $521.00 and set a “buy” rating on the stock in a research note on Thursday, August 9th. Finally, Mitsubishi UFJ Financial Group raised their price objective on Equinix to $483.00 and gave the company an “overweight” rating in a research note on Friday, August 17th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and seventeen have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $503.84.

Shares of Equinix stock opened at $392.43 on Friday. Equinix Inc has a 1 year low of $370.79 and a 1 year high of $495.35. The firm has a market cap of $30.11 billion, a PE ratio of 18.59, a price-to-earnings-growth ratio of 1.25 and a beta of 0.74. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 1.60.

Equinix (NASDAQ:EQIX) last announced its earnings results on Thursday, November 1st. The financial services provider reported $1.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.47 by ($2.92). Equinix had a net margin of 5.71% and a return on equity of 7.22%. The business had revenue of $1.28 billion for the quarter, compared to analysts’ expectations of $1.28 billion. During the same period in the prior year, the business earned $3.63 earnings per share. The company’s revenue for the quarter was up 11.4% compared to the same quarter last year. Equities analysts expect that Equinix Inc will post 18.58 earnings per share for the current fiscal year.

In related news, insider Michael Earl Campbell sold 250 shares of Equinix stock in a transaction dated Wednesday, August 15th. The stock was sold at an average price of $433.24, for a total value of $108,310.00. Following the completion of the sale, the insider now owns 1,427 shares of the company’s stock, valued at approximately $618,233.48. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Keith D. Taylor sold 2,000 shares of the firm’s stock in a transaction dated Monday, August 27th. The stock was sold at an average price of $431.65, for a total value of $863,300.00. Following the completion of the transaction, the chief financial officer now owns 21,141 shares of the company’s stock, valued at approximately $9,125,512.65. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 3,566 shares of company stock valued at $1,528,778. Insiders own 0.51% of the company’s stock.

Equinix Company Profile

Equinix, Inc (Nasdaq: EQIX) connects the world's leading businesses to their customers, employees and partners inside the most-interconnected data centers. In 52 markets across five continents, Equinix is where companies come together to realize new opportunities and accelerate their business, IT and cloud strategies.

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Institutional Ownership by Quarter for Equinix (NASDAQ:EQIX)

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