Equinix Inc (NASDAQ:EQIX) Holdings Cut by Wealthfront Advisers LLC

Wealthfront Advisers LLC cut its position in Equinix Inc (NASDAQ:EQIX) by 14.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,346 shares of the financial services provider’s stock after selling 403 shares during the quarter. Wealthfront Advisers LLC’s holdings in Equinix were worth $1,063,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Middleton & Co Inc MA increased its holdings in shares of Equinix by 6.8% in the 1st quarter. Middleton & Co Inc MA now owns 13,041 shares of the financial services provider’s stock worth $5,910,000 after buying an additional 830 shares during the last quarter. MML Investors Services LLC increased its holdings in shares of Equinix by 6.1% in the 4th quarter. MML Investors Services LLC now owns 3,241 shares of the financial services provider’s stock worth $1,143,000 after buying an additional 185 shares during the last quarter. American Investment Services Inc. bought a new position in shares of Equinix in the 1st quarter worth $774,000. Sumitomo Mitsui Asset Management Company LTD increased its holdings in shares of Equinix by 8.3% in the 1st quarter. Sumitomo Mitsui Asset Management Company LTD now owns 5,641 shares of the financial services provider’s stock worth $2,556,000 after buying an additional 434 shares during the last quarter. Finally, CapWealth Advisors LLC increased its holdings in shares of Equinix by 5.1% in the 4th quarter. CapWealth Advisors LLC now owns 39,093 shares of the financial services provider’s stock worth $13,783,000 after buying an additional 1,909 shares during the last quarter. Institutional investors and hedge funds own 99.65% of the company’s stock.

A number of brokerages have recently commented on EQIX. BidaskClub lowered shares of Equinix from a “strong-buy” rating to a “buy” rating in a report on Tuesday. Argus began coverage on shares of Equinix in a report on Monday, June 3rd. They issued a “buy” rating and a $550.00 price target on the stock. ValuEngine raised shares of Equinix from a “hold” rating to a “buy” rating in a report on Wednesday, May 15th. Deutsche Bank increased their price target on shares of Equinix from $480.00 to $500.00 and gave the stock a “buy” rating in a report on Thursday, May 9th. Finally, Zacks Investment Research raised shares of Equinix from a “sell” rating to a “hold” rating in a report on Wednesday, May 8th. Two investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $502.00.

In other Equinix news, insider Michael Earl Campbell sold 1,250 shares of the firm’s stock in a transaction on Monday, May 20th. The shares were sold at an average price of $490.87, for a total value of $613,587.50. Following the sale, the insider now owns 2,578 shares of the company’s stock, valued at approximately $1,265,462.86. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Charles J. Meyers sold 282 shares of the firm’s stock in a transaction on Monday, April 15th. The stock was sold at an average price of $462.31, for a total transaction of $130,371.42. Following the completion of the sale, the chief executive officer now directly owns 5,882 shares in the company, valued at approximately $2,719,307.42. The disclosure for this sale can be found here. In the last three months, insiders sold 3,232 shares of company stock worth $1,555,845. Insiders own 0.49% of the company’s stock.

Shares of EQIX stock traded up $1.35 on Friday, hitting $508.65. 5,774 shares of the company’s stock traded hands, compared to its average volume of 319,885. The company has a debt-to-equity ratio of 1.25, a quick ratio of 1.56 and a current ratio of 1.56. Equinix Inc has a one year low of $335.29 and a one year high of $508.99. The firm has a market cap of $40.92 billion, a P/E ratio of 24.58, a P/E/G ratio of 1.74 and a beta of 0.76.

Equinix (NASDAQ:EQIX) last released its earnings results on Wednesday, May 1st. The financial services provider reported $1.44 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $5.16 by ($3.72). Equinix had a net margin of 8.06% and a return on equity of 5.66%. The business had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.35 billion. During the same period in the prior year, the business posted $5.21 EPS. Equinix’s revenue for the quarter was up 12.1% on a year-over-year basis. As a group, analysts forecast that Equinix Inc will post 20.81 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 19th. Shareholders of record on Wednesday, May 22nd will be issued a $2.46 dividend. This represents a $9.84 dividend on an annualized basis and a yield of 1.93%. The ex-dividend date of this dividend is Tuesday, May 21st. Equinix’s dividend payout ratio (DPR) is presently 47.56%.

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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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