Wedge Capital Management L L P NC decreased its position in Equinix Inc (NASDAQ:EQIX) by 29.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 25,724 shares of the financial services provider’s stock after selling 10,551 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Equinix were worth $12,972,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in EQIX. BlackRock Inc. increased its position in shares of Equinix by 10.6% in the first quarter. BlackRock Inc. now owns 6,584,484 shares of the financial services provider’s stock valued at $2,983,823,000 after acquiring an additional 632,328 shares during the last quarter. FMR LLC increased its position in shares of Equinix by 3.3% in the first quarter. FMR LLC now owns 2,656,695 shares of the financial services provider’s stock valued at $1,203,908,000 after acquiring an additional 85,143 shares during the last quarter. Daiwa Securities Group Inc. increased its position in shares of Equinix by 23.6% in the first quarter. Daiwa Securities Group Inc. now owns 1,314,451 shares of the financial services provider’s stock valued at $595,656,000 after acquiring an additional 250,921 shares during the last quarter. Clearbridge Investments LLC grew its holdings in Equinix by 10.2% during the first quarter. Clearbridge Investments LLC now owns 1,219,458 shares of the financial services provider’s stock worth $552,610,000 after purchasing an additional 112,564 shares during the period. Finally, Northern Trust Corp grew its holdings in Equinix by 7.2% during the first quarter. Northern Trust Corp now owns 1,197,068 shares of the financial services provider’s stock worth $542,463,000 after purchasing an additional 80,619 shares during the period. 97.83% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NASDAQ:EQIX traded up $7.76 during trading on Thursday, reaching $547.64. 3,410 shares of the stock were exchanged, compared to its average volume of 431,719. Equinix Inc has a 12 month low of $335.29 and a 12 month high of $557.54. The company has a market cap of $44.74 billion, a price-to-earnings ratio of 26.40, a PEG ratio of 1.83 and a beta of 0.73. The company’s 50-day moving average is $516.13. The company has a debt-to-equity ratio of 1.34, a quick ratio of 1.59 and a current ratio of 1.59.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 18th. Stockholders of record on Wednesday, August 21st will be issued a dividend of $2.46 per share. This represents a $9.84 dividend on an annualized basis and a dividend yield of 1.80%. The ex-dividend date of this dividend is Tuesday, August 20th. Equinix’s dividend payout ratio is presently 47.56%.
In other news, Director Camp Peter Van sold 3,191 shares of Equinix stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $549.78, for a total value of $1,754,347.98. Following the completion of the sale, the director now directly owns 4,024 shares in the company, valued at $2,212,314.72. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CAO Simon Miller sold 385 shares of Equinix stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $516.27, for a total transaction of $198,763.95. Following the completion of the sale, the chief accounting officer now owns 689 shares of the company’s stock, valued at $355,710.03. The disclosure for this sale can be found here. Over the last quarter, insiders sold 9,236 shares of company stock valued at $4,867,938. 0.49% of the stock is owned by company insiders.
EQIX has been the subject of a number of research analyst reports. Deutsche Bank lifted their price target on Equinix from $480.00 to $500.00 and gave the stock a “buy” rating in a report on Thursday, May 9th. Wells Fargo & Co lifted their price target on Equinix from $500.00 to $545.00 and gave the stock an “outperform” rating in a report on Thursday, August 1st. Argus initiated coverage on Equinix in a report on Monday, June 3rd. They set a “buy” rating and a $550.00 price target for the company. Oppenheimer lifted their price target on Equinix from $500.00 to $550.00 and gave the stock an “outperform” rating in a report on Thursday, August 1st. Finally, Raymond James lifted their price target on Equinix from $520.00 to $560.00 and gave the stock a “strong-buy” rating in a report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Equinix has an average rating of “Buy” and a consensus price target of $527.21.
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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