Kornitzer Capital Management Inc. KS decreased its position in Equinix Inc. (NASDAQ:EQIX) by 3.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 101,857 shares of the company’s stock after selling 3,835 shares during the period. Equinix comprises 0.7% of Kornitzer Capital Management Inc. KS’s investment portfolio, making the stock its 28th largest position. Kornitzer Capital Management Inc. KS’s holdings in Equinix were worth $39,493,000 at the end of the most recent reporting period.
Several other institutional investors have also modified their holdings of EQIX. Sumitomo Mitsui Trust Holdings Inc. raised its position in shares of Equinix by 3.3% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 204,156 shares of the company’s stock worth $79,157,000 after buying an additional 6,444 shares during the period. Duff & Phelps Investment Management Co. acquired a new position in shares of Equinix during the second quarter worth approximately $79,003,000. BP PLC acquired a new position in shares of Equinix during the second quarter worth approximately $3,490,000. Sumitomo Mitsui Asset Management Company LTD raised its position in shares of Equinix by 2.6% in the second quarter. Sumitomo Mitsui Asset Management Company LTD now owns 5,236 shares of the company’s stock worth $2,030,000 after buying an additional 131 shares during the period. Finally, Henderson Group PLC raised its position in shares of Equinix by 1.8% in the second quarter. Henderson Group PLC now owns 34,636 shares of the company’s stock worth $13,432,000 after buying an additional 604 shares during the period. Institutional investors own 99.86% of the company’s stock.
Shares of Equinix Inc. (NASDAQ:EQIX) traded down 0.05% during midday trading on Friday, reaching $361.72. 286,852 shares of the company’s stock were exchanged. The stock has a market capitalization of $25.71 billion, a P/E ratio of 357.08 and a beta of 0.79. The firm has a 50-day moving average of $361.70 and a 200-day moving average of $358.91. Equinix Inc. has a 12-month low of $255.45 and a 12-month high of $391.07.
Equinix (NASDAQ:EQIX) last posted its earnings results on Wednesday, August 3rd. The company reported $0.56 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $3.64 by $3.08. Equinix had a return on equity of 6.02% and a net margin of 2.07%. The company earned $900.50 million during the quarter, compared to analysts’ expectations of $893.99 million. During the same period in the prior year, the business posted $1.03 earnings per share. The company’s revenue for the quarter was up 35.3% on a year-over-year basis. Analysts anticipate that Equinix Inc. will post $14.93 EPS for the current fiscal year.
A number of brokerages have recently commented on EQIX. Cowen and Company reiterated an “outperform” rating and set a $409.00 price target on shares of Equinix in a report on Thursday, September 22nd. Zacks Investment Research upgraded shares of Equinix from a “hold” rating to a “buy” rating and set a $400.00 target price on the stock in a report on Wednesday, September 14th. Jefferies Group restated a “hold” rating on shares of Equinix in a report on Tuesday, September 13th. Oppenheimer Holdings Inc. upgraded shares of Equinix from a “market perform” rating to an “outperform” rating and set a $420.00 target price on the stock in a report on Tuesday, September 6th. Finally, Pacific Crest restated a “buy” rating on shares of Equinix in a report on Wednesday, August 24th. Seven analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $398.79.
In other news, COO Charles J. Meyers sold 200 shares of the firm’s stock in a transaction dated Monday, October 3rd. The shares were sold at an average price of $360.63, for a total value of $72,126.00. Following the completion of the sale, the chief operating officer now directly owns 1,445 shares of the company’s stock, valued at approximately $521,110.35. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Eric Schwartz sold 3,658 shares of the firm’s stock in a transaction dated Monday, August 8th. The stock was sold at an average price of $362.65, for a total transaction of $1,326,573.70. Following the completion of the sale, the insider now directly owns 4,733 shares of the company’s stock, valued at $1,716,422.45. The disclosure for this sale can be found here. 0.69% of the stock is currently owned by insiders.
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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