Standard Life Investments LTD cut its stake in shares of Equinix Inc. (NASDAQ:EQIX) by 10.4% during the second quarter, Holdings Channel reports. The fund owned 790,077 shares of the company’s stock after selling 91,313 shares during the period. Equinix accounts for 1.4% of Standard Life Investments LTD’s holdings, making the stock its 24th largest position. Standard Life Investments LTD’s holdings in Equinix were worth $306,388,000 at the end of the most recent reporting period.
Other institutional investors have also recently added to or reduced their stakes in the company. Insight Capital Research & Management Inc. bought a new position in Equinix during the second quarter valued at $2,994,000. Tokio Marine Asset Management Co. Ltd. bought a new position in Equinix during the second quarter valued at $857,000. Resolution Capital Ltd increased its position in Equinix by 9.9% in the second quarter. Resolution Capital Ltd now owns 300,892 shares of the company’s stock valued at $116,665,000 after buying an additional 27,142 shares during the last quarter. American Century Companies Inc. increased its position in Equinix by 21.3% in the second quarter. American Century Companies Inc. now owns 1,099,223 shares of the company’s stock valued at $426,202,000 after buying an additional 192,902 shares during the last quarter. Finally, Candriam Luxembourg S.C.A. increased its position in Equinix by 33.3% in the second quarter. Candriam Luxembourg S.C.A. now owns 2,577 shares of the company’s stock valued at $999,000 after buying an additional 644 shares during the last quarter. 99.86% of the stock is owned by hedge funds and other institutional investors.
Equinix Inc. (NASDAQ:EQIX) traded down 1.13% on Monday, hitting $356.19. The company had a trading volume of 449,494 shares. The stock has a market cap of $25.32 billion, a P/E ratio of 351.62 and a beta of 0.79. The firm’s 50 day moving average price is $364.94 and its 200 day moving average price is $356.52. Equinix Inc. has a 12-month low of $255.45 and a 12-month high of $391.07.
Equinix (NASDAQ:EQIX) last posted its quarterly earnings results on Wednesday, August 3rd. The company reported $0.56 earnings per share for the quarter, missing the Zacks’ 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 analyst estimates of $893.99 million. During the same period last year, the company posted $1.03 earnings per share. The company’s revenue was up 35.3% compared to the same quarter last year. Equities analysts predict that Equinix Inc. will post $14.93 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, September 14th. Stockholders of record on Wednesday, August 24th were paid a $1.75 dividend. This represents a $7.00 dividend on an annualized basis and a dividend yield of 1.97%. The ex-dividend date of this dividend was Monday, August 22nd. Equinix’s dividend payout ratio (DPR) is presently 654.21%.
Several research firms have weighed in on EQIX. Zacks Investment Research raised Equinix from a “hold” rating to a “buy” rating and set a $433.00 price target for the company in a research report on Tuesday, July 5th. Goldman Sachs Group Inc. began coverage on Equinix in a research report on Tuesday, July 5th. They set a “buy” rating and a $435.00 price target for the company. Jefferies Group reissued a “buy” rating and set a $380.00 price target on shares of Equinix in a research report on Wednesday, July 6th. SunTrust Banks Inc. began coverage on Equinix in a research report on Thursday, July 21st. They set a “buy” rating and a $445.00 price target for the company. Finally, Pacific Crest reissued an “overweight” rating and set a $457.00 price target on shares of Equinix in a research report on Monday, June 27th. 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. The stock presently has a consensus rating of “Buy” and an average price target of $398.79.
In other news, insider Eric Schwartz sold 3,658 shares of the company’s stock in a transaction on Monday, August 8th. The shares were sold at an average price of $362.65, for a total value of $1,326,573.70. Following the transaction, the insider now directly owns 4,733 shares of the company’s stock, valued at $1,716,422.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Keith D. Taylor sold 2,500 shares of the company’s stock in a transaction on Tuesday, September 27th. The stock was sold at an average price of $362.41, for a total transaction of $906,025.00. Following the completion of the transaction, the chief financial officer now directly owns 41,878 shares in the company, valued at $15,177,005.98. The disclosure for this sale can be found here. 0.69% of the stock is currently owned by insiders.
Equinix Company Profile
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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