Cramer Rosenthal Mcglynn LLC reduced its position in Equinix, Inc. (NASDAQ:EQIX) by 7.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 44,111 shares of the financial services provider’s stock after selling 3,532 shares during the quarter. Cramer Rosenthal Mcglynn LLC owned 0.06% of Equinix worth $19,687,000 as of its most recent SEC filing.
Other hedge funds have also recently added to or reduced their stakes in the company. Proficio Capital Partners LLC raised its holdings in shares of Equinix by 2.9% in the second quarter. Proficio Capital Partners LLC now owns 245 shares of the financial services provider’s stock valued at $112,000 after acquiring an additional 7 shares in the last quarter. San Francisco Sentry Investment Group CA bought a new position in Equinix in the second quarter worth about $127,000. Smithfield Trust Co. raised its holdings in Equinix by 19.1% in the second quarter. Smithfield Trust Co. now owns 337 shares of the financial services provider’s stock worth $145,000 after purchasing an additional 54 shares in the last quarter. Amica Retiree Medical Trust bought a new position in Equinix in the third quarter worth about $188,000. Finally, Commerce Bank bought a new position in Equinix in the third quarter worth about $203,000. Hedge funds and other institutional investors own 94.34% of the company’s stock.
A number of equities analysts have commented on the stock. Barclays reiterated an “equal weight” rating and issued a $475.00 target price (up from $410.00) on shares of Equinix in a report on Wednesday, August 9th. BidaskClub downgraded shares of Equinix from a “strong-buy” rating to a “buy” rating in a report on Tuesday, August 8th. Credit Suisse Group reiterated an “outperform” rating and issued a $515.00 target price (up from $510.00) on shares of Equinix in a report on Thursday, November 2nd. Berenberg Bank assumed coverage on shares of Equinix in a report on Tuesday, September 26th. They issued a “buy” rating and a $550.00 target price for the company. Finally, J P Morgan Chase & Co upgraded shares of Equinix from a “neutral” rating to an “overweight” rating and set a $550.00 target price for the company in a report on Thursday, November 2nd. Three research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $500.74.
In other news, CFO Keith D. Taylor sold 2,000 shares of the business’s stock in a transaction dated Monday, November 27th. The stock was sold at an average price of $476.81, for a total transaction of $953,620.00. Following the sale, the chief financial officer now owns 27,996 shares in the company, valued at $13,348,772.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Christopher B. Paisley sold 593 shares of the business’s stock in a transaction dated Monday, November 6th. The stock was sold at an average price of $484.99, for a total value of $287,599.07. The disclosure for this sale can be found here. Insiders have sold 5,993 shares of company stock worth $2,770,635 in the last 90 days. Insiders own 0.58% of the company’s stock.
Shares of Equinix, Inc. (NASDAQ EQIX) opened at $445.59 on Wednesday. Equinix, Inc. has a 52 week low of $327.37 and a 52 week high of $495.35. The firm has a market capitalization of $36,704.12, a PE ratio of 26.39, a PEG ratio of 1.89 and a beta of 0.46. The company has a current ratio of 2.11, a quick ratio of 2.11 and a debt-to-equity ratio of 1.51.
Equinix (NASDAQ:EQIX) last issued its quarterly earnings results on Wednesday, November 1st. The financial services provider reported $3.63 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.39 by $2.24. Equinix had a return on equity of 5.59% and a net margin of 5.58%. The business had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.14 billion. During the same quarter in the previous year, the firm earned $3.95 earnings per share. The company’s revenue was up 24.6% on a year-over-year basis. research analysts forecast that Equinix, Inc. will post 16.05 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 13th. Stockholders of record on Wednesday, November 15th will be paid a dividend of $2.00 per share. The ex-dividend date of this dividend is Tuesday, November 14th. This represents a $8.00 dividend on an annualized basis and a dividend yield of 1.80%. Equinix’s payout ratio is 264.03%.
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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