Advisory Services Network LLC lessened its stake in shares of Equinix Inc (NASDAQ:EQIX) by 47.0% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 233 shares of the financial services provider’s stock after selling 207 shares during the period. Advisory Services Network LLC’s holdings in Equinix were worth $105,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently bought and sold shares of EQIX. Meridian Wealth Management LLC acquired a new position in Equinix during the 1st quarter worth about $28,000. Washington Trust Bank acquired a new position in Equinix during the 1st quarter worth about $29,000. Spectrum Management Group Inc. acquired a new position in Equinix during the 1st quarter worth about $29,000. Pearl River Capital LLC acquired a new position in Equinix during the 4th quarter worth about $35,000. Finally, Thomas J. Herzfeld Advisors Inc. lifted its stake in Equinix by 27.9% during the 1st quarter. Thomas J. Herzfeld Advisors Inc. now owns 110 shares of the financial services provider’s stock worth $50,000 after acquiring an additional 24 shares in the last quarter. Institutional investors and hedge funds own 99.65% of the company’s stock.
EQIX has been the topic of several research reports. Zacks Investment Research lowered Haynes International from a “hold” rating to a “sell” rating in a research note on Wednesday, May 8th. Nomura set a $42.00 target price on General Motors and gave the stock a “hold” rating in a research note on Thursday, May 2nd. Mitsubishi UFJ Financial Group increased their target price on Equinix from $460.00 to $484.00 and gave the stock an “overweight” rating in a research note on Thursday, May 2nd. Guggenheim increased their target price on Equinix from $505.00 to $540.00 and gave the stock a “sell” rating in a research note on Tuesday, July 2nd. Finally, Deutsche Bank lowered Mitsubishi Motors from a “buy” rating to a “hold” rating in a research report on Thursday, May 9th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $509.67.
Equinix (NASDAQ:EQIX) last released its quarterly earnings data on Wednesday, May 1st. The financial services provider reported $1.44 EPS for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $1.35 billion. During the same quarter in the previous year, the company posted $5.21 EPS. The company’s revenue was up 12.1% compared to the same quarter last year. Sell-side analysts forecast that Equinix Inc will post 20.73 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 19th. Stockholders of record on Wednesday, May 22nd were issued a $2.46 dividend. The ex-dividend date of this dividend was Tuesday, May 21st. This represents a $9.84 dividend on an annualized basis and a dividend yield of 1.92%. Equinix’s payout ratio is currently 47.56%.
In related news, Director Christopher B. Paisley sold 200 shares of the firm’s stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $487.88, for a total transaction of $97,576.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Michael Earl Campbell sold 1,250 shares of the firm’s stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $490.87, for a total value of $613,587.50. Following the transaction, the insider now owns 2,578 shares in the company, valued at approximately $1,265,462.86. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,700 shares of company stock worth $1,314,219. Company insiders own 0.49% of the company’s stock.
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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