Cox Capital Mgt LLC Makes New Investment in Equinix, Inc. (NASDAQ:EQIX)

Cox Capital Mgt LLC acquired a new position in shares of Equinix, Inc. (NASDAQ:EQIX – Get Rating) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 1,190 shares of the financial services provider’s stock, valued at approximately $779,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. RB Capital Management LLC grew its position in Equinix by 7.1% during the 4th quarter. RB Capital Management LLC now owns 530 shares of the financial services provider’s stock worth $347,000 after purchasing an additional 35 shares in the last quarter. Weatherly Asset Management L. P. grew its position in Equinix by 0.8% during the 4th quarter. Weatherly Asset Management L. P. now owns 5,269 shares of the financial services provider’s stock worth $3,451,000 after purchasing an additional 40 shares in the last quarter. Coldstream Capital Management Inc. purchased a new position in shares of Equinix during the 4th quarter valued at $588,000. Yousif Capital Management LLC grew its holdings in shares of Equinix by 4.7% during the 4th quarter. Yousif Capital Management LLC now owns 16,953 shares of the financial services provider’s stock valued at $11,105,000 after acquiring an additional 754 shares in the last quarter. Finally, Wedmont Private Capital purchased a new position in shares of Equinix during the 4th quarter valued at $309,000. 92.80% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

EQIX has been the topic of several research analyst reports. Exane BNP Paribas initiated coverage on shares of Equinix in a report on Wednesday, December 14th. They set an “outperform” rating on the stock. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Equinix from $725.00 to $760.00 and gave the company a “buy” rating in a report on Wednesday, February 22nd. TD Securities boosted their price target on shares of Equinix from $750.00 to $800.00 and gave the company a “hold” rating in a report on Thursday, February 16th. Cowen upgraded shares of Equinix from a “market perform” rating to an “outperform” rating and set a $811.00 price target on the stock in a report on Tuesday, December 13th. Finally, Cowen raised shares of Equinix from a “market perform” rating to an “outperform” rating and set a $811.00 price objective for the company in a research note on Tuesday, December 13th. Six investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Equinix has an average rating of “Moderate Buy” and a consensus target price of $779.28.

Insider Transactions at Equinix

In other news, insider Karl Strohmeyer sold 2,353 shares of the business’s stock in a transaction dated Wednesday, January 18th. The shares were sold at an average price of $707.41, for a total transaction of $1,664,535.73. Following the transaction, the insider now owns 20,431 shares in the company, valued at approximately $14,453,093.71. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, Chairman Camp Peter Van sold 462 shares of the business’s stock in a transaction dated Wednesday, January 18th. The shares were sold at an average price of $708.61, for a total transaction of $327,377.82. Following the transaction, the chairman now owns 7,416 shares in the company, valued at approximately $5,255,051.76. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Karl Strohmeyer sold 2,353 shares of the company’s stock in a transaction dated Wednesday, January 18th. The shares were sold at an average price of $707.41, for a total transaction of $1,664,535.73. Following the completion of the sale, the insider now directly owns 20,431 shares in the company, valued at approximately $14,453,093.71. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 20,971 shares of company stock worth $14,666,488. 0.32% of the stock is currently owned by company insiders.

Equinix Stock Performance

Equinix stock traded down $11.73 on Friday, reaching $690.85. 841,357 shares of the stock were exchanged, compared to its average volume of 392,563. The stock has a market cap of $64.10 billion, a PE ratio of 89.95, a PEG ratio of 2.29 and a beta of 0.61. The company has a current ratio of 1.80, a quick ratio of 1.80 and a debt-to-equity ratio of 1.29. Equinix, Inc. has a twelve month low of $494.89 and a twelve month high of $776.35. The firm has a fifty day moving average price of $710.66 and a two-hundred day moving average price of $652.89.

Equinix (NASDAQ:EQIX – Get Rating) last released its earnings results on Wednesday, February 15th. The financial services provider reported $1.39 earnings per share for the quarter, missing analysts’ consensus estimates of $5.90 by ($4.51). The firm had revenue of $1.87 billion for the quarter, compared to analyst estimates of $1.86 billion. Equinix had a return on equity of 6.37% and a net margin of 9.70%. The firm’s revenue was up 9.6% on a year-over-year basis. During the same period in the prior year, the firm earned $6.22 EPS. Sell-side analysts anticipate that Equinix, Inc. will post 27.53 EPS for the current year.

Equinix Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 22nd. Stockholders of record on Tuesday, March 7th will be issued a dividend of $3.41 per share. This is an increase from Equinix’s previous quarterly dividend of $3.10. The ex-dividend date of this dividend is Monday, March 6th. This represents a $13.64 annualized dividend and a dividend yield of 1.97%. Equinix’s payout ratio is presently 177.60%.

Equinix Company Profile

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Equinix, Inc engages in the provision of collocation space and develops data center solutions. The firm offers secure key management, consulting, network virtualization, customer support, and managed services. It operates through the following geographical segments: Americas, Europe, Middle East & Africa and Asia-Pacific.