18,093 Shares in Equinix Inc (EQIX) Acquired by Gradient Investments LLC

Gradient Investments LLC acquired a new position in Equinix Inc (NASDAQ:EQIX) in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 18,093 shares of the financial services provider’s stock, valued at approximately $8,199,000.

A number of other hedge funds have also modified their holdings of the stock. Washington Trust Bank purchased a new stake in shares of Equinix during the first quarter worth $29,000. Farmers & Merchants Investments Inc. increased its position in Equinix by 174.2% during the fourth quarter. Farmers & Merchants Investments Inc. now owns 85 shares of the financial services provider’s stock worth $30,000 after buying an additional 54 shares during the last quarter. Pearl River Capital LLC acquired a new stake in shares of Equinix in the fourth quarter valued at about $35,000. Rehmann Capital Advisory Group grew its position in shares of Equinix by 158.8% in the third quarter. Rehmann Capital Advisory Group now owns 88 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 54 shares during the last quarter. Finally, Proficio Capital Partners LLC grew its position in shares of Equinix by 116.7% in the fourth quarter. Proficio Capital Partners LLC now owns 117 shares of the financial services provider’s stock valued at $41,000 after purchasing an additional 63 shares during the last quarter. 98.47% of the stock is owned by institutional investors and hedge funds.

Shares of EQIX stock opened at $476.99 on Friday. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 1.51. The stock has a market capitalization of $36.77 billion, a PE ratio of 23.05, a PEG ratio of 1.60 and a beta of 0.89. Equinix Inc has a 52-week low of $335.29 and a 52-week high of $479.94.

Equinix (NASDAQ:EQIX) last announced its quarterly earnings results on Wednesday, May 1st. The financial services provider reported $1.44 EPS for the quarter, missing the Zacks’ consensus estimate of $5.16 by ($3.72). Equinix had a net margin of 7.20% and a return on equity of 6.88%. The company had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.35 billion. During the same quarter last year, the company posted $5.21 EPS. The firm’s quarterly revenue was up 12.1% on a year-over-year basis. As a group, equities analysts forecast that Equinix Inc will post 20.89 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 19th. Investors of record on Wednesday, May 22nd will be paid a $2.46 dividend. The ex-dividend date of this dividend is Tuesday, May 21st. This represents a $9.84 dividend on an annualized basis and a yield of 2.06%. Equinix’s dividend payout ratio (DPR) is currently 47.56%.

Several equities research analysts have recently issued reports on EQIX shares. Nomura raised their price target on Equinix from $480.00 to $500.00 and gave the company a “buy” rating in a research report on Friday, March 29th. BidaskClub raised Equinix from a “hold” rating to a “buy” rating in a research report on Saturday, March 9th. Citigroup raised their price target on shares of Equinix from $481.00 to $482.00 and gave the stock a “buy” rating in a research note on Friday, March 1st. Berenberg Bank began coverage on shares of Equinix in a research note on Tuesday, January 8th. They set a “buy” rating and a $477.00 price target for the company. Finally, UBS Group boosted their price objective on shares of Equinix from $500.00 to $510.00 and gave the stock a “buy” rating in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $500.38.

In other Equinix news, insider Karl Strohmeyer sold 1,135 shares of the stock in a transaction that occurred on Tuesday, February 19th. The shares were sold at an average price of $426.96, for a total transaction of $484,599.60. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Charles J. Meyers sold 282 shares of the stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $462.31, for a total transaction of $130,371.42. Following the transaction, the chief executive officer now owns 5,882 shares in the company, valued at approximately $2,719,307.42. The disclosure for this sale can be found here. In the last quarter, insiders sold 18,143 shares of company stock worth $7,776,844. 0.49% of the stock is owned by company insiders.

ILLEGAL ACTIVITY WARNING: This article was first posted by Baseball Daily News and is owned by of Baseball Daily News. If you are accessing this article on another website, it was illegally stolen and reposted in violation of United States and international copyright and trademark law. The correct version of this article can be accessed at https://www.baseballdailydigest.com/news/2019/05/04/gradient-investments-llc-purchases-new-stake-in-equinix-inc-eqix.html.

Equinix Company Profile

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.

Further Reading: Certificate of Deposit (CD)

Institutional Ownership by Quarter for Equinix (NASDAQ:EQIX)

Receive News & Ratings for Equinix Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Equinix and related companies with MarketBeat.com's FREE daily email newsletter.