Shorepoint Capital Partners LLC Takes $457,000 Position in Equinix Inc (EQIX)

Shorepoint Capital Partners LLC bought a new stake in Equinix Inc (NASDAQ:EQIX) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor bought 1,008 shares of the financial services provider’s stock, valued at approximately $457,000.

Several other hedge funds have also recently modified their holdings of EQIX. Washington Trust Bank bought a new position in Equinix in the 1st quarter valued at about $29,000. Farmers & Merchants Investments Inc. raised its holdings in Equinix by 174.2% in the 4th quarter. Farmers & Merchants Investments Inc. now owns 85 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 54 shares during the period. Rehmann Capital Advisory Group raised its holdings in Equinix by 158.8% in the 3rd quarter. Rehmann Capital Advisory Group now owns 88 shares of the financial services provider’s stock valued at $38,000 after acquiring an additional 54 shares during the period. Pearl River Capital LLC bought a new position in Equinix in the 4th quarter valued at about $35,000. Finally, Proficio Capital Partners LLC raised its holdings in Equinix by 116.7% in the 4th quarter. Proficio Capital Partners LLC now owns 117 shares of the financial services provider’s stock valued at $41,000 after acquiring an additional 63 shares during the period. 98.47% of the stock is currently owned by institutional investors.

NASDAQ EQIX opened at $476.99 on Friday. The company has a current ratio of 1.56, a quick ratio of 1.00 and a debt-to-equity ratio of 1.25. The company has a market cap of $38.57 billion, a P/E ratio of 23.05, a PEG ratio of 1.68 and a beta of 0.89. Equinix Inc has a 1 year low of $335.29 and a 1 year high of $479.94.

Equinix (NASDAQ:EQIX) last posted its quarterly earnings results on Wednesday, May 1st. The financial services provider reported $1.44 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $5.16 by ($3.72). The firm had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.35 billion. Equinix had a return on equity of 5.66% and a net margin of 8.06%. The business’s revenue was up 12.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $5.21 EPS. Equities analysts expect that Equinix Inc will post 20.93 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 19th. Investors of record on Wednesday, May 22nd will be given a dividend of $2.46 per share. The ex-dividend date is Tuesday, May 21st. This represents a $9.84 annualized dividend and a dividend yield of 2.06%. Equinix’s dividend payout ratio is 47.56%.

Several research firms have weighed in on EQIX. Citigroup increased their price target on shares of Equinix from $481.00 to $482.00 and gave the company a “buy” rating in a report on Friday, March 1st. Zacks Investment Research cut shares of Equinix from a “buy” rating to a “hold” rating in a report on Tuesday, April 16th. Raymond James raised their target price on shares of Equinix from $500.00 to $520.00 and gave the stock a “strong-buy” rating in a report on Thursday. Wells Fargo & Co raised their target price on shares of Equinix from $475.00 to $500.00 and gave the stock an “outperform” rating in a report on Wednesday, March 27th. Finally, UBS Group raised their target price on shares of Equinix from $500.00 to $510.00 and gave the stock a “buy” rating in a report on Thursday. One research analyst has rated the stock with a sell rating, three have given a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $500.38.

In related news, insider Simon Miller sold 378 shares of the stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $426.92, for a total transaction of $161,375.76. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Camp Peter Van sold 3,418 shares of the stock in a transaction that occurred on Wednesday, February 20th. The stock was sold at an average price of $429.76, for a total transaction of $1,468,919.68. Following the sale, the director now owns 8,024 shares in the company, valued at approximately $3,448,394.24. The disclosure for this sale can be found here. Insiders have sold a total of 18,143 shares of company stock worth $7,776,844 in the last quarter. 0.49% of the stock is currently owned by company insiders.

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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)

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