Virginia Retirement Systems ET AL trimmed its position in Equinix Inc (NASDAQ:EQIX) by 0.8% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 26,200 shares of the financial services provider’s stock after selling 200 shares during the period. Virginia Retirement Systems ET AL’s holdings in Equinix were worth $13,212,000 at the end of the most recent reporting period.
A number of other hedge funds also recently modified their holdings of the business. Comerica Securities Inc. raised its holdings in shares of Equinix by 51.1% during the 4th quarter. Comerica Securities Inc. now owns 1,958 shares of the financial services provider’s stock worth $690,000 after acquiring an additional 662 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Equinix by 7.2% during the 4th quarter. Geode Capital Management LLC now owns 973,381 shares of the financial services provider’s stock worth $342,531,000 after acquiring an additional 65,128 shares in the last quarter. Two Sigma Advisers LP purchased a new stake in shares of Equinix during the 4th quarter worth approximately $564,000. Washington Trust Bank purchased a new stake in shares of Equinix during the 1st quarter worth approximately $29,000. Finally, Heritage Investors Management Corp raised its holdings in shares of Equinix by 7.4% during the 1st quarter. Heritage Investors Management Corp now owns 23,242 shares of the financial services provider’s stock worth $10,532,000 after acquiring an additional 1,599 shares in the last quarter. Institutional investors own 98.03% of the company’s stock.
In other Equinix news, CAO Simon Miller sold 385 shares of the stock in a transaction on Monday, August 5th. The stock was sold at an average price of $516.27, for a total value of $198,763.95. Following the sale, the chief accounting officer now owns 689 shares in the company, valued at $355,710.03. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Michael Earl Campbell sold 1,000 shares of the stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $491.62, for a total value of $491,620.00. Following the completion of the sale, the insider now owns 2,578 shares in the company, valued at approximately $1,267,396.36. The disclosure for this sale can be found here. In the last quarter, insiders sold 5,795 shares of company stock worth $2,930,210. Insiders own 0.49% of the company’s stock.
Equinix (NASDAQ:EQIX) last released its earnings results on Wednesday, July 31st. The financial services provider reported $1.69 earnings per share for the quarter, missing analysts’ consensus estimates of $5.14 by ($3.45). Equinix had a return on equity of 6.29% and a net margin of 9.29%. The business had revenue of $1.38 billion during the quarter, compared to analysts’ expectations of $1.39 billion. During the same quarter in the previous year, the business earned $3.63 EPS. The business’s revenue for the quarter was up 9.8% on a year-over-year basis. On average, analysts anticipate that Equinix Inc will post 20.7 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 18th. Shareholders of record on Wednesday, August 21st will be paid a $2.46 dividend. The ex-dividend date is Tuesday, August 20th. This represents a $9.84 dividend on an annualized basis and a yield of 1.88%. Equinix’s payout ratio is 47.56%.
Several analysts recently weighed in on the company. Deutsche Bank increased their price target on Equinix from $480.00 to $500.00 and gave the company a “buy” rating in a report on Thursday, May 9th. Mitsubishi UFJ Financial Group increased their price target on Equinix from $460.00 to $484.00 and gave the company an “overweight” rating in a report on Thursday, May 2nd. Royal Bank of Canada increased their price target on Equinix from $500.00 to $520.00 and gave the company an “outperform” rating in a report on Monday, May 6th. Argus assumed coverage on Equinix in a report on Monday, June 3rd. They set a “buy” rating and a $550.00 price target on the stock. Finally, Oppenheimer increased their price target on Equinix from $500.00 to $550.00 and gave the company an “outperform” rating in a report on Thursday, August 1st. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Equinix has a consensus rating of “Buy” and an average price target of $527.21.
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.
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