Equinix Inc (EQIX) Position Raised by Zurich Insurance Group Ltd FI

Zurich Insurance Group Ltd FI boosted its position in shares of Equinix Inc (NASDAQ:EQIX) by 44.8% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 17,526 shares of the financial services provider’s stock after buying an additional 5,422 shares during the quarter. Zurich Insurance Group Ltd FI’s holdings in Equinix were worth $7,534,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of EQIX. Summit Trail Advisors LLC raised its holdings in Equinix by 38,122.7% during the 1st quarter. Summit Trail Advisors LLC now owns 538,940 shares of the financial services provider’s stock valued at $539,000 after buying an additional 537,530 shares during the last quarter. Edgewood Management LLC raised its holdings in Equinix by 19.4% during the 1st quarter. Edgewood Management LLC now owns 2,206,596 shares of the financial services provider’s stock valued at $922,666,000 after buying an additional 357,966 shares during the last quarter. Manning & Napier Group LLC raised its holdings in Equinix by 498.9% during the 2nd quarter. Manning & Napier Group LLC now owns 292,305 shares of the financial services provider’s stock valued at $125,657,000 after buying an additional 243,495 shares during the last quarter. USS Investment Management Ltd raised its holdings in Equinix by 69.2% during the 1st quarter. USS Investment Management Ltd now owns 571,111 shares of the financial services provider’s stock valued at $240,346,000 after buying an additional 233,528 shares during the last quarter. Finally, Principal Financial Group Inc. raised its holdings in Equinix by 12.2% during the 1st quarter. Principal Financial Group Inc. now owns 2,084,542 shares of the financial services provider’s stock valued at $871,629,000 after buying an additional 226,090 shares during the last quarter. Institutional investors own 97.35% of the company’s stock.

EQIX has been the subject of a number of recent analyst reports. Credit Suisse Group set a $525.00 price target on shares of Equinix and gave the company a “buy” rating in a report on Thursday, May 31st. Deutsche Bank lowered their price target on shares of Equinix from $550.00 to $540.00 and set a “buy” rating for the company in a report on Thursday, May 31st. BidaskClub lowered shares of Equinix from a “hold” rating to a “sell” rating in a report on Friday, June 8th. Cowen lowered their price target on shares of Equinix from $546.00 to $494.00 and set an “outperform” rating for the company in a report on Thursday, June 21st. Finally, ValuEngine upgraded shares of Equinix from a “sell” rating to a “hold” rating in a report on Tuesday, June 26th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and eighteen have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $507.10.

Shares of NASDAQ EQIX opened at $448.14 on Friday. The company has a debt-to-equity ratio of 1.60, a current ratio of 1.29 and a quick ratio of 1.29. Equinix Inc has a 12 month low of $370.79 and a 12 month high of $495.35. The firm has a market capitalization of $34.94 billion, a price-to-earnings ratio of 24.18, a P/E/G ratio of 1.50 and a beta of 0.47.

Equinix (NASDAQ:EQIX) last issued its quarterly earnings data on Wednesday, August 8th. The financial services provider reported $0.85 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.93 by ($0.08). Equinix had a return on equity of 7.22% and a net margin of 5.71%. The company had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $1.26 billion. During the same quarter last year, the company posted $2.80 earnings per share. The firm’s revenue for the quarter was up 18.3% compared to the same quarter last year. equities research analysts expect that Equinix Inc will post 18.58 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 19th. Stockholders of record on Wednesday, August 22nd will be given a $2.28 dividend. This represents a $9.12 dividend on an annualized basis and a dividend yield of 2.04%. The ex-dividend date is Tuesday, August 21st. Equinix’s dividend payout ratio is presently 49.22%.

In other news, insider Michael Earl Campbell sold 1,316 shares of the company’s stock in a transaction dated Wednesday, September 5th. The shares were sold at an average price of $423.38, for a total value of $557,168.08. Following the sale, the insider now directly owns 3,954 shares of the company’s stock, valued at approximately $1,674,044.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Keith D. Taylor sold 2,000 shares of the company’s stock in a transaction dated Monday, August 27th. The stock was sold at an average price of $431.65, for a total transaction of $863,300.00. Following the completion of the sale, the chief financial officer now directly owns 21,141 shares in the company, valued at $9,125,512.65. The disclosure for this sale can be found here. Insiders sold a total of 7,316 shares of company stock worth $3,156,888 over the last ninety days. Insiders own 0.51% of the company’s stock.

Equinix 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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Institutional Ownership by Quarter for Equinix (NASDAQ:EQIX)

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