BlackRock Inc. grew its holdings in Equinix Inc (NASDAQ:EQIX) by 2.5% during the third quarter, HoldingsChannel.com reports. The firm owned 5,925,203 shares of the financial services provider’s stock after acquiring an additional 144,960 shares during the quarter. BlackRock Inc. owned about 0.07% of Equinix worth $2,564,961,000 at the end of the most recent quarter.
Other large investors have also made changes to their positions in the company. Cim Investment Mangement Inc. raised its stake in Equinix by 60.5% during the 3rd quarter. Cim Investment Mangement Inc. now owns 2,368 shares of the financial services provider’s stock worth $1,025,000 after buying an additional 893 shares during the period. CI Investments Inc. raised its stake in Equinix by 7.9% during the 3rd quarter. CI Investments Inc. now owns 61,312 shares of the financial services provider’s stock worth $26,541,000 after buying an additional 4,512 shares during the period. Artemis Investment Management LLP acquired a new position in Equinix during the 3rd quarter worth approximately $16,975,000. Alliancebernstein L.P. raised its stake in Equinix by 0.5% during the 3rd quarter. Alliancebernstein L.P. now owns 208,634 shares of the financial services provider’s stock worth $90,316,000 after buying an additional 980 shares during the period. Finally, Piedmont Investment Advisors Inc. raised its stake in Equinix by 91.5% during the 3rd quarter. Piedmont Investment Advisors Inc. now owns 6,536 shares of the financial services provider’s stock worth $2,829,000 after buying an additional 3,123 shares during the period. 98.54% of the stock is currently owned by institutional investors.
A number of research analysts recently weighed in on EQIX shares. Citigroup upped their price target on Equinix from $494.00 to $506.00 and gave the stock a “buy” rating in a research note on Thursday, August 9th. Credit Suisse Group set a $520.00 price target on Equinix and gave the stock a “buy” rating in a research note on Thursday, August 9th. BMO Capital Markets dropped their price target on Equinix from $526.00 to $521.00 and set a “buy” rating on the stock in a research note on Thursday, August 9th. BidaskClub raised Equinix from a “sell” rating to a “hold” rating in a research note on Saturday, September 15th. Finally, ValuEngine raised Equinix from a “sell” rating to a “hold” rating in a research note on Wednesday, September 12th. Three investment analysts have rated the stock with a sell rating, two have given a hold rating and sixteen have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $501.28.
Equinix (NASDAQ:EQIX) last issued its quarterly earnings data on Thursday, November 1st. The financial services provider reported $1.55 EPS for the quarter, missing the consensus estimate of $4.47 by ($2.92). The company had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.28 billion. Equinix had a return on equity of 7.70% and a net margin of 6.46%. The business’s revenue for the quarter was up 11.4% compared to the same quarter last year. During the same period last year, the company earned $3.63 earnings per share. On average, equities research analysts predict that Equinix Inc will post 18.45 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 12th. Stockholders of record on Wednesday, November 14th will be paid a $2.28 dividend. This represents a $9.12 annualized dividend and a dividend yield of 2.40%. The ex-dividend date is Tuesday, November 13th. Equinix’s dividend payout ratio (DPR) is presently 49.22%.
In other news, insider Michael Earl Campbell sold 1,316 shares of the stock in a transaction that occurred on Wednesday, September 5th. The stock was sold at an average price of $423.38, for a total value of $557,168.08. Following the completion of the sale, the insider now directly owns 3,954 shares of the company’s stock, valued at $1,674,044.52. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Keith D. Taylor sold 2,000 shares of the stock in a transaction that occurred on Monday, August 27th. The stock was sold at an average price of $431.65, for a total value of $863,300.00. Following the completion of the sale, the chief financial officer now directly owns 21,141 shares of the company’s stock, valued at $9,125,512.65. The disclosure for this sale can be found here. Over the last three months, insiders sold 6,108 shares of company stock valued at $2,489,413. Company insiders own 0.51% of the company’s stock.
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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.
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