HMI Capital LLC cut its stake in Equinix Inc (NASDAQ:EQIX) by 10.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 225,876 shares of the financial services provider’s stock after selling 27,000 shares during the period. Equinix makes up 12.5% of HMI Capital LLC’s holdings, making the stock its 4th largest position. HMI Capital LLC owned approximately 0.28% of Equinix worth $97,779,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Bridgeworth LLC acquired a new position in shares of Equinix during the 2nd quarter worth about $100,000. Quantbot Technologies LP acquired a new position in shares of Equinix during the 3rd quarter worth about $196,000. We Are One Seven LLC acquired a new position in shares of Equinix during the 3rd quarter worth about $204,000. First Allied Advisory Services Inc. acquired a new position in shares of Equinix during the 2nd quarter worth about $206,000. Finally, Park Avenue Securities LLC acquired a new position in shares of Equinix during the 2nd quarter worth about $214,000. 98.54% of the stock is owned by hedge funds and other institutional investors.
A number of equities analysts have recently commented on EQIX shares. BMO Capital Markets reduced their price objective on shares of Equinix from $526.00 to $521.00 and set a “buy” rating for the company in a research note on Thursday, August 9th. Credit Suisse Group set a $520.00 price objective on shares of Equinix and gave the stock a “buy” rating in a research note on Thursday, August 9th. Citigroup raised their target price on shares of Equinix from $494.00 to $506.00 and gave the company a “buy” rating in a research note on Thursday, August 9th. Mitsubishi UFJ Financial Group raised their target price on shares of Equinix to $483.00 and gave the company an “overweight” rating in a research note on Friday, August 17th. Finally, ValuEngine downgraded shares of Equinix from a “hold” rating to a “sell” rating in a research note on Thursday, August 23rd. Three equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and sixteen have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $501.28.
Equinix (NASDAQ:EQIX) last issued its earnings results on Thursday, November 1st. The financial services provider reported $1.55 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $4.47 by ($2.92). The firm had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.28 billion. Equinix had a net margin of 6.46% and a return on equity of 7.70%. The company’s revenue for the quarter was up 11.4% on a year-over-year basis. During the same quarter last year, the business posted $3.63 earnings per share. On average, sell-side analysts expect that Equinix Inc will post 18.45 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 12th. Shareholders of record on Wednesday, November 14th will be issued a $2.28 dividend. The ex-dividend date of this dividend is Tuesday, November 13th. This represents a $9.12 annualized dividend and a yield of 2.40%. Equinix’s dividend payout ratio is currently 49.22%.
In other Equinix news, insider Michael Earl Campbell sold 1,316 shares of the 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 transaction, 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 SEC, which can be accessed through this hyperlink. Also, insider Yau Tat Lee sold 2,792 shares of the stock in a transaction dated Thursday, November 15th. The shares were sold at an average price of $382.86, for a total transaction of $1,068,945.12. Following the completion of the transaction, the insider now directly owns 2,182 shares in the company, valued at $835,400.52. The disclosure for this sale can be found here. 0.51% of the stock is owned by corporate insiders.
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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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