Equinix Inc (EQIX) Shares Bought by Edgewood Management LLC

Edgewood Management LLC boosted its holdings in Equinix Inc (NASDAQ:EQIX) by 1.6% in the third quarter, HoldingsChannel reports. The firm owned 2,287,779 shares of the financial services provider’s stock after purchasing an additional 35,868 shares during the period. Equinix makes up about 3.3% of Edgewood Management LLC’s investment portfolio, making the stock its 19th biggest holding. Edgewood Management LLC’s holdings in Equinix were worth $990,356,000 as of its most recent filing with the SEC.

A number of other hedge funds have also modified their holdings of EQIX. Three Peaks Capital Management LLC bought a new stake in Equinix in the second quarter worth approximately $1,291,000. Advisory Services Network LLC increased its holdings in Equinix by 64.6% in the second quarter. Advisory Services Network LLC now owns 665 shares of the financial services provider’s stock worth $289,000 after purchasing an additional 261 shares in the last quarter. Shufro Rose & Co. LLC increased its holdings in Equinix by 16.7% in the second quarter. Shufro Rose & Co. LLC now owns 3,685 shares of the financial services provider’s stock worth $1,584,000 after purchasing an additional 527 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in Equinix by 126.1% in the second quarter. Massachusetts Financial Services Co. MA now owns 96,640 shares of the financial services provider’s stock worth $41,544,000 after purchasing an additional 53,898 shares in the last quarter. Finally, BP PLC increased its holdings in Equinix by 14.9% in the second quarter. BP PLC now owns 10,000 shares of the financial services provider’s stock worth $4,299,000 after purchasing an additional 1,300 shares in the last quarter. Institutional investors and hedge funds own 98.54% of the company’s stock.

In related news, insider Yau Tat Lee sold 2,792 shares of the company’s stock in a transaction on Thursday, November 15th. The stock was sold at an average price of $382.86, for a total transaction of $1,068,945.12. Following the completion of the sale, the insider now owns 2,182 shares in the company, valued at $835,400.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Michael Earl Campbell sold 1,316 shares of the company’s stock in a transaction 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 sale, the insider now owns 3,954 shares of the company’s stock, valued at approximately $1,674,044.52. The disclosure for this sale can be found here. Corporate insiders own 0.51% of the company’s stock.

A number of equities research analysts have weighed in on EQIX shares. Jefferies Financial Group reiterated a “hold” rating and issued a $454.00 target price (down from $460.00) on shares of Equinix in a report on Tuesday, October 23rd. BidaskClub downgraded Equinix from a “hold” rating to a “sell” rating in a report on Thursday, September 27th. ValuEngine upgraded Equinix from a “sell” rating to a “hold” rating in a report on Wednesday, September 12th. KeyCorp initiated coverage on Equinix in a report on Tuesday, October 23rd. They set a “sector weight” rating for the company. Finally, Mitsubishi UFJ Financial Group boosted their price objective on Equinix to $483.00 and gave the company an “overweight” rating in a report on Friday, August 17th. Three research analysts have rated the stock with a sell rating, two have given a hold rating and sixteen have given a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $501.28.

NASDAQ EQIX opened at $380.40 on Monday. The company has a market cap of $30.58 billion, a PE ratio of 18.64, a PEG ratio of 1.27 and a beta of 0.74. Equinix Inc has a 52 week low of $370.79 and a 52 week high of $481.48. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 1.54.

Equinix (NASDAQ:EQIX) last released its quarterly earnings data on Thursday, November 1st. The financial services provider reported $1.55 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $4.47 by ($2.92). The firm had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.28 billion. Equinix had a net margin of 6.46% and a return on equity of 7.70%. The company’s revenue was up 11.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.63 EPS. On average, equities analysts anticipate that Equinix Inc will post 18.45 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 12th. Investors of record on Wednesday, November 14th will be issued a dividend of $2.28 per share. 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 (DPR) is currently 49.22%.

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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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Want to see what other hedge funds are holding EQIX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Equinix Inc (NASDAQ:EQIX).

Institutional Ownership by Quarter for Equinix (NASDAQ:EQIX)

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