Centersquare Investment Management LLC lessened its holdings in shares of Equinix Inc (NASDAQ:EQIX) by 9.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 512,318 shares of the financial services provider’s stock after selling 53,642 shares during the period. Equinix accounts for about 3.9% of Centersquare Investment Management LLC’s investment portfolio, making the stock its 5th biggest holding. Centersquare Investment Management LLC owned 0.63% of Equinix worth $258,356,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Patriot Financial Group Insurance Agency LLC bought a new position in shares of Equinix in the second quarter valued at $26,000. Meeder Asset Management Inc. purchased a new position in shares of Equinix during the 2nd quarter valued at $26,000. Carroll Financial Associates Inc. lifted its stake in shares of Equinix by 63.6% in the 2nd quarter. Carroll Financial Associates Inc. now owns 54 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 21 shares during the last quarter. Meridian Wealth Management LLC acquired a new stake in shares of Equinix in the 1st quarter valued at $28,000. Finally, Berman Capital Advisors LLC lifted its stake in shares of Equinix by 44.9% in the 2nd quarter. Berman Capital Advisors LLC now owns 71 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 22 shares during the last quarter. 98.41% of the stock is currently owned by institutional investors.
In other Equinix news, CAO Simon Miller sold 475 shares of the business’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $564.11, for a total value of $267,952.25. Following the completion of the transaction, the chief accounting officer now owns 951 shares of the company’s stock, valued at approximately $536,468.61. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Brandi Galvin Morandi sold 2,960 shares of the business’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $516.44, for a total value of $1,528,662.40. Following the sale, the insider now owns 19,253 shares of the company’s stock, valued at $9,943,019.32. The disclosure for this sale can be found here. In the last ninety days, insiders sold 12,409 shares of company stock valued at $6,727,033. 0.49% of the stock is owned by insiders.
Shares of Equinix stock opened at $533.36 on Friday. Equinix Inc has a 12-month low of $335.29 and a 12-month high of $567.89. The company has a current ratio of 1.59, a quick ratio of 1.59 and a debt-to-equity ratio of 1.34. The company’s 50-day moving average price is $538.35 and its 200-day moving average price is $491.15. The company has a market cap of $43.16 billion, a price-to-earnings ratio of 25.78, a PEG ratio of 1.76 and a beta of 0.70.
Equinix (NASDAQ:EQIX) last issued its earnings results on Wednesday, July 31st. The financial services provider reported $1.69 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.14 by ($3.45). The firm had revenue of $1.38 billion during the quarter, compared to the consensus estimate of $1.39 billion. Equinix had a return on equity of 6.29% and a net margin of 9.29%. The firm’s revenue for the quarter was up 9.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.63 EPS. On average, sell-side analysts predict that Equinix Inc will post 20.7 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 18th. Shareholders of record on Wednesday, August 21st will be given a dividend of $2.46 per share. This represents a $9.84 annualized dividend and a yield of 1.84%. The ex-dividend date is Tuesday, August 20th. Equinix’s dividend payout ratio is currently 47.56%.
Several equities research analysts recently issued reports on the stock. Credit Suisse Group set a $556.00 price objective on shares of Equinix and gave the company a “buy” rating in a research note on Thursday, July 11th. Stifel Nicolaus boosted their target price on shares of Equinix from $542.00 to $550.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Nomura boosted their target price on shares of Equinix from $505.00 to $575.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. BidaskClub lowered shares of Equinix from a “strong-buy” rating to a “buy” rating in a research report on Thursday. Finally, Oppenheimer upped their price objective on shares of Equinix from $500.00 to $550.00 and gave the company an “outperform” rating in a research report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, three have issued a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company’s stock. Equinix presently has a consensus rating of “Buy” and an average price target of $533.58.
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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