Brinker Capital Inc. reduced its stake in Equinix Inc (NASDAQ:EQIX) by 7.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 15,733 shares of the financial services provider’s stock after selling 1,204 shares during the period. Brinker Capital Inc.’s holdings in Equinix were worth $5,547,000 as of its most recent SEC filing.
A number of other hedge funds also recently modified their holdings of EQIX. Farmers & Merchants Investments Inc. boosted its stake in Equinix by 174.2% in the fourth quarter. Farmers & Merchants Investments Inc. now owns 85 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 54 shares during the period. Pearl River Capital LLC acquired a new position in Equinix in the fourth quarter valued at approximately $35,000. Rehmann Capital Advisory Group boosted its stake in Equinix by 158.8% in the third quarter. Rehmann Capital Advisory Group now owns 88 shares of the financial services provider’s stock valued at $38,000 after acquiring an additional 54 shares during the period. Proficio Capital Partners LLC boosted its stake in Equinix by 116.7% in the fourth quarter. Proficio Capital Partners LLC now owns 117 shares of the financial services provider’s stock valued at $41,000 after acquiring an additional 63 shares during the period. Finally, Lindbrook Capital LLC acquired a new position in Equinix in the fourth quarter valued at approximately $47,000. Institutional investors own 98.41% of the company’s stock.
In related news, Director Camp Peter Van sold 1,257 shares of the business’s stock in a transaction that occurred on Wednesday, January 16th. The stock was sold at an average price of $380.93, for a total transaction of $478,829.01. Following the sale, the director now owns 6,454 shares of the company’s stock, valued at $2,458,522.22. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Charles J. Meyers sold 5,648 shares of the business’s stock in a transaction that occurred on Wednesday, January 16th. The stock was sold at an average price of $380.97, for a total value of $2,151,718.56. Following the sale, the chief executive officer now directly owns 5,750 shares in the company, valued at approximately $2,190,577.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 27,513 shares of company stock valued at $11,262,623. Insiders own 0.51% of the company’s stock.
A number of equities analysts have commented on EQIX shares. BidaskClub downgraded Equinix from a “buy” rating to a “hold” rating in a research note on Thursday, December 27th. Jefferies Financial Group upgraded Equinix from a “hold” rating to a “buy” rating and lifted their target price for the company from $454.00 to $479.00 in a research note on Monday, December 10th. Credit Suisse Group lifted their target price on Equinix from $467.00 to $474.00 and gave the company an “outperform” rating in a research note on Thursday, February 14th. Berenberg Bank began coverage on Equinix in a research note on Tuesday, January 8th. They issued a “buy” rating and a $477.00 target price for the company. Finally, Zacks Investment Research downgraded Equinix from a “hold” rating to a “sell” rating in a research report on Monday, February 11th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $496.08.
Shares of NASDAQ EQIX opened at $441.61 on Friday. The company has a debt-to-equity ratio of 1.51, a current ratio of 1.00 and a quick ratio of 1.00. The company has a market cap of $35.62 billion, a PE ratio of 21.34, a price-to-earnings-growth ratio of 1.55 and a beta of 0.90. Equinix Inc has a 12-month low of $335.29 and a 12-month high of $457.99.
Equinix (NASDAQ:EQIX) last issued its quarterly earnings data on Wednesday, February 13th. The financial services provider reported $1.36 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $4.46 by ($3.10). The business had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.31 billion. Equinix had a return on equity of 6.88% and a net margin of 7.20%. The business’s quarterly revenue was up 9.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.82 earnings per share. On average, analysts predict that Equinix Inc will post 20.89 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 20th. Stockholders of record on Wednesday, February 27th will be given a dividend of $2.46 per share. The ex-dividend date of this dividend is Tuesday, February 26th. This is an increase from Equinix’s previous quarterly dividend of $2.28. This represents a $9.84 annualized dividend and a dividend yield of 2.23%. Equinix’s payout ratio is currently 47.56%.
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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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