Muzinich & Co. Inc. reduced its stake in Equinix Inc. (NASDAQ:EQIX) by 72.8% during the second quarter, Holdings Channel reports. The institutional investor owned 337 shares of the company’s stock after selling 900 shares during the period. Muzinich & Co. Inc.’s holdings in Equinix were worth $131,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently modified their holdings of the company. IFP Advisors Inc raised its stake in shares of Equinix by 0.6% in the first quarter. IFP Advisors Inc now owns 310 shares of the company’s stock valued at $103,000 after buying an additional 2 shares in the last quarter. Integrated Investment Consultants LLC raised its stake in shares of Equinix by 5.6% in the second quarter. Integrated Investment Consultants LLC now owns 284 shares of the company’s stock valued at $110,000 after buying an additional 15 shares in the last quarter. NN Investment Partners Holdings N.V. purchased a new stake in shares of Equinix during the first quarter valued at about $142,000. Park Avenue Institutional Advisers LLC raised its stake in shares of Equinix by 7.7% in the first quarter. Park Avenue Institutional Advisers LLC now owns 432 shares of the company’s stock valued at $143,000 after buying an additional 31 shares in the last quarter. Finally, Independent Portfolio Consultants Inc. purchased a new stake in shares of Equinix during the second quarter valued at about $161,000. 99.86% of the stock is owned by institutional investors and hedge funds.
Equinix Inc. (NASDAQ:EQIX) traded up 0.08% during trading on Friday, reaching $360.25. The company’s stock had a trading volume of 611,349 shares. The company has a market capitalization of $25.60 billion, a P/E ratio of 355.63 and a beta of 0.80. The firm’s 50-day moving average price is $365.15 and its 200 day moving average price is $356.20. Equinix Inc. has a 12-month low of $255.45 and a 12-month high of $391.07.
Equinix (NASDAQ:EQIX) last released its quarterly earnings results on Wednesday, August 3rd. The company reported $0.56 earnings per share for the quarter, missing the consensus estimate of $3.64 by $3.08. The firm had revenue of $900.50 million for the quarter, compared to analysts’ expectations of $893.99 million. Equinix had a net margin of 2.07% and a return on equity of 6.02%. The business’s quarterly revenue was up 35.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.03 EPS. On average, analysts predict that Equinix Inc. will post $14.93 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, September 14th. Stockholders of record on Wednesday, August 24th were issued a $1.75 dividend. This represents a $7.00 dividend on an annualized basis and a dividend yield of 1.94%. The ex-dividend date of this dividend was Monday, August 22nd. Equinix’s dividend payout ratio (DPR) is 654.21%.
Several brokerages have issued reports on EQIX. Canaccord Genuity reaffirmed a “buy” rating on shares of Equinix in a research note on Thursday, June 16th. Zacks Investment Research lowered Equinix from a “buy” rating to a “hold” rating in a research note on Friday, August 12th. JPMorgan Chase & Co. reaffirmed a “hold” rating and issued a $428.00 target price on shares of Equinix in a research note on Tuesday, August 9th. Cowen and Company reiterated an “outperform” rating and issued a $409.00 price objective on shares of Equinix in a research report on Thursday, September 22nd. Finally, Jefferies Group reiterated a “buy” rating and issued a $380.00 price objective on shares of Equinix in a research report on Wednesday, July 6th. Seven analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $398.79.
In other news, CFO Keith D. Taylor sold 2,500 shares of Equinix stock in a transaction that occurred on Tuesday, September 27th. The stock was sold at an average price of $362.41, for a total value of $906,025.00. Following the completion of the transaction, the chief financial officer now owns 41,878 shares in the company, valued at approximately $15,177,005.98. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Sara Baack sold 300 shares of Equinix stock in a transaction that occurred on Thursday, September 15th. The stock was sold at an average price of $353.96, for a total value of $106,188.00. Following the completion of the transaction, the insider now owns 6,004 shares of the company’s stock, valued at approximately $2,125,175.84. The disclosure for this sale can be found here. 0.69% of the stock is owned by insiders.
Equinix Company Profile
Equinix, Inc (Equinix) connects businesses with partners and customers worldwide through a global platform of data centers. The Company connects approximately 4000 customers, across the Americas, Europe, Middle East and Africa (EMEA) and Asia-Pacific. Platform Equinix combines international business exchange (IBX) data centers, a global footprint and ecosystems.
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