Equinix, Inc. (EQIX) Stake Increased by Geode Capital Management LLC

Geode Capital Management LLC increased its position in shares of Equinix, Inc. (NASDAQ:EQIX) by 19.0% during the first quarter, Holdings Channel reports. The institutional investor owned 766,462 shares of the financial services provider’s stock after buying an additional 122,554 shares during the period. Geode Capital Management LLC’s holdings in Equinix were worth $306,435,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Norges Bank bought a new position in Equinix during the fourth quarter worth $703,626,000. Vanguard Group Inc. raised its position in Equinix by 9.9% in the first quarter. Vanguard Group Inc. now owns 13,186,442 shares of the financial services provider’s stock worth $5,279,456,000 after buying an additional 1,192,961 shares in the last quarter. Bank of Montreal Can raised its position in Equinix by 398.9% in the first quarter. Bank of Montreal Can now owns 443,878 shares of the financial services provider’s stock worth $177,716,000 after buying an additional 354,909 shares in the last quarter. Canada Pension Plan Investment Board raised its position in Equinix by 840.2% in the first quarter. Canada Pension Plan Investment Board now owns 213,050 shares of the financial services provider’s stock worth $85,299,000 after buying an additional 190,391 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in Equinix by 18.5% in the first quarter. Bank of New York Mellon Corp now owns 1,216,203 shares of the financial services provider’s stock worth $486,931,000 after buying an additional 189,850 shares in the last quarter. Institutional investors own 97.25% of the company’s stock.

Institutional Ownership by Quarter for Equinix (NASDAQ:EQIX)

Shares of Equinix, Inc. (NASDAQ:EQIX) traded down 0.05% during trading on Tuesday, hitting $432.01. The stock had a trading volume of 157,987 shares. The firm has a market capitalization of $33.66 billion, a P/E ratio of 155.62 and a beta of 0.61. The stock’s 50-day moving average price is $432.52 and its 200 day moving average price is $392.22. Equinix, Inc. has a 1-year low of $314.55 and a 1-year high of $447.26.

Equinix (NASDAQ:EQIX) last posted its quarterly earnings data on Wednesday, April 26th. The financial services provider reported $4.14 EPS for the quarter, topping the consensus estimate of $3.20 by $0.94. The firm had revenue of $949.53 million during the quarter, compared to analyst estimates of $946.89 million. Equinix had a return on equity of 5.88% and a net margin of 5.38%. Equinix’s revenue was up 12.5% on a year-over-year basis. During the same period in the prior year, the business posted $1.68 EPS. On average, analysts anticipate that Equinix, Inc. will post $4.50 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 21st. Stockholders of record on Wednesday, May 24th will be paid a $2.00 dividend. The ex-dividend date of this dividend is Monday, May 22nd. This represents a $8.00 annualized dividend and a dividend yield of 1.85%. Equinix’s dividend payout ratio (DPR) is 286.74%.

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A number of brokerages recently commented on EQIX. Canaccord Genuity reiterated a “buy” rating and set a $525.00 price target on shares of Equinix in a report on Monday, June 12th. Royal Bank Of Canada reiterated a “buy” rating and set a $470.00 price target on shares of Equinix in a report on Wednesday, May 31st. Instinet reiterated a “buy” rating and set a $490.00 price target on shares of Equinix in a report on Thursday, May 25th. Zacks Investment Research upgraded Equinix from a “hold” rating to a “buy” rating and set a $423.00 price target on the stock in a report on Tuesday, March 7th. Finally, Nomura began coverage on Equinix in a report on Thursday, May 25th. They set a “buy” rating and a $490.00 price target on the stock. Five investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $452.20.

In other news, CFO Keith D. Taylor sold 2,500 shares of the company’s stock in a transaction on Monday, March 27th. The stock was sold at an average price of $383.64, for a total value of $959,100.00. Following the completion of the sale, the chief financial officer now directly owns 39,893 shares in the company, valued at approximately $15,304,550.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Yau Tat Lee sold 5,875 shares of the company’s stock in a transaction on Wednesday, June 7th. The stock was sold at an average price of $438.70, for a total value of $2,577,362.50. Following the completion of the sale, the insider now owns 5,485 shares of the company’s stock, valued at $2,406,269.50. The disclosure for this sale can be found here. Insiders sold a total of 23,402 shares of company stock valued at $9,851,928 over the last 90 days. 0.58% of the stock is currently owned by company 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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “NASDAQ:EQIX”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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).

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