Investors Sell Shares of Equinix (EQIX) on Strength (EQIX)

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Investors sold shares of Equinix Inc (NASDAQ:EQIX) on strength during trading on Friday. $41.80 million flowed into the stock on the tick-up and $65.28 million flowed out of the stock on the tick-down, for a money net flow of $23.48 million out of the stock. Of all stocks tracked, Equinix had the 27th highest net out-flow for the day. Equinix traded up $2.66 for the day and closed at $414.31

A number of research analysts have weighed in on EQIX shares. Zacks Investment Research raised shares of Equinix from a “hold” rating to a “buy” rating and set a $480.00 price target on the stock in a research note on Tuesday, July 3rd. BidaskClub lowered shares of Equinix from a “buy” rating to a “hold” rating in a research note on Wednesday, July 18th. Credit Suisse Group set a $525.00 price target on shares of Equinix and gave the company a “buy” rating in a research note on Friday, July 6th. Cowen cut their price target on shares of Equinix from $546.00 to $494.00 and set an “outperform” rating on the stock in a research note on Thursday, June 21st. Finally, ValuEngine raised shares of Equinix from a “sell” rating to a “hold” rating in a research note on Tuesday, June 26th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and eighteen have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $510.45.

The company has a debt-to-equity ratio of 1.60, a quick ratio of 1.29 and a current ratio of 1.29. The firm has a market cap of $32.63 billion, a PE ratio of 22.36, a P/E/G ratio of 1.40 and a beta of 0.46.

Equinix (NASDAQ:EQIX) last posted its quarterly earnings data on Wednesday, August 8th. The financial services provider reported $0.85 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.93 by ($0.08). Equinix had a net margin of 5.71% and a return on equity of 7.22%. The business had revenue of $1.26 billion during the quarter, compared to analyst estimates of $1.26 billion. During the same quarter last year, the business earned $2.80 earnings per share. Equinix’s revenue for the quarter was up 18.3% on a year-over-year basis. On average, equities research analysts expect that Equinix Inc will post 18.58 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 19th. Stockholders of record on Wednesday, August 22nd were issued a $2.28 dividend. The ex-dividend date was Tuesday, August 21st. This represents a $9.12 dividend on an annualized basis and a dividend yield of 2.20%. Equinix’s dividend payout ratio (DPR) is presently 49.22%.

In other news, CFO Keith D. Taylor sold 2,000 shares of Equinix stock in a transaction that occurred on Monday, August 27th. The shares were sold at an average price of $431.65, for a total value of $863,300.00. Following the sale, the chief financial officer now directly owns 21,141 shares in the company, valued at $9,125,512.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Michael Earl Campbell sold 250 shares of Equinix stock in a transaction that occurred on Wednesday, August 15th. The shares were sold at an average price of $433.24, for a total transaction of $108,310.00. Following the completion of the sale, the insider now owns 1,427 shares in the company, valued at $618,233.48. The disclosure for this sale can be found here. Insiders sold 5,066 shares of company stock worth $2,192,513 over the last quarter. 0.51% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Huntington National Bank increased its holdings in Equinix by 22.1% during the third quarter. Huntington National Bank now owns 16,746 shares of the financial services provider’s stock worth $7,249,000 after buying an additional 3,035 shares during the last quarter. Aperio Group LLC increased its holdings in Equinix by 11.3% during the third quarter. Aperio Group LLC now owns 39,210 shares of the financial services provider’s stock worth $16,973,000 after buying an additional 3,984 shares during the last quarter. Global Retirement Partners LLC increased its holdings in Equinix by 17.9% during the third quarter. Global Retirement Partners LLC now owns 1,435 shares of the financial services provider’s stock worth $621,000 after buying an additional 218 shares during the last quarter. Nisa Investment Advisors LLC increased its holdings in Equinix by 40.9% during the third quarter. Nisa Investment Advisors LLC now owns 27,788 shares of the financial services provider’s stock worth $12,029,000 after buying an additional 8,065 shares during the last quarter. Finally, First Hawaiian Bank acquired a new position in Equinix during the third quarter worth $3,670,000.

About Equinix (NASDAQ:EQIX)

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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