Bokf Na cut its stake in shares of Equinix Inc (NASDAQ:EQIX) by 3.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,877 shares of the financial services provider’s stock after selling 61 shares during the quarter. Bokf Na’s holdings in Equinix were worth $662,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Farmers & Merchants Investments Inc. boosted its stake in Equinix by 174.2% during the fourth quarter. Farmers & Merchants Investments Inc. now owns 85 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 54 shares in the last quarter. Rehmann Capital Advisory Group lifted its stake in shares of 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 buying an additional 54 shares in the last quarter. Pearl River Capital LLC bought a new position in shares of Equinix in the fourth quarter valued at $35,000. Proficio Capital Partners LLC lifted its stake in shares of 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 buying an additional 63 shares in the last quarter. Finally, Lindbrook Capital LLC bought a new position in shares of Equinix in the fourth quarter valued at $47,000. 97.74% of the stock is currently owned by institutional investors and hedge funds.
A number of research firms have weighed in on EQIX. Zacks Investment Research raised shares of Equinix from a “hold” rating to a “strong-buy” rating and set a $484.00 price objective on the stock in a research note on Monday, February 18th. BidaskClub raised shares of Equinix from a “hold” rating to a “buy” rating in a research note on Tuesday, December 18th. Citigroup raised their price objective on shares of Equinix from $481.00 to $482.00 and gave the company a “buy” rating in a research note on Friday, March 1st. Berenberg Bank began coverage on shares of Equinix in a research note on Tuesday, January 8th. They issued a “buy” rating and a $477.00 price objective on the stock. Finally, Credit Suisse Group raised their price objective on shares of Equinix from $467.00 to $474.00 and gave the company an “outperform” rating in a research note on Thursday, February 14th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Buy” and an average target price of $496.08.
Equinix (NASDAQ:EQIX) last announced its earnings results on Wednesday, February 13th. The financial services provider reported $1.36 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $4.46 by ($3.10). The firm had revenue of $1.31 billion during the quarter, compared to analysts’ expectations of $1.31 billion. Equinix had a net margin of 7.20% and a return on equity of 6.88%. The business’s revenue for the quarter was up 9.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.82 EPS. On average, equities research analysts anticipate that Equinix Inc will post 20.89 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 20th. Stockholders of record on Wednesday, February 27th will be issued a $2.46 dividend. The ex-dividend date is Tuesday, February 26th. This represents a $9.84 annualized dividend and a dividend yield of 2.22%. This is an increase from Equinix’s previous quarterly dividend of $2.28. Equinix’s dividend payout ratio is currently 47.56%.
In other news, insider Michael Earl Campbell sold 962 shares of the stock in a transaction dated Wednesday, January 16th. The shares were sold at an average price of $381.29, for a total value of $366,800.98. Following the completion of the sale, the insider now owns 1,753 shares in the company, valued at $668,401.37. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Charles J. Meyers sold 5,648 shares of the stock in a transaction dated Wednesday, January 16th. The shares were sold at an average price of $380.97, for a total transaction of $2,151,718.56. Following the completion of the sale, the chief executive officer now owns 5,750 shares of the company’s stock, valued at approximately $2,190,577.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 28,013 shares of company stock valued at $11,482,578. 0.51% of the stock is currently owned by corporate insiders.
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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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