Wedbush Securities Inc. Grows Position in Equinix Inc (NASDAQ:EQIX)

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Wedbush Securities Inc. raised its holdings in shares of Equinix Inc (NASDAQ:EQIX) by 8.2% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 610 shares of the financial services provider’s stock after buying an additional 46 shares during the quarter. Wedbush Securities Inc.’s holdings in Equinix were worth $308,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Carroll Financial Associates Inc. grew its holdings in shares of Equinix by 63.6% during the second quarter. Carroll Financial Associates Inc. now owns 54 shares of the financial services provider’s stock worth $27,000 after buying an additional 21 shares in the last quarter. Meridian Wealth Management LLC purchased a new stake in shares of Equinix during the first quarter worth $28,000. Berman Capital Advisors LLC grew its holdings in shares of Equinix by 44.9% during the second quarter. Berman Capital Advisors LLC now owns 71 shares of the financial services provider’s stock worth $35,000 after buying an additional 22 shares in the last quarter. Focused Wealth Management Inc purchased a new stake in shares of Equinix during the second quarter worth $39,000. Finally, Thomas J. Herzfeld Advisors Inc. grew its holdings in shares of Equinix by 27.9% during the first quarter. Thomas J. Herzfeld Advisors Inc. now owns 110 shares of the financial services provider’s stock worth $50,000 after buying an additional 24 shares in the last quarter. 97.83% of the stock is owned by institutional investors and hedge funds.

A number of research firms have recently issued reports on EQIX. Zacks Investment Research raised shares of Equinix from a “sell” rating to a “hold” rating in a report on Wednesday, May 8th. Raymond James upped their target price on shares of Equinix from $520.00 to $560.00 and gave the stock a “strong-buy” rating in a report on Thursday, August 1st. UBS Group upped their target price on shares of Equinix from $510.00 to $560.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. BMO Capital Markets reissued a “buy” rating and issued a $520.00 price objective on shares of Equinix in a report on Tuesday, July 2nd. Finally, BidaskClub raised shares of Equinix from a “buy” rating to a “strong-buy” rating in a report on Saturday. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, seventeen have issued a buy rating and two have given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $527.21.

In other news, Director Camp Peter Van sold 3,191 shares of the stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $549.78, for a total transaction of $1,754,347.98. Following the sale, the director now owns 4,024 shares of the company’s stock, valued at $2,212,314.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Michael Earl Campbell sold 1,000 shares of the stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $543.75, for a total transaction of $543,750.00. Following the sale, the insider now directly owns 2,078 shares in the company, valued at approximately $1,129,912.50. The disclosure for this sale can be found here. Insiders sold 9,236 shares of company stock worth $4,867,938 in the last ninety days. 0.49% of the stock is currently owned by corporate insiders.

NASDAQ EQIX traded up $5.47 during trading hours on Friday, reaching $551.81. The company had a trading volume of 575,000 shares, compared to its average volume of 454,778. The stock has a 50-day moving average of $518.32 and a 200 day moving average of $473.27. Equinix Inc has a 1-year low of $335.29 and a 1-year high of $557.54. The company has a current ratio of 1.59, a quick ratio of 1.59 and a debt-to-equity ratio of 1.34. The stock has a market capitalization of $44.18 billion, a P/E ratio of 26.67, a price-to-earnings-growth ratio of 1.81 and a beta of 0.73.

Equinix (NASDAQ:EQIX) last posted its earnings results on Wednesday, July 31st. The financial services provider reported $1.69 EPS for the quarter, missing the Zacks’ consensus estimate of $5.14 by ($3.45). Equinix had a net margin of 9.29% and a return on equity of 6.29%. The company had revenue of $1.38 billion during the quarter, compared to analyst estimates of $1.39 billion. During the same period in the previous year, the company earned $3.63 EPS. The company’s quarterly revenue was up 9.8% compared to the same quarter last year. As a group, sell-side analysts predict that Equinix Inc will post 20.7 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 18th. Shareholders of record on Wednesday, August 21st will be given a $2.46 dividend. The ex-dividend date is Tuesday, August 20th. This represents a $9.84 dividend on an annualized basis and a yield of 1.78%. Equinix’s payout ratio is currently 47.56%.

About Equinix

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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Institutional Ownership by Quarter for Equinix (NASDAQ:EQIX)

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