Jennison Associates LLC Purchases 678 Shares of Equinix Inc (NASDAQ:EQIX)

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Jennison Associates LLC raised its position in shares of Equinix Inc (NASDAQ:EQIX) by 0.3% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 211,911 shares of the financial services provider’s stock after purchasing an additional 678 shares during the period. Jennison Associates LLC owned about 0.26% of Equinix worth $106,865,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of EQIX. BlackRock Inc. raised its position in Equinix by 10.6% during the 1st quarter. BlackRock Inc. now owns 6,584,484 shares of the financial services provider’s stock valued at $2,983,823,000 after purchasing an additional 632,328 shares in the last quarter. Daiwa Securities Group Inc. increased its holdings in shares of Equinix by 23.6% in the 1st quarter. Daiwa Securities Group Inc. now owns 1,314,451 shares of the financial services provider’s stock valued at $595,656,000 after acquiring an additional 250,921 shares during the period. Pictet Asset Management Ltd. increased its holdings in shares of Equinix by 24.2% in the 1st quarter. Pictet Asset Management Ltd. now owns 628,200 shares of the financial services provider’s stock valued at $284,675,000 after acquiring an additional 122,286 shares during the period. Clearbridge Investments LLC increased its holdings in shares of Equinix by 10.2% in the 1st quarter. Clearbridge Investments LLC now owns 1,219,458 shares of the financial services provider’s stock valued at $552,610,000 after acquiring an additional 112,564 shares during the period. Finally, American Century Companies Inc. increased its holdings in shares of Equinix by 11.7% in the 1st quarter. American Century Companies Inc. now owns 1,046,494 shares of the financial services provider’s stock valued at $474,229,000 after acquiring an additional 109,404 shares during the period. 95.48% of the stock is owned by institutional investors and hedge funds.

EQIX stock traded down $5.00 on Friday, hitting $549.42. 244,486 shares of the company’s stock were exchanged, compared to its average volume of 449,146. Equinix Inc has a 12-month low of $335.29 and a 12-month high of $559.32. The firm has a 50 day moving average price of $524.36 and a two-hundred day moving average price of $477.59. The company has a debt-to-equity ratio of 1.34, a quick ratio of 1.59 and a current ratio of 1.59. The stock has a market cap of $44.83 billion, a P/E ratio of 26.55, a price-to-earnings-growth ratio of 1.84 and a beta of 0.73.

Equinix (NASDAQ:EQIX) last announced its earnings results on Wednesday, July 31st. The financial services provider reported $1.69 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $5.14 by ($3.45). Equinix had a return on equity of 6.29% and a net margin of 9.29%. The business had revenue of $1.38 billion for the quarter, compared to analysts’ expectations of $1.39 billion. During the same quarter last year, the firm earned $3.63 earnings per share. The firm’s quarterly revenue was up 9.8% compared to the same quarter last year. Sell-side analysts expect that Equinix Inc will post 20.7 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 18th. Investors of record on Wednesday, August 21st will be paid a dividend of $2.46 per share. The ex-dividend date of this dividend is Tuesday, August 20th. This represents a $9.84 annualized dividend and a yield of 1.79%. Equinix’s dividend payout ratio (DPR) is 47.56%.

A number of research analysts have recently issued reports on the company. JPMorgan Chase & Co. lifted their price target on Equinix from $524.00 to $580.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. Guggenheim lifted their price target on Equinix from $505.00 to $540.00 and gave the company a “sell” rating in a report on Tuesday, July 2nd. Deutsche Bank lifted their price target on Equinix from $480.00 to $500.00 and gave the company a “buy” rating in a report on Thursday, May 9th. Citigroup lifted their price target on Equinix from $508.00 to $527.00 and gave the company a “buy” rating in a report on Thursday, May 2nd. Finally, Raymond James lifted their price target on Equinix from $520.00 to $560.00 and gave the company a “strong-buy” rating in a report on Thursday, August 1st. 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 stock. The company has a consensus rating of “Buy” and a consensus target price of $527.21.

In other Equinix news, CAO Simon Miller sold 385 shares of the business’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $516.27, for a total transaction of $198,763.95. Following the sale, the chief accounting officer now owns 689 shares in the company, valued at approximately $355,710.03. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Camp Peter Van sold 3,191 shares of the business’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $549.78, for a total value of $1,754,347.98. Following the sale, the director now owns 4,024 shares in the company, valued at approximately $2,212,314.72. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 7,986 shares of company stock worth $4,267,022. 0.49% of the stock is owned by company insiders.

Equinix Company Profile

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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