Sun Life Financial INC lessened its position in shares of Equinix Inc (NASDAQ:EQIX) by 52.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 67 shares of the financial services provider’s stock after selling 74 shares during the period. Sun Life Financial INC’s holdings in Equinix were worth $34,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also recently bought and sold shares of the company. TCW Group Inc. raised its holdings in Equinix by 2.2% in the 1st quarter. TCW Group Inc. now owns 346,190 shares of the financial services provider’s stock worth $156,879,000 after purchasing an additional 7,499 shares in the last quarter. NuWave Investment Management LLC purchased a new stake in shares of Equinix during the 2nd quarter valued at about $108,000. Landsberg Bennett & Dubbaneh LLC boosted its holdings in shares of Equinix by 43.7% during the 2nd quarter. Landsberg Bennett & Dubbaneh LLC now owns 2,926 shares of the financial services provider’s stock valued at $1,477,000 after acquiring an additional 890 shares during the last quarter. American Investment Services Inc. purchased a new stake in shares of Equinix during the 1st quarter valued at about $774,000. Finally, Sumitomo Mitsui Asset Management Company LTD boosted its holdings in shares of Equinix by 8.3% during the 1st quarter. Sumitomo Mitsui Asset Management Company LTD now owns 5,641 shares of the financial services provider’s stock valued at $2,556,000 after acquiring an additional 434 shares during the last quarter. 95.48% of the stock is currently owned by institutional investors and hedge funds.
A number of analysts have recently issued reports on EQIX shares. Guggenheim raised their price target on shares of Equinix from $505.00 to $540.00 and gave the company a “sell” rating in a report on Tuesday, July 2nd. Zacks Investment Research raised shares of Equinix from a “sell” rating to a “hold” rating in a report on Wednesday, May 8th. UBS Group raised their price objective on shares of Equinix from $510.00 to $560.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Deutsche Bank raised their price objective on shares of Equinix from $480.00 to $500.00 and gave the stock a “buy” rating in a report on Thursday, May 9th. Finally, BidaskClub raised shares of Equinix from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 17th. One research analyst has rated the stock with a sell rating, two have given a hold rating, seventeen have assigned a buy rating and two have given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $527.21.
Equinix (NASDAQ:EQIX) last released its earnings results on Wednesday, July 31st. The financial services provider reported $1.69 EPS for the quarter, missing analysts’ consensus estimates of $5.14 by ($3.45). Equinix had a return on equity of 6.29% and a net margin of 9.29%. The firm had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.39 billion. During the same quarter in the previous year, the business posted $3.63 EPS. Equinix’s revenue was up 9.8% on a year-over-year basis. Analysts expect that Equinix Inc will post 20.7 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 18th. Shareholders of record on Wednesday, August 21st will be paid a dividend of $2.46 per share. This represents a $9.84 dividend on an annualized basis and a yield of 1.77%. The ex-dividend date is Tuesday, August 20th. Equinix’s payout ratio is 47.56%.
In other news, Director Camp Peter Van sold 3,191 shares of Equinix stock in a transaction that occurred on 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 in the company, valued at $2,212,314.72. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Christopher B. Paisley sold 200 shares of Equinix stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $551.24, for a total transaction of $110,248.00. The disclosure for this sale can be found here. In 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, 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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