Miles Capital Inc. Sells 32 Shares of Equinix Inc (NASDAQ:EQIX)

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Miles Capital Inc. cut its holdings in shares of Equinix Inc (NASDAQ:EQIX) by 2.6% in the 4th quarter, HoldingsChannel reports. The firm owned 1,198 shares of the financial services provider’s stock after selling 32 shares during the quarter. Miles Capital Inc.’s holdings in Equinix were worth $699,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also made changes to their positions in the company. Nuveen Asset Management LLC boosted its holdings in shares of Equinix by 195.3% in the second quarter. Nuveen Asset Management LLC now owns 1,038,360 shares of the financial services provider’s stock worth $523,634,000 after acquiring an additional 686,771 shares during the period. Waddell & Reed Financial Inc. bought a new position in shares of Equinix during the second quarter valued at about $94,127,000. State Street Corp grew its position in Equinix by 4.3% during the 3rd quarter. State Street Corp now owns 3,473,776 shares of the financial services provider’s stock worth $2,003,674,000 after acquiring an additional 144,231 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in shares of Equinix by 43.6% in the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 428,318 shares of the financial services provider’s stock worth $247,054,000 after purchasing an additional 130,121 shares during the last quarter. Finally, Pictet Asset Management Ltd. grew its holdings in Equinix by 16.5% in the 3rd quarter. Pictet Asset Management Ltd. now owns 759,710 shares of the financial services provider’s stock worth $438,201,000 after acquiring an additional 107,692 shares during the last quarter. 99.02% of the stock is owned by hedge funds and other institutional investors.

In related news, insider Karl Strohmeyer sold 6,055 shares of the business’s stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $592.52, for a total transaction of $3,587,708.60. Following the sale, the insider now owns 3,685 shares of the company’s stock, valued at $2,183,436.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Charles J. Meyers sold 5,562 shares of the company’s stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $592.53, for a total transaction of $3,295,651.86. Following the completion of the sale, the chief executive officer now owns 8,567 shares in the company, valued at approximately $5,076,204.51. The disclosure for this sale can be found here. Insiders sold a total of 17,998 shares of company stock worth $10,621,400 over the last ninety days. Insiders own 0.49% of the company’s stock.

A number of equities research analysts have recently weighed in on the company. Stifel Nicolaus reiterated a “buy” rating and issued a $620.00 price objective on shares of Equinix in a research report on Thursday, November 14th. Oppenheimer upped their target price on Equinix from $550.00 to $650.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. Morgan Stanley raised their price target on Equinix from $510.00 to $520.00 and gave the stock an “equal weight” rating in a research note on Tuesday, December 17th. Raymond James lifted their price target on shares of Equinix from $560.00 to $625.00 and gave the company a “strong-buy” rating in a report on Thursday, October 31st. Finally, Wells Fargo & Co reiterated an “outperform” rating and issued a $620.00 price target (up previously from $545.00) on shares of Equinix in a report on Thursday, October 31st. One analyst has rated the stock with a sell rating, four have assigned a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $574.56.

EQIX stock traded up $5.14 during midday trading on Tuesday, hitting $593.14. The stock had a trading volume of 7,310 shares, compared to its average volume of 292,531. The firm has a market cap of $47.64 billion, a price-to-earnings ratio of 100.46, a price-to-earnings-growth ratio of 1.95 and a beta of 0.66. The business has a 50-day moving average of $574.88 and a two-hundred day moving average of $554.34. Equinix Inc has a 52-week low of $357.35 and a 52-week high of $609.97. The company has a debt-to-equity ratio of 1.33, a current ratio of 1.55 and a quick ratio of 1.55.

Equinix (NASDAQ:EQIX) last announced its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $1.41 EPS for the quarter, missing the consensus estimate of $4.96 by ($3.55). Equinix had a net margin of 9.03% and a return on equity of 5.94%. The firm had revenue of $1.40 billion for the quarter, compared to analysts’ expectations of $1.41 billion. During the same period in the prior year, the business posted $1.55 EPS. The business’s quarterly revenue was up 8.8% compared to the same quarter last year. Research analysts predict that Equinix Inc will post 20.63 earnings per share for the current year.

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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