Standard Life Investments LTD Decreases Position in Equinix Inc. (EQIX)
Standard Life Investments LTD decreased its stake in shares of Equinix Inc. (NASDAQ:EQIX) by 10.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 790,077 shares of the company’s stock after selling 91,313 shares during the period. Equinix accounts for approximately 1.4% of Standard Life Investments LTD’s portfolio, making the stock its 24th largest position. Standard Life Investments LTD owned approximately 1.14% of Equinix worth $306,388,000 as of its most recent filing with the SEC.
Other institutional investors have also recently made changes to their positions in the company. IFP Advisors Inc raised its position in shares of Equinix by 0.6% in the first quarter. IFP Advisors Inc now owns 310 shares of the company’s stock valued at $103,000 after buying an additional 2 shares in the last quarter. Integrated Investment Consultants LLC raised its position in Equinix by 5.6% in the second quarter. Integrated Investment Consultants LLC now owns 284 shares of the company’s stock valued at $110,000 after buying an additional 15 shares during the period. NN Investment Partners Holdings N.V. bought a new position in Equinix during the first quarter valued at about $142,000. Park Avenue Institutional Advisers LLC raised its position in Equinix by 7.7% in the first quarter. Park Avenue Institutional Advisers LLC now owns 432 shares of the company’s stock valued at $143,000 after buying an additional 31 shares during the period. Finally, Independent Portfolio Consultants Inc. bought a new position in Equinix during the second quarter valued at about $161,000. Hedge funds and other institutional investors own 99.86% of the company’s stock.
Equinix Inc. (NASDAQ:EQIX) traded down 1.13% during mid-day trading on Monday, hitting $356.19. The stock had a trading volume of 449,494 shares. The stock has a 50-day moving average price of $364.94 and a 200 day moving average price of $356.52. The firm has a market cap of $25.32 billion, a P/E ratio of 351.62 and a beta of 0.79. Equinix Inc. has a 12-month low of $255.45 and a 12-month high of $391.07.
Equinix (NASDAQ:EQIX) last posted its quarterly earnings results on Wednesday, August 3rd. The company reported $0.56 EPS for the quarter, missing the consensus estimate of $3.64 by $3.08. The business earned $900.50 million during the quarter, compared to analyst estimates of $893.99 million. Equinix had a net margin of 2.07% and a return on equity of 6.02%. The firm’s quarterly revenue was up 35.3% compared to the same quarter last year. During the same period in the prior year, the business earned $1.03 earnings per share. Equities analysts anticipate that Equinix Inc. will post $14.93 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 14th. Stockholders of record on Wednesday, August 24th were issued a $1.75 dividend. The ex-dividend date of this dividend was Monday, August 22nd. This represents a $7.00 annualized dividend and a dividend yield of 1.97%. Equinix’s dividend payout ratio is currently 654.21%.
Several research firms have issued reports on EQIX. Barclays PLC lifted their target price on Equinix from $360.00 to $372.00 and gave the company an “equal weight” rating in a research note on Thursday, August 4th. Citigroup Inc. lifted their target price on Equinix from $391.00 to $400.00 and gave the company a “neutral” rating in a research note on Thursday, August 4th. William Blair reiterated a “buy” rating on shares of Equinix in a research note on Sunday, June 26th. Canaccord Genuity reiterated a “buy” rating on shares of Equinix in a research note on Sunday, June 26th. Finally, Jefferies Group reiterated a “hold” rating on shares of Equinix in a research note on Saturday, August 6th. Seven analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $398.79.
In related news, COO Charles J. Meyers sold 200 shares of the firm’s stock in a transaction that occurred on Monday, August 8th. The stock was sold at an average price of $364.90, for a total value of $72,980.00. Following the completion of the transaction, the chief operating officer now directly owns 1,845 shares of the company’s stock, valued at approximately $673,240.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Sara Baack sold 300 shares of the firm’s stock in a transaction that occurred on Thursday, September 15th. The shares were sold at an average price of $353.96, for a total value of $106,188.00. Following the completion of the transaction, the insider now directly owns 6,004 shares of the company’s stock, valued at $2,125,175.84. The disclosure for this sale can be found here. 0.69% of the stock is owned by insiders.
Equinix Company Profile
Equinix, Inc (Equinix) connects businesses with partners and customers worldwide through a global platform of data centers. The Company connects approximately 4000 customers, across the Americas, Europe, Middle East and Africa (EMEA) and Asia-Pacific. Platform Equinix combines international business exchange (IBX) data centers, a global footprint and ecosystems.
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