Kornitzer Capital Management Inc. KS Has $39,493,000 Position in Equinix Inc. (EQIX)
Kornitzer Capital Management Inc. KS cut its stake in shares of Equinix Inc. (NASDAQ:EQIX) by 3.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 101,857 shares of the company’s stock after selling 3,835 shares during the period. Equinix makes up approximately 0.7% of Kornitzer Capital Management Inc. KS’s holdings, making the stock its 28th largest position. Kornitzer Capital Management Inc. KS owned 0.15% of Equinix worth $39,493,000 at the end of the most recent quarter.
Several other large investors also recently added to or reduced their stakes in EQIX. IFP Advisors Inc raised its stake in 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 stake 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 in the last quarter. NN Investment Partners Holdings N.V. bought a new stake in Equinix during the first quarter valued at $142,000. Park Avenue Institutional Advisers LLC raised its stake 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 in the last quarter. Finally, Independent Portfolio Consultants Inc. bought a new stake in Equinix during the second quarter valued at $161,000. Institutional investors own 99.86% of the company’s stock.
Equinix Inc. (NASDAQ:EQIX) traded down 0.05% during mid-day trading on Friday, hitting $361.72. 286,852 shares of the company were exchanged. Equinix Inc. has a 12-month low of $255.45 and a 12-month high of $391.07. The company’s 50-day moving average is $361.70 and its 200 day moving average is $358.91. The company has a market capitalization of $25.71 billion, a P/E ratio of 357.08 and a beta of 0.79.
Equinix (NASDAQ:EQIX) last posted its earnings results on Wednesday, August 3rd. The company reported $0.56 earnings per share for the quarter, missing analysts’ consensus estimates of $3.64 by $3.08. The company had revenue of $900.50 million for the quarter, compared to the consensus estimate of $893.99 million. Equinix had a return on equity of 6.02% and a net margin of 2.07%. The business’s quarterly revenue was up 35.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.03 EPS. Analysts expect that Equinix Inc. will post $14.93 EPS for the current year.
EQIX has been the topic of several analyst reports. Barclays PLC upped their price objective on Equinix from $340.00 to $360.00 in a research note on Tuesday, June 21st. Jefferies Group reissued a “buy” rating and issued a $380.00 target price on shares of Equinix in a report on Wednesday, July 6th. Zacks Investment Research raised Equinix from a “hold” rating to a “buy” rating and set a $433.00 target price on the stock in a report on Tuesday, July 5th. Goldman Sachs Group Inc. initiated coverage on Equinix in a report on Tuesday, July 5th. They issued a “buy” rating and a $435.00 target price on the stock. Finally, Canaccord Genuity reissued a “buy” rating on shares of Equinix in a report on Sunday, June 26th. Seven research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. Equinix has an average rating of “Buy” and a consensus target price of $398.79.
In other news, insider Eric Schwartz sold 3,658 shares of Equinix stock in a transaction on Monday, August 8th. The shares were sold at an average price of $362.65, for a total transaction of $1,326,573.70. Following the transaction, the insider now owns 4,733 shares in the company, valued at $1,716,422.45. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Charles J. Meyers sold 200 shares of Equinix stock in a transaction on Monday, October 3rd. The stock was sold at an average price of $360.63, for a total transaction of $72,126.00. Following the transaction, the chief operating officer now owns 1,445 shares in the company, valued at approximately $521,110.35. The disclosure for this sale can be found here. Company insiders own 0.69% of the company’s stock.
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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