GAM Holding AG Acquires 1,689 Shares of Equinix, Inc. (EQIX)
GAM Holding AG raised its position in Equinix, Inc. (NASDAQ:EQIX) by 85.2% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 3,672 shares of the financial services provider’s stock after buying an additional 1,689 shares during the period. GAM Holding AG’s holdings in Equinix were worth $1,576,000 at the end of the most recent reporting period.
Other institutional investors have also modified their holdings of the company. Creative Planning boosted its position in shares of Equinix by 63.6% in the first quarter. Creative Planning now owns 692 shares of the financial services provider’s stock worth $277,000 after buying an additional 269 shares in the last quarter. Nationwide Fund Advisors boosted its position in shares of Equinix by 9.3% in the first quarter. Nationwide Fund Advisors now owns 26,749 shares of the financial services provider’s stock worth $10,709,000 after buying an additional 2,280 shares in the last quarter. Janney Montgomery Scott LLC boosted its stake in Equinix by 1.6% in the first quarter. Janney Montgomery Scott LLC now owns 2,967 shares of the financial services provider’s stock worth $1,188,000 after buying an additional 47 shares during the period. State of New Jersey Common Pension Fund D boosted its stake in Equinix by 197.8% in the first quarter. State of New Jersey Common Pension Fund D now owns 20,100 shares of the financial services provider’s stock worth $8,047,000 after buying an additional 13,350 shares during the period. Finally, Wetherby Asset Management Inc. boosted its stake in Equinix by 12.9% in the first quarter. Wetherby Asset Management Inc. now owns 930 shares of the financial services provider’s stock worth $373,000 after buying an additional 106 shares during the period. 94.41% of the stock is currently owned by hedge funds and other institutional investors.
Equinix, Inc. (EQIX) opened at 465.67 on Thursday. Equinix, Inc. has a 1-year low of $314.55 and a 1-year high of $468.16.
Equinix (NASDAQ:EQIX) last issued its quarterly earnings results on Wednesday, August 2nd. The financial services provider reported $4.59 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $3.41 by $1.18. The firm had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.03 billion. Equinix had a net margin of 5.18% and a return on equity of 5.51%. Analysts predict that Equinix, Inc. will post $3.89 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 20th. Stockholders of record on Wednesday, August 23rd will be given a $2.00 dividend. The ex-dividend date of this dividend is Monday, August 21st. This represents a $8.00 dividend on an annualized basis and a dividend yield of 1.72%. Equinix’s dividend payout ratio (DPR) is currently 293.04%.
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A number of equities research analysts have recently weighed in on the company. BidaskClub raised Equinix from a “buy” rating to a “strong-buy” rating in a report on Thursday, August 24th. Barclays PLC reaffirmed an “equal weight” rating and set a $475.00 price target (up previously from $410.00) on shares of Equinix in a report on Thursday, August 3rd. Stifel Nicolaus reaffirmed a “buy” rating and set a $497.00 price target (up previously from $485.00) on shares of Equinix in a report on Thursday, August 3rd. Cowen and Company reaffirmed an “outperform” rating and set a $482.00 price target (up previously from $465.00) on shares of Equinix in a report on Thursday, August 3rd. Finally, Royal Bank Of Canada lifted their price target on Equinix from $470.00 to $505.00 and gave the company an “outperform” rating in a report on Monday, August 7th. Five investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $464.78.
In other news, CEO Stephen M. Smith sold 5,348 shares of the business’s stock in a transaction that occurred on Thursday, June 15th. The shares were sold at an average price of $432.60, for a total value of $2,313,544.80. Following the transaction, the chief executive officer now owns 18,967 shares in the company, valued at approximately $8,205,124.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Yau Tat Lee sold 5,875 shares of the business’s stock in a transaction that occurred on Wednesday, June 7th. The stock was sold at an average price of $438.70, for a total transaction of $2,577,362.50. Following the completion of the transaction, the insider now owns 5,485 shares in the company, valued at approximately $2,406,269.50. The disclosure for this sale can be found here. Insiders sold a total of 22,393 shares of company stock worth $9,843,276 in the last 90 days. Corporate insiders own 0.58% 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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