South Dakota Investment Council Has $3,133,000 Stake in Equinix, Inc. (EQIX)
South Dakota Investment Council maintained its stake in shares of Equinix, Inc. (NASDAQ:EQIX) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 7,300 shares of the financial services provider’s stock at the end of the 2nd quarter. South Dakota Investment Council’s holdings in Equinix were worth $3,133,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Wells Fargo & Company MN lifted its holdings in Equinix by 12.7% in the second quarter. Wells Fargo & Company MN now owns 431,880 shares of the financial services provider’s stock valued at $185,345,000 after acquiring an additional 48,560 shares during the period. Commonwealth Bank of Australia lifted its holdings in Equinix by 3.3% in the second quarter. Commonwealth Bank of Australia now owns 157,222 shares of the financial services provider’s stock valued at $67,472,000 after acquiring an additional 5,059 shares during the period. Tredje AP fonden lifted its holdings in Equinix by 32.3% in the second quarter. Tredje AP fonden now owns 6,389 shares of the financial services provider’s stock valued at $2,742,000 after acquiring an additional 1,560 shares during the period. WESPAC Advisors LLC lifted its holdings in Equinix by 61.6% in the second quarter. WESPAC Advisors LLC now owns 7,182 shares of the financial services provider’s stock valued at $3,082,000 after acquiring an additional 2,738 shares during the period. Finally, Bienville Capital Management LLC acquired a new stake in Equinix in the second quarter valued at $213,000. 94.41% of the stock is owned by hedge funds and other institutional investors.
Equinix, Inc. (EQIX) opened at 462.00 on Friday. The stock has a 50 day moving average price of $452.91 and a 200 day moving average price of $422.91. Equinix, Inc. has a 1-year low of $314.55 and a 1-year high of $470.44. The firm has a market capitalization of $36.01 billion, a price-to-earnings ratio of 169.67 and a beta of 0.56.
Equinix (NASDAQ:EQIX) last issued its earnings results on Wednesday, August 2nd. The financial services provider reported $4.59 earnings per share for the quarter, topping the consensus estimate of $3.41 by $1.18. Equinix had a return on equity of 5.51% and a net margin of 5.18%. The company had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.03 billion. Analysts predict that Equinix, Inc. will post $3.85 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 20th. Shareholders of record on Wednesday, August 23rd will be given a $2.00 dividend. This represents a $8.00 annualized dividend and a yield of 1.73%. The ex-dividend date is Monday, August 21st. Equinix’s payout ratio is currently 293.04%.
A number of equities research analysts have commented on EQIX shares. Morgan Stanley reissued an “equal weight” rating and issued a $409.00 target price (up previously from $374.00) on shares of Equinix in a report on Wednesday, May 17th. Nomura started coverage on Equinix in a report on Thursday, May 25th. They issued a “buy” rating and a $490.00 target price for the company. Instinet reissued a “buy” rating and issued a $490.00 target price on shares of Equinix in a report on Thursday, May 25th. Royal Bank Of Canada reissued a “buy” rating and issued a $470.00 target price on shares of Equinix in a report on Wednesday, May 31st. Finally, Canaccord Genuity reissued a “buy” rating and issued a $525.00 target price on shares of Equinix in a report on Monday, June 12th. Five investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $464.78.
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In other news, CEO Stephen M. Smith sold 5,348 shares of the company’s stock in a transaction dated Thursday, June 15th. The stock was sold at an average price of $432.60, for a total transaction of $2,313,544.80. Following the completion of the sale, the chief executive officer now owns 18,967 shares in the company, valued at approximately $8,205,124.20. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Keith D. Taylor sold 1,000 shares of the company’s stock in a transaction dated Tuesday, July 18th. The stock was sold at an average price of $436.12, for a total value of $436,120.00. Following the sale, the chief financial officer now owns 32,996 shares of the company’s stock, valued at approximately $14,390,215.52. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 17,059 shares of company stock worth $7,557,950. 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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