Coatue Management LLC Sells 1,558 Shares of Equinix, Inc. (EQIX)
Coatue Management LLC trimmed its holdings in shares of Equinix, Inc. (NASDAQ:EQIX) by 0.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 530,558 shares of the financial services provider’s stock after selling 1,558 shares during the period. Equinix comprises about 2.1% of Coatue Management LLC’s portfolio, making the stock its 20th largest position. Coatue Management LLC owned approximately 0.68% of Equinix worth $227,694,000 at the end of the most recent quarter.
A number of other institutional investors have also modified their holdings of EQIX. Suntrust Banks Inc. grew its holdings in Equinix by 8.4% during the 1st quarter. Suntrust Banks Inc. now owns 1,533 shares of the financial services provider’s stock worth $613,000 after acquiring an additional 119 shares in the last quarter. UBS Asset Management Americas Inc. grew its holdings in Equinix by 23.0% during the 1st quarter. UBS Asset Management Americas Inc. now owns 206,694 shares of the financial services provider’s stock worth $82,754,000 after acquiring an additional 38,696 shares in the last quarter. Resolution Capital Ltd grew its holdings in Equinix by 38.3% during the 1st quarter. Resolution Capital Ltd now owns 537,083 shares of the financial services provider’s stock worth $215,032,000 after acquiring an additional 148,751 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new position in Equinix during the 1st quarter worth about $486,000. Finally, Keybank National Association OH grew its holdings in Equinix by 1.8% during the 1st quarter. Keybank National Association OH now owns 1,554 shares of the financial services provider’s stock worth $622,000 after acquiring an additional 27 shares in the last quarter. Institutional investors own 94.36% of the company’s stock.
Shares of Equinix, Inc. (EQIX) traded up 0.15% during trading on Thursday, hitting $449.93. 116,348 shares of the company traded hands. Equinix, Inc. has a 52-week low of $314.55 and a 52-week high of $475.28.
Equinix (NASDAQ:EQIX) last announced its quarterly earnings data on Wednesday, August 2nd. The financial services provider reported $4.59 EPS for the quarter, topping the Zacks’ 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 business had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.03 billion. Equities analysts predict that Equinix, Inc. will post $3.85 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 20th. Stockholders of record on Wednesday, August 23rd were given a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a dividend yield of 1.78%. The ex-dividend date was Monday, August 21st. Equinix’s dividend payout ratio is presently 293.04%.
In related news, CFO Keith D. Taylor sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 18th. The stock was sold at an average price of $436.12, for a total value of $436,120.00. Following the completion of the transaction, the chief financial officer now directly owns 32,996 shares of the company’s stock, valued at $14,390,215.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Michael Earl Campbell sold 1,427 shares of the company’s stock in a transaction that occurred on Tuesday, September 5th. The shares were sold at an average price of $459.75, for a total value of $656,063.25. The disclosure for this sale can be found here. Over the last three months, insiders have sold 11,711 shares of company stock valued at $5,244,405. Corporate insiders own 0.58% of the company’s stock.
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EQIX has been the topic of several recent research reports. Canaccord Genuity reiterated a “buy” rating and set a $525.00 target price on shares of Equinix in a report on Monday, June 12th. Royal Bank Of Canada reiterated a “buy” rating and set a $470.00 target price on shares of Equinix in a report on Wednesday, May 31st. Instinet reiterated a “buy” rating and set a $490.00 target price on shares of Equinix in a report on Thursday, May 25th. Nomura initiated coverage on shares of Equinix in a report on Thursday, May 25th. They set a “buy” rating and a $490.00 target price on the stock. Finally, BidaskClub cut shares of Equinix from a “strong-buy” rating to a “buy” rating in a report on Friday, June 30th. Five 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 company’s stock. The stock has an average rating of “Buy” and an average target price of $464.78.
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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