Strs Ohio Has $78.23 Million Position in Equinix, Inc. (EQIX)
Strs Ohio increased its holdings in Equinix, Inc. (NASDAQ:EQIX) by 1.5% during the fourth quarter, HoldingsChannel.com reports. The firm owned 172,617 shares of the financial services provider’s stock after acquiring an additional 2,479 shares during the quarter. Strs Ohio’s holdings in Equinix were worth $78,233,000 at the end of the most recent quarter.
Other large investors have also modified their holdings of the company. Zions Bancorporation raised its position in Equinix by 2,550.0% in the 3rd quarter. Zions Bancorporation now owns 265 shares of the financial services provider’s stock worth $118,000 after purchasing an additional 255 shares during the period. San Francisco Sentry Investment Group CA purchased a new position in shares of Equinix in the second quarter valued at about $127,000. Amica Retiree Medical Trust purchased a new position in shares of Equinix in the third quarter valued at about $188,000. Commerce Bank purchased a new position in shares of Equinix in the third quarter valued at about $203,000. Finally, Ithaka Group LLC purchased a new position in shares of Equinix in the third quarter valued at about $223,000. Institutional investors own 94.07% of the company’s stock.
In related news, CFO Keith D. Taylor sold 1,500 shares of the business’s stock in a transaction dated Friday, October 27th. The shares were sold at an average price of $455.42, for a total transaction of $683,130.00. Following the sale, the chief financial officer now owns 29,596 shares of the company’s stock, valued at $13,478,610.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Stephen M. Smith sold 10,706 shares of the business’s stock in a transaction dated Wednesday, January 17th. The stock was sold at an average price of $443.10, for a total transaction of $4,743,828.60. The disclosure for this sale can be found here. Insiders have sold a total of 23,110 shares of company stock worth $10,382,238 in the last ninety days. Insiders own 0.58% of the company’s stock.
Equinix (NASDAQ:EQIX) last announced its earnings results on Wednesday, November 1st. The financial services provider reported $3.63 earnings per share for the quarter, beating analysts’ consensus estimates of $1.39 by $2.24. The firm had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.14 billion. Equinix had a net margin of 5.58% and a return on equity of 5.59%. The company’s revenue for the quarter was up 24.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.95 EPS. sell-side analysts expect that Equinix, Inc. will post 16.11 earnings per share for the current fiscal year.
EQIX has been the topic of a number of analyst reports. Cowen restated a “buy” rating and issued a $482.00 price objective on shares of Equinix in a research report on Friday, November 10th. Barclays upgraded shares of Equinix from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $475.00 to $505.00 in a research report on Wednesday, October 18th. Credit Suisse Group set a $515.00 price objective on shares of Equinix and gave the company a “buy” rating in a research report on Tuesday, December 12th. UBS Group initiated coverage on shares of Equinix in a research report on Wednesday, October 18th. They issued a “neutral” rating on the stock. Finally, Oppenheimer boosted their price objective on shares of Equinix to $525.00 and gave the company an “outperform” rating in a research report on Friday, December 22nd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and eighteen have given a buy rating to the company’s stock. Equinix currently has an average rating of “Buy” and a consensus target price of $504.00.
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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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