Equinix, Inc. $EQIX Position Cut by CenterBook Partners LP

CenterBook Partners LP lowered its holdings in Equinix, Inc. (NASDAQ:EQIX) by 71.5% in the third quarter, Holdings Channel.com reports. The fund owned 722 shares of the financial services provider’s stock after selling 1,810 shares during the quarter. CenterBook Partners LP’s holdings in Equinix were worth $730,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in EQIX. BlackRock Inc. purchased a new stake in Equinix during the second quarter worth about $11,930,074,000. Principal Financial Group Inc. lifted its position in shares of Equinix by 1.4% during the 1st quarter. Principal Financial Group Inc. now owns 1,980,497 shares of the financial services provider’s stock valued at $1,941,377,000 after acquiring an additional 27,643 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Equinix by 26,831.6% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,239,122 shares of the financial services provider’s stock valued at $1,291,648,000 after acquiring an additional 1,234,521 shares during the period. Legal & General Group Plc purchased a new stake in shares of Equinix during the 2nd quarter worth approximately $1,181,260,000. Finally, Canada Pension Plan Investment Board purchased a new stake in shares of Equinix during the 2nd quarter worth approximately $1,163,662,000. 94.94% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

EQIX has been the topic of a number of research reports. TD Cowen upped their price target on Equinix from $1,166.00 to $1,210.00 and gave the stock a “buy” rating in a report on Thursday, October 29th. BMO Capital Markets reaffirmed an “outperform” rating and set a $1,250.00 price objective on shares of Equinix in a report on Monday, November 2nd. Mizuho set a $1,275.00 target price on Equinix in a research report on Thursday, October 29th. HSBC lowered their target price on Equinix from $1,400.00 to $1,380.00 and set a “buy” rating on the stock in a report on Wednesday, September 23rd. Finally, Raymond James Financial restated a “strong-buy” rating and issued a $1,250.00 price target on shares of Equinix in a research report on Thursday, October 29th. Two analysts have rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $1,234.13.

Equinix Stock Down 0.4%

EQIX stock opened at $1,050.00 on Wednesday. The company has a debt-to-equity ratio of 1.59, a current ratio of 1.29 and a quick ratio of 1.29. The company’s 50 day simple moving average is $1,016.98 and its 200-day simple moving average is $1,015.90. Equinix, Inc. has a 12 month low of $720.62 and a 12 month high of $1,128.68. The firm has a market capitalization of $103.60 billion, a PE ratio of 24.45, a P/E/G ratio of 1.48 and a beta of 0.98.

Equinix (NASDAQ:EQIX) last issued its quarterly earnings data on Wednesday, October 28th. The financial services provider reported $4.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.11 by $0.82. Equinix had a return on equity of 11.49% and a net margin of 16.38%. The firm had revenue of $2.57 billion during the quarter, compared to the consensus estimate of $2.56 billion. During the same period in the previous year, the firm posted $9.83 EPS. The company’s quarterly revenue was up 11.0% compared to the same quarter last year. Equities analysts expect that Equinix, Inc. will post 39.01 earnings per share for the current fiscal year.

Equinix Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 16th. Shareholders of record on Wednesday, November 18th will be issued a dividend of $5.16 per share. This represents a $20.64 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date is Wednesday, November 18th. Equinix’s dividend payout ratio is 123.96%.

Insiders Place Their Bets

In other news, insider Kurt Pletcher sold 198 shares of the business’s stock in a transaction on Friday, November 6th. The stock was sold at an average price of $1,014.18, for a total value of $200,807.64. Following the completion of the transaction, the insider directly owned 3,879 shares of the company’s stock, valued at $3,934,004.22. The trade was a 4.86% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Christopher Paisley sold 125 shares of the business’s stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $1,103.58, for a total value of $137,947.50. Following the completion of the transaction, the director directly owned 13,734 shares of the company’s stock, valued at approximately $15,156,567.72. This trade represents a 0.90% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 968 shares of company stock valued at $1,007,885. Corporate insiders own 0.27% of the company’s stock.

About Equinix

Equinix, Inc. is a global digital infrastructure company that operates data centers where businesses can house their computing and networking equipment. Its colocation services support organizations seeking secure, reliable facilities for their IT systems. The company also provides interconnection services that enable customers to connect with cloud providers, networks, business partners and one another. Its Equinix Fabric platform offers software-defined connectivity, while its xScale facilities are designed to serve large-scale cloud and technology companies.