Parkwood LLC Decreases Stake in Equinix Inc. (EQIX)
Parkwood LLC lowered its stake in Equinix Inc. (NASDAQ:EQIX) by 69.8% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 1,203 shares of the company’s stock after selling 2,785 shares during the period. Parkwood LLC’s holdings in Equinix were worth $466,000 as of its most recent SEC filing.
Other institutional investors have also recently modified their holdings of the company. Heitman Real Estate Securities LLC boosted its position in Equinix by 32.4% in the first quarter. Heitman Real Estate Securities LLC now owns 390,178 shares of the company’s stock worth $129,036,000 after buying an additional 95,498 shares during the period. Allen Investment Management LLC boosted its position in Equinix by 2.8% in the first quarter. Allen Investment Management LLC now owns 181,596 shares of the company’s stock worth $60,056,000 after buying an additional 4,987 shares during the period. Legal & General Group Plc boosted its position in Equinix by 8.2% in the first quarter. Legal & General Group Plc now owns 283,092 shares of the company’s stock worth $93,620,000 after buying an additional 21,437 shares during the period. Zurich Insurance Group Ltd FI bought a new position in Equinix during the first quarter worth $5,076,000. Finally, Aviva PLC boosted its position in Equinix by 37.2% in the first quarter. Aviva PLC now owns 40,886 shares of the company’s stock worth $13,521,000 after buying an additional 11,078 shares during the period. 99.86% of the stock is owned by hedge funds and other institutional investors.
Shares of Equinix Inc. (NASDAQ:EQIX) traded down 0.99% during mid-day trading on Friday, reaching $358.21. The company’s stock had a trading volume of 1,050,412 shares. Equinix Inc. has a 12 month low of $255.45 and a 12 month high of $391.07. The stock has a market capitalization of $25.46 billion, a P/E ratio of 353.61 and a beta of 0.80. The company has a 50 day moving average price of $369.15 and a 200 day moving average price of $351.29.
Equinix (NASDAQ:EQIX) last announced its quarterly earnings data on Wednesday, August 3rd. The company reported $0.56 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $3.64 by $3.08. Equinix had a return on equity of 6.02% and a net margin of 2.07%. The firm had revenue of $900.50 million for the quarter, compared to analysts’ expectations of $893.99 million. During the same quarter in the prior year, the business posted $1.03 earnings per share. Equinix’s revenue was up 35.3% on a year-over-year basis. On average, equities research analysts anticipate that Equinix Inc. will post $14.93 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 14th. Investors of record on Wednesday, August 24th were issued a dividend of $1.75 per share. The ex-dividend date of this dividend was Monday, August 22nd. This represents a $7.00 annualized dividend and a dividend yield of 1.95%. Equinix’s dividend payout ratio is 654.21%.
A number of equities analysts have recently weighed in on the company. Zacks Investment Research raised Equinix from a “hold” rating to a “buy” rating and set a $433.00 price target for the company in a report on Tuesday, July 5th. Goldman Sachs Group Inc. assumed coverage on Equinix in a report on Tuesday, July 5th. They issued a “buy” rating and a $435.00 price target for the company. Jefferies Group reissued a “buy” rating and issued a $380.00 price target on shares of Equinix in a report on Wednesday, July 6th. SunTrust Banks Inc. began coverage on Equinix in a research report on Thursday, July 21st. They issued a “buy” rating and a $445.00 price objective for the company. Finally, Canaccord Genuity reaffirmed a “buy” rating on shares of Equinix in a research report on Sunday, June 26th. Seven equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $392.38.
In other Equinix news, COO Charles J. Meyers sold 200 shares of the stock in a transaction on Monday, August 8th. The shares were sold at an average price of $364.90, for a total transaction of $72,980.00. Following the transaction, the chief operating officer now directly owns 1,845 shares of the company’s stock, valued at $673,240.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Eric Schwartz sold 86 shares of the stock in a transaction on Monday, August 15th. The stock was sold at an average price of $368.76, for a total transaction of $31,713.36. The disclosure for this sale can be found here. Corporate insiders own 0.69% 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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