WESPAC Advisors LLC Acquires 934 Shares of Equinix Inc. (EQIX)
WESPAC Advisors LLC increased its stake in shares of Equinix Inc. (NASDAQ:EQIX) by 18.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 6,127 shares of the company’s stock after buying an additional 934 shares during the period. Equinix accounts for about 2.5% of WESPAC Advisors LLC’s holdings, making the stock its 5th largest position. WESPAC Advisors LLC’s holdings in Equinix were worth $2,376,000 at the end of the most recent reporting period.
Several other institutional investors also recently made changes to their positions in the stock. Sarasin & Partners LLP boosted its position in shares of Equinix by 544.5% in the first quarter. Sarasin & Partners LLP now owns 614,062 shares of the company’s stock valued at $203,076,000 after buying an additional 518,792 shares during the last quarter. State Street Corp boosted its position in Equinix by 10.2% in the first quarter. State Street Corp now owns 2,746,386 shares of the company’s stock worth $908,250,000 after buying an additional 254,160 shares during the last quarter. BlackRock Institutional Trust Company N.A. boosted its position in Equinix by 12.9% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 2,024,917 shares of the company’s stock worth $669,660,000 after buying an additional 230,715 shares during the last quarter. Douglas Lane & Associates LLC acquired a new position in Equinix during the first quarter worth approximately $64,085,000. Finally, JPMorgan Chase & Co. boosted its position in Equinix by 19.9% in the first quarter. JPMorgan Chase & Co. now owns 980,242 shares of the company’s stock worth $324,175,000 after buying an additional 162,915 shares during the last quarter. Institutional investors own 99.86% of the company’s stock.
Equinix Inc. (NASDAQ:EQIX) traded up 0.54% during mid-day trading on Wednesday, hitting $356.91. 1,038,643 shares of the company’s stock were exchanged. Equinix Inc. has a 12 month low of $255.45 and a 12 month high of $391.07. The stock has a market cap of $25.37 billion, a PE ratio of 352.33 and a beta of 0.80. The stock’s 50 day moving average price is $366.48 and its 200-day moving average price is $354.12.
Equinix (NASDAQ:EQIX) last released its earnings results on Wednesday, August 3rd. The company reported $0.56 earnings per share for the quarter, missing the Zacks’ consensus estimate of $3.64 by $3.08. Equinix had a net margin of 2.07% and a return on equity of 6.02%. The company had revenue of $900.50 million for the quarter, compared to the consensus estimate of $893.99 million. During the same period in the prior year, the company earned $1.03 earnings per share. The firm’s revenue was up 35.3% on a year-over-year basis. Equities analysts expect that Equinix Inc. will post $14.93 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, September 14th. Stockholders of record on Wednesday, August 24th were given a dividend of $1.75 per share. This represents a $7.00 dividend on an annualized basis and a dividend yield of 1.96%. The ex-dividend date of this dividend was Monday, August 22nd. Equinix’s dividend payout ratio is currently 654.21%.
A number of research firms recently commented on EQIX. Zacks Investment Research upgraded 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. began coverage on Equinix in a report on Tuesday, July 5th. They set a “buy” rating and a $435.00 price target for the company. Jefferies Group reiterated a “buy” rating and set 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 report on Thursday, July 21st. They set a “buy” rating and a $445.00 price target for the company. Finally, Pacific Crest reiterated an “overweight” rating and set a $457.00 price target on shares of Equinix in a report on Monday, June 27th. Seven investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $392.38.
In related news, insider Karl Strohmeyer sold 2,143 shares of the firm’s stock in a transaction that occurred on Friday, September 2nd. The shares were sold at an average price of $369.76, for a total value of $792,395.68. Following the completion of the transaction, the insider now directly owns 2,550 shares of the company’s stock, valued at approximately $942,888. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Eric Schwartz sold 3,658 shares of the firm’s stock in a transaction that occurred on Monday, August 8th. The stock was sold at an average price of $362.65, for a total transaction of $1,326,573.70. Following the completion of the transaction, the insider now directly owns 4,733 shares of the company’s stock, valued at $1,716,422.45. The disclosure for this sale can be found here. Insiders own 0.69% of the company’s stock.
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.
Want to see what other hedge funds are holding EQIX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Equinix Inc. (NASDAQ:EQIX).
Receive News & Ratings for Equinix Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Equinix Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.