Equinix, Inc. (EQIX) Shares Sold by Allen Investment Management LLC
Allen Investment Management LLC cut its stake in shares of Equinix, Inc. (NASDAQ:EQIX) by 1.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 168,728 shares of the financial services provider’s stock after selling 1,651 shares during the period. Equinix makes up 4.1% of Allen Investment Management LLC’s portfolio, making the stock its 11th largest position. Allen Investment Management LLC’s holdings in Equinix were worth $67,554,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Commerzbank Aktiengesellschaft FI purchased a new position in shares of Equinix during the fourth quarter valued at $368,000. Brown Advisory Inc. increased its position in shares of Equinix by 5.4% in the fourth quarter. Brown Advisory Inc. now owns 883 shares of the financial services provider’s stock valued at $315,000 after buying an additional 45 shares during the period. GLG LLC increased its position in shares of Equinix by 44.1% in the fourth quarter. GLG LLC now owns 4,123 shares of the financial services provider’s stock valued at $1,474,000 after buying an additional 1,262 shares during the period. Soros Fund Management LLC purchased a new position in shares of Equinix during the fourth quarter valued at $214,000. Finally, Alkeon Capital Management LLC increased its position in shares of Equinix by 9.7% in the fourth quarter. Alkeon Capital Management LLC now owns 370,682 shares of the financial services provider’s stock valued at $132,486,000 after buying an additional 32,882 shares during the period. Institutional investors and hedge funds own 97.25% of the company’s stock.
Shares of Equinix, Inc. (EQIX) traded up 0.14% during mid-day trading on Friday, hitting $440.89. 205,321 shares of the company’s stock were exchanged. The company has a market capitalization of $34.35 billion, a price-to-earnings ratio of 158.82 and a beta of 0.61. The firm has a 50 day moving average price of $432.92 and a 200-day moving average price of $392.98. Equinix, Inc. has a 52 week low of $314.55 and a 52 week high of $447.26.
Equinix (NASDAQ:EQIX) last posted its quarterly earnings results on Wednesday, April 26th. The financial services provider reported $4.14 earnings per share for the quarter, topping the Zacks’ consensus estimate of $3.20 by $0.94. Equinix had a net margin of 5.38% and a return on equity of 5.88%. The firm had revenue of $949.53 million for the quarter, compared to the consensus estimate of $946.89 million. During the same quarter in the previous year, the company earned $1.68 earnings per share. The business’s revenue was up 12.5% compared to the same quarter last year. On average, equities analysts anticipate that Equinix, Inc. will post $4.50 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 21st. Shareholders of record on Wednesday, May 24th were paid a dividend of $2.00 per share. The ex-dividend date of this dividend was Monday, May 22nd. This represents a $8.00 dividend on an annualized basis and a yield of 1.82%. Equinix’s dividend payout ratio is currently 286.74%.
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Several research analysts have recently weighed in on EQIX shares. Zacks Investment Research upgraded shares of Equinix from a “hold” rating to a “buy” rating and set a $423.00 target price for the company in a research note on Tuesday, March 7th. Citigroup Inc. upgraded shares of Equinix from a “neutral” rating to a “buy” rating and upped their target price for the company from $408.00 to $435.00 in a research note on Monday, March 13th. They noted that the move was a valuation call. Cowen and Company upped their target price on shares of Equinix from $417.00 to $453.00 and gave the company an “outperform” rating in a research note on Wednesday, March 29th. Macquarie started coverage on shares of Equinix in a research note on Thursday, April 6th. They issued an “outperform” rating and a $450.00 target price for the company. Finally, Barclays PLC restated a “hold” rating and issued a $410.00 target price (up from $400.00) on shares of Equinix in a research note on Friday, April 21st. Five investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Equinix currently has an average rating of “Buy” and a consensus target price of $452.20.
In other Equinix news, insider Michael Earl Campbell sold 1,476 shares of Equinix stock in a transaction on Friday, June 9th. The shares were sold at an average price of $437.34, for a total transaction of $645,513.84. Following the sale, the insider now owns 243 shares in the company, valued at $106,273.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Yau Tat Lee sold 5,875 shares of Equinix stock in a transaction on Wednesday, June 7th. The stock was sold at an average price of $438.70, for a total transaction of $2,577,362.50. Following the sale, the insider now owns 5,485 shares in the company, valued at approximately $2,406,269.50. The disclosure for this sale can be found here. Insiders have sold 23,402 shares of company stock worth $9,851,928 in the last quarter. Corporate insiders own 0.58% 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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