Gradient Investments LLC reduced its stake in shares of Equinix, Inc. (NASDAQ:EQIX – Get Rating) by 71.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 7,545 shares of the financial services provider’s stock after selling 18,808 shares during the quarter. Gradient Investments LLC’s holdings in Equinix were worth $4,943,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in Equinix by 0.7% during the third quarter. Vanguard Group Inc. now owns 12,011,822 shares of the financial services provider’s stock worth $6,832,805,000 after buying an additional 82,116 shares during the period. BlackRock Inc. grew its position in Equinix by 0.3% during the third quarter. BlackRock Inc. now owns 9,056,624 shares of the financial services provider’s stock worth $5,151,771,000 after buying an additional 31,578 shares during the period. State Street Corp grew its position in Equinix by 11.7% during the second quarter. State Street Corp now owns 6,008,037 shares of the financial services provider’s stock worth $3,947,400,000 after buying an additional 630,477 shares during the period. FMR LLC grew its position in Equinix by 16.0% during the second quarter. FMR LLC now owns 1,815,330 shares of the financial services provider’s stock worth $1,192,709,000 after buying an additional 250,501 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in shares of Equinix by 0.8% in the third quarter. Dimensional Fund Advisors LP now owns 1,225,904 shares of the financial services provider’s stock valued at $697,337,000 after purchasing an additional 9,878 shares during the last quarter. 92.80% of the stock is currently owned by institutional investors and hedge funds.
Insider Activity
In other news, insider Karl Strohmeyer sold 56 shares of the firm’s stock in a transaction on Thursday, March 2nd. The shares were sold at an average price of $665.03, for a total value of $37,241.68. Following the transaction, the insider now owns 23,247 shares of the company’s stock, valued at approximately $15,459,952.41. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CFO Keith D. Taylor sold 1,358 shares of the firm’s stock in a transaction on Thursday, March 9th. The shares were sold at an average price of $688.48, for a total value of $934,955.84. Following the transaction, the chief financial officer now owns 24,177 shares of the company’s stock, valued at approximately $16,645,380.96. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Karl Strohmeyer sold 56 shares of Equinix stock in a transaction on Thursday, March 2nd. The stock was sold at an average price of $665.03, for a total transaction of $37,241.68. Following the sale, the insider now directly owns 23,247 shares in the company, valued at approximately $15,459,952.41. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 20,971 shares of company stock valued at $14,666,488. Company insiders own 0.32% of the company’s stock.
Wall Street Analysts Forecast Growth
Equinix Stock Performance
NASDAQ:EQIX opened at $690.85 on Friday. The company has a quick ratio of 1.80, a current ratio of 1.80 and a debt-to-equity ratio of 1.29. The company has a market cap of $64.10 billion, a P/E ratio of 89.95, a P/E/G ratio of 2.29 and a beta of 0.61. Equinix, Inc. has a fifty-two week low of $494.89 and a fifty-two week high of $776.35. The firm’s 50 day moving average is $710.66 and its two-hundred day moving average is $652.89.
Equinix (NASDAQ:EQIX – Get Rating) last posted its quarterly earnings results on Wednesday, February 15th. The financial services provider reported $1.39 earnings per share for the quarter, missing analysts’ consensus estimates of $5.90 by ($4.51). Equinix had a return on equity of 6.37% and a net margin of 9.70%. The company had revenue of $1.87 billion for the quarter, compared to analysts’ expectations of $1.86 billion. During the same period in the prior year, the business earned $6.22 EPS. The business’s revenue for the quarter was up 9.6% on a year-over-year basis. Analysts expect that Equinix, Inc. will post 27.53 EPS for the current year.
Equinix Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 22nd. Stockholders of record on Tuesday, March 7th will be paid a $3.41 dividend. This represents a $13.64 dividend on an annualized basis and a dividend yield of 1.97%. The ex-dividend date of this dividend is Monday, March 6th. This is an increase from Equinix’s previous quarterly dividend of $3.10. Equinix’s dividend payout ratio (DPR) is currently 177.60%.
Equinix Company Profile
Equinix, Inc engages in the provision of collocation space and develops data center solutions. The firm offers secure key management, consulting, network virtualization, customer support, and managed services. It operates through the following geographical segments: Americas, Europe, Middle East & Africa and Asia-Pacific.
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