Investors Sell Equinix, Inc. (EQIX) on Strength (EQIX)
Traders sold shares of Equinix, Inc. (NASDAQ:EQIX) on strength during trading on Friday. $109.12 million flowed into the stock on the tick-up and $206.70 million flowed out of the stock on the tick-down, for a money net flow of $97.58 million out of the stock. Of all companies tracked, Equinix had the 29th highest net out-flow for the day. Equinix traded up $0.40 for the day and closed at $455.31
A number of equities research analysts have recently weighed in on the company. Barclays PLC reaffirmed an “equal weight” rating and issued a $475.00 price objective (up from $410.00) on shares of Equinix in a research note on Wednesday, August 9th. Royal Bank Of Canada boosted their target price on Equinix from $470.00 to $505.00 and gave the stock an “outperform” rating in a research note on Monday, August 7th. BidaskClub cut Equinix from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, August 8th. Cowen and Company reissued an “outperform” rating and set a $482.00 target price (up from $465.00) on shares of Equinix in a research note on Thursday, August 3rd. Finally, Stifel Nicolaus reissued a “buy” rating and set a $497.00 target price (up from $485.00) on shares of Equinix in a research note on Thursday, August 3rd. Five equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $464.78.
The firm has a market capitalization of $35.49 billion, a P/E ratio of 167.21 and a beta of 0.56. The stock has a 50 day moving average price of $455.67 and a 200 day moving average price of $425.49.
Equinix (NASDAQ:EQIX) last announced its earnings results on Wednesday, August 2nd. The financial services provider reported $4.59 earnings per share for the quarter, beating the consensus estimate of $3.41 by $1.18. The company had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.03 billion. Equinix had a return on equity of 5.51% and a net margin of 5.18%. On average, analysts predict that Equinix, Inc. will post $3.85 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 20th. Investors of record on Wednesday, August 23rd will be paid a $2.00 dividend. The ex-dividend date of this dividend is Monday, August 21st. This represents a $8.00 dividend on an annualized basis and a yield of 1.76%. Equinix’s dividend payout ratio (DPR) is 293.04%.
In related news, insider Karl Strohmeyer sold 250 shares of Equinix stock in a transaction dated Friday, August 25th. The stock was sold at an average price of $464.96, for a total value of $116,240.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Charles J. Meyers sold 1,090 shares of Equinix stock in a transaction dated Tuesday, September 5th. The stock was sold at an average price of $459.80, for a total value of $501,182.00. Following the completion of the transaction, the chief operating officer now owns 2,297 shares of the company’s stock, valued at $1,056,160.60. The disclosure for this sale can be found here. Insiders sold 11,711 shares of company stock valued at $5,244,405 over the last quarter. Insiders own 0.58% of the company’s stock.
Large investors have recently bought and sold shares of the stock. Tudor Investment Corp ET AL acquired a new position in Equinix in the first quarter worth about $3,723,000. Arxis Securities LLC acquired a new position in Equinix in the first quarter worth about $227,000. Alliancebernstein L.P. grew its stake in Equinix by 4.3% in the first quarter. Alliancebernstein L.P. now owns 188,721 shares of the financial services provider’s stock worth $75,558,000 after purchasing an additional 7,859 shares in the last quarter. Two Sigma Securities LLC acquired a new position in Equinix in the first quarter worth about $351,000. Finally, Prudential Financial Inc. grew its stake in Equinix by 1.1% in the second quarter. Prudential Financial Inc. now owns 110,757 shares of the financial services provider’s stock worth $47,532,000 after purchasing an additional 1,185 shares in the last quarter. Institutional investors and hedge funds own 94.41% of the company’s stock.
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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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