Pictet Asset Management Ltd. raised its holdings in Equinix, Inc. (NASDAQ:EQIX) by 30.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 527,673 shares of the financial services provider’s stock after purchasing an additional 122,617 shares during the quarter. Equinix accounts for 0.7% of Pictet Asset Management Ltd.’s investment portfolio, making the stock its 20th largest position. Pictet Asset Management Ltd. owned approximately 0.68% of Equinix worth $235,501,000 as of its most recent SEC filing.
Other large investors have also made changes to their positions in the company. Verition Fund Management LLC grew its position in Equinix by 17.0% during the 2nd quarter. Verition Fund Management LLC now owns 819 shares of the financial services provider’s stock worth $351,000 after acquiring an additional 119 shares during the last quarter. Nicholas Company Inc. purchased a new position in Equinix during the second quarter valued at $3,201,000. Ameriprise Financial Inc. raised its stake in Equinix by 7.8% during the second quarter. Ameriprise Financial Inc. now owns 610,357 shares of the financial services provider’s stock valued at $261,747,000 after buying an additional 43,933 shares during the last quarter. Toronto Dominion Bank raised its stake in shares of Equinix by 25.9% in the second quarter. Toronto Dominion Bank now owns 26,388 shares of the financial services provider’s stock worth $11,322,000 after purchasing an additional 5,431 shares during the last quarter. Finally, Prudential Financial Inc. grew its holdings in shares of 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 acquiring an additional 1,185 shares during the period. Hedge funds and other institutional investors own 95.09% of the company’s stock.
Several analysts have issued reports on the company. Citigroup Inc. boosted their price target on Equinix from $518.00 to $530.00 and gave the company a “buy” rating in a report on Thursday, November 2nd. Oppenheimer Holdings, Inc. boosted their target price on Equinix from $472.00 to $500.00 and gave the stock an “outperform” rating in a research report on Thursday, November 2nd. Morgan Stanley upped their target price on Equinix from $424.00 to $435.00 and gave the company an “equal weight” rating in a research note on Thursday, November 2nd. Cowen and Company reaffirmed a “buy” rating and set a $482.00 target price on shares of Equinix in a research note on Friday. Finally, Barclays PLC reaffirmed an “equal weight” rating and set a $475.00 target price (up previously from $410.00) on shares of Equinix in a research report on Wednesday, August 9th. Three research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the stock. Equinix presently has an average rating of “Buy” and an average price target of $495.20.
Shares of Equinix, Inc. (NASDAQ:EQIX) traded up $1.91 during midday trading on Tuesday, reaching $484.12. The company’s stock had a trading volume of 428,800 shares, compared to its average volume of 502,095. The stock has a market capitalization of $37,725.07, a price-to-earnings ratio of 27.12, a price-to-earnings-growth ratio of 1.94 and a beta of 0.46. The company has a current ratio of 2.11, a quick ratio of 2.11 and a debt-to-equity ratio of 1.51. Equinix, Inc. has a 52 week low of $314.55 and a 52 week high of $495.35.
Equinix (NASDAQ:EQIX) last posted its quarterly earnings results on Wednesday, November 1st. The financial services provider reported $3.63 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.39 by $2.24. The business had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.14 billion. Equinix had a net margin of 5.58% and a return on equity of 5.59%. The company’s quarterly revenue was up 24.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.95 earnings per share. analysts predict that Equinix, Inc. will post 16.05 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 13th. Investors of record on Wednesday, November 15th will be issued a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a yield of 1.65%. The ex-dividend date of this dividend is Tuesday, November 14th. Equinix’s payout ratio is 264.03%.
In other Equinix news, insider Karl Strohmeyer sold 250 shares of the firm’s stock in a transaction on Friday, August 25th. The shares were sold at an average price of $464.96, for a total transaction of $116,240.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Michael Earl Campbell sold 1,427 shares of the business’s stock in a transaction dated Tuesday, September 5th. The stock was sold at an average price of $459.75, for a total transaction of $656,063.25. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 7,560 shares of company stock valued at $3,459,196. Company insiders own 0.58% 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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