Bank of Nova Scotia boosted its position in Equinix, Inc. (NASDAQ:EQIX) by 14.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,821 shares of the financial services provider’s stock after buying an additional 232 shares during the period. Bank of Nova Scotia’s holdings in Equinix were worth $729,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently made changes to their positions in the company. Point72 Asia Hong Kong Ltd boosted its position in shares of Equinix by 47.4% in the first quarter. Point72 Asia Hong Kong Ltd now owns 252 shares of the financial services provider’s stock worth $101,000 after buying an additional 81 shares during the period. Point72 Asset Management L.P. bought a new position in shares of Equinix during the first quarter worth about $11,731,000. OLD Mutual Customised Solutions Proprietary Ltd. boosted its position in shares of Equinix by 22.5% in the first quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 2,110 shares of the financial services provider’s stock worth $845,000 after buying an additional 387 shares during the period. Driehaus Capital Management LLC boosted its position in shares of Equinix by 30.9% in the first quarter. Driehaus Capital Management LLC now owns 20,522 shares of the financial services provider’s stock worth $8,216,000 after buying an additional 4,840 shares during the period. Finally, Tudor Investment Corp ET AL bought a new position in shares of Equinix during the first quarter worth about $3,723,000. Hedge funds and other institutional investors own 97.38% of the company’s stock.
Equinix, Inc. (NASDAQ:EQIX) traded down 0.84% on Friday, hitting $445.58. The company had a trading volume of 441,336 shares. The firm has a market capitalization of $34.72 billion, a price-to-earnings ratio of 163.64 and a beta of 0.59. Equinix, Inc. has a one year low of $314.55 and a one year high of $455.37.
Equinix (NASDAQ:EQIX) last announced its quarterly earnings results on Wednesday, August 2nd. The financial services provider reported $0.58 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.41 by $2.83. Equinix had a net margin of 5.18% and a return on equity of 5.51%. The business had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1.03 billion. On average, equities analysts anticipate that Equinix, Inc. will post $4.16 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 20th. Shareholders of record on Wednesday, August 23rd will be issued a dividend of $2.00 per share. The ex-dividend date of this dividend is Monday, August 21st. This represents a $8.00 dividend on an annualized basis and a dividend yield of 1.80%. Equinix’s dividend payout ratio (DPR) is 293.04%.
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A number of equities analysts have issued reports on the company. Barclays PLC restated an “equal weight” rating and set a $475.00 target price (up previously from $410.00) on shares of Equinix in a report on Thursday. Stifel Nicolaus restated a “buy” rating and set a $497.00 target price (up previously from $485.00) on shares of Equinix in a report on Thursday. Cowen and Company reiterated an “outperform” rating and set a $482.00 price objective (up previously from $465.00) on shares of Equinix in a report on Thursday. Nomura began coverage on Equinix in a report on Thursday, May 25th. They set a “buy” rating and a $490.00 price objective on the stock. Finally, Canaccord Genuity reiterated a “buy” rating and set a $525.00 price objective on shares of Equinix in a report on Monday, June 12th. Five investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $462.83.
In other Equinix news, insider Yau Tat Lee sold 5,875 shares of the company’s stock in a transaction that occurred 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 transaction, the insider now owns 5,485 shares in the company, valued at approximately $2,406,269.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Keith D. Taylor sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 30th. The stock was sold at an average price of $440.99, for a total value of $440,990.00. Following the transaction, the chief financial officer now owns 36,296 shares in the company, valued at approximately $16,006,173.04. The disclosure for this sale can be found here. Insiders have sold a total of 17,853 shares of company stock worth $7,787,982 in the last quarter. Company 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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