Bank of Nova Scotia boosted its stake in Equinix, Inc. (NASDAQ:EQIX) by 14.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor 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 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Point72 Asia Hong Kong Ltd increased its position in Equinix by 47.4% in the first quarter. Point72 Asia Hong Kong Ltd now owns 252 shares of the financial services provider’s stock valued at $101,000 after buying an additional 81 shares during the last quarter. Point72 Asset Management L.P. purchased a new position in Equinix during the first quarter valued at approximately $11,731,000. OLD Mutual Customised Solutions Proprietary Ltd. increased its position in 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 valued at $845,000 after buying an additional 387 shares during the last quarter. Driehaus Capital Management LLC increased its position in Equinix by 30.9% in the first quarter. Driehaus Capital Management LLC now owns 20,522 shares of the financial services provider’s stock valued at $8,216,000 after buying an additional 4,840 shares during the last quarter. Finally, Tudor Investment Corp ET AL purchased a new position in Equinix during the first quarter valued at approximately $3,723,000. Institutional investors own 97.12% of the company’s stock.
Shares of Equinix, Inc. (NASDAQ:EQIX) opened at 431.33 on Wednesday. Equinix, Inc. has a 52-week low of $314.55 and a 52-week high of $447.26.
Equinix (NASDAQ:EQIX) last posted its earnings results on Wednesday, April 26th. The financial services provider reported $4.14 EPS for the quarter, beating the consensus estimate of $3.20 by $0.94. The firm had revenue of $949.53 million for the quarter, compared to analyst estimates of $946.89 million. Equinix had a return on equity of 5.88% and a net margin of 5.38%. Equinix’s revenue for the quarter was up 12.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.68 earnings per share. Equities research analysts predict that Equinix, Inc. will post $4.50 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 21st. Shareholders of record on Wednesday, May 24th were paid a $2.00 dividend. The ex-dividend date of this dividend was Monday, May 22nd. This represents a $8.00 annualized dividend and a yield of 1.85%. Equinix’s dividend payout ratio is presently 286.74%.
Several research firms have commented on EQIX. Royal Bank Of Canada restated a “buy” rating and set a $470.00 price objective on shares of Equinix in a report on Sunday. Macquarie reiterated an “outperform” rating and issued a $450.00 price target on shares of Equinix in a report on Tuesday, July 4th. Jefferies Group LLC reiterated a “hold” rating and issued a $410.00 price target on shares of Equinix in a report on Tuesday, July 4th. BidaskClub downgraded Equinix from a “strong-buy” rating to a “buy” rating in a report on Friday, June 30th. Finally, Credit Suisse Group started coverage on Equinix in a report on Friday, June 30th. They issued an “outperform” rating and a $510.00 price target on the stock. Five research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $455.89.
In other news, CEO Stephen M. Smith sold 5,349 shares of the stock in a transaction dated Monday, April 17th. The shares were sold at an average price of $401.37, for a total transaction of $2,146,928.13. Following the completion of the sale, the chief executive officer now owns 29,057 shares in the company, valued at $11,662,608.09. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Yau Tat Lee sold 5,875 shares of the stock in a transaction dated 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 of the company’s stock, valued at approximately $2,406,269.50. The disclosure for this sale can be found here. Insiders sold 23,202 shares of company stock valued at $9,901,690 in the last 90 days. 0.58% of the stock is currently owned by insiders.
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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