Equinix, Inc. (EQIX) Stake Lowered by Royal Bank of Canada

Royal Bank of Canada reduced its position in shares of Equinix, Inc. (NASDAQ:EQIX) by 0.0% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 51,025 shares of the financial services provider’s stock after selling 14 shares during the period. Royal Bank of Canada’s holdings in Equinix were worth $21,898,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Cpcm LLC grew its position in shares of Equinix by 0.4% during the 1st quarter. Cpcm LLC now owns 1,255 shares of the financial services provider’s stock valued at $502,000 after purchasing an additional 5 shares in the last quarter. Proficio Capital Partners LLC grew its position in shares of Equinix by 2.9% during the 2nd quarter. Proficio Capital Partners LLC now owns 245 shares of the financial services provider’s stock valued at $112,000 after purchasing an additional 7 shares in the last quarter. Conning Inc. grew its position in shares of Equinix by 0.6% during the 2nd quarter. Conning Inc. now owns 1,550 shares of the financial services provider’s stock valued at $665,000 after purchasing an additional 10 shares in the last quarter. New Amsterdam Partners LLC NY grew its position in shares of Equinix by 2.7% during the 2nd quarter. New Amsterdam Partners LLC NY now owns 571 shares of the financial services provider’s stock valued at $245,000 after purchasing an additional 15 shares in the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. grew its position in shares of Equinix by 3.2% during the 1st quarter. Los Angeles Capital Management & Equity Research Inc. now owns 650 shares of the financial services provider’s stock valued at $260,000 after purchasing an additional 20 shares in the last quarter. Hedge funds and other institutional investors own 94.41% of the company’s stock.

EQIX has been the subject of several research reports. BidaskClub lowered shares of Equinix from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 30th. Cowen and Company reiterated a “buy” rating on shares of Equinix in a research report on Friday, July 21st. Royal Bank Of Canada reiterated a “buy” rating and issued a $470.00 target price on shares of Equinix in a research report on Sunday, July 9th. Stifel Nicolaus reiterated a “buy” rating and issued a $497.00 target price (up from $485.00) on shares of Equinix in a research report on Thursday, August 3rd. Finally, Berenberg Bank initiated coverage on shares of Equinix in a research report on Tuesday, September 26th. They issued a “buy” rating and a $550.00 target price for the company. Four investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $470.28.

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Shares of Equinix, Inc. (EQIX) opened at 451.89 on Wednesday. The company has a market capitalization of $35.22 billion, a P/E ratio of 165.95 and a beta of 0.55. The firm has a 50-day moving average of $454.64 and a 200 day moving average of $434.87. Equinix, Inc. has a 1-year low of $314.55 and a 1-year high of $475.28.

Equinix (NASDAQ:EQIX) last issued its quarterly earnings data on Wednesday, August 2nd. The financial services provider reported $4.59 EPS for the quarter, topping analysts’ consensus estimates of $3.41 by $1.18. Equinix had a net margin of 5.18% and a return on equity of 5.51%. The business had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1.03 billion. On average, analysts anticipate that Equinix, Inc. will post $3.83 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 20th. Shareholders of record on Wednesday, August 23rd were paid a $2.00 dividend. The ex-dividend date of this dividend was Monday, August 21st. This represents a $8.00 dividend on an annualized basis and a dividend yield of 1.77%. Equinix’s payout ratio is currently 293.04%.

In other Equinix news, CFO Keith D. Taylor sold 1,500 shares of Equinix stock in a transaction on Wednesday, September 27th. The shares were sold at an average price of $438.46, for a total value of $657,690.00. Following the completion of the transaction, the chief financial officer now directly owns 31,393 shares of the company’s stock, valued at approximately $13,764,574.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Keith D. Taylor sold 1,000 shares of Equinix stock in a transaction on Tuesday, July 18th. The stock was sold at an average price of $436.12, for a total transaction of $436,120.00. Following the completion of the transaction, the chief financial officer now directly owns 32,996 shares of the company’s stock, valued at $14,390,215.52. The disclosure for this sale can be found here. Insiders sold a total of 10,711 shares of company stock valued at $4,813,045 over the last three months. Corporate 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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Institutional Ownership by Quarter for Equinix (NASDAQ:EQIX)

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