Investors Buy Shares of Equinix (EQIX) on Weakness

Traders purchased shares of Equinix, Inc. (NASDAQ:EQIX) on weakness during trading on Wednesday. $113.55 million flowed into the stock on the tick-up and $59.53 million flowed out of the stock on the tick-down, for a money net flow of $54.02 million into the stock. Of all companies tracked, Equinix had the 20th highest net in-flow for the day. Equinix traded down ($12.98) for the day and closed at $443.00

EQIX has been the topic of a number of research reports. Citigroup lifted their price objective on Equinix from $518.00 to $530.00 and gave the stock a “buy” rating in a research note on Thursday, November 2nd. Nomura lifted their price objective on Equinix from $490.00 to $510.00 and gave the stock a “buy” rating in a research note on Thursday, November 2nd. Deutsche Bank started coverage on Equinix in a research note on Tuesday, October 24th. They issued a “buy” rating and a $550.00 price objective on the stock. Berenberg Bank started coverage on Equinix in a research report on Tuesday, September 26th. They set a “buy” rating and a $550.00 target price on the stock. Finally, Zacks Investment Research raised Equinix from a “hold” rating to a “buy” rating and set a $547.00 target price on the stock in a research report on Monday, November 6th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and eighteen have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $502.95.

The company has a market cap of $34,060.00, a PE ratio of 141.36, a price-to-earnings-growth ratio of 1.56 and a beta of 0.46. The company has a debt-to-equity ratio of 1.51, a quick ratio of 2.11 and a current ratio of 2.11.

Equinix (NASDAQ:EQIX) last released its earnings results on Wednesday, November 1st. The financial services provider reported $3.63 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.39 by $2.24. Equinix had a return on equity of 5.59% and a net margin of 5.58%. The firm had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.14 billion. During the same quarter in the previous year, the company posted $3.95 EPS. The company’s revenue for the quarter was up 24.6% compared to the same quarter last year. equities research analysts forecast that Equinix, Inc. will post 16.05 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 13th. Investors of record on Wednesday, November 15th were issued a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a yield of 1.84%. The ex-dividend date was Tuesday, November 14th. Equinix’s payout ratio is currently 259.74%.

In related news, insider Michael Earl Campbell sold 200 shares of the business’s stock in a transaction on Monday, October 16th. The stock was sold at an average price of $463.61, for a total transaction of $92,722.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Keith D. Taylor sold 1,500 shares of the business’s stock in a transaction on Thursday, December 14th. The shares were sold at an average price of $457.84, for a total value of $686,760.00. Following the transaction, the chief financial officer now owns 26,196 shares of the company’s stock, valued at approximately $11,993,576.64. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 6,193 shares of company stock valued at $2,892,191. 0.58% of the stock is owned by company insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of EQIX. FMR LLC lifted its holdings in shares of Equinix by 0.4% in the 2nd quarter. FMR LLC now owns 2,737,598 shares of the financial services provider’s stock worth $1,174,868,000 after buying an additional 10,307 shares during the period. Principal Financial Group Inc. lifted its holdings in shares of Equinix by 0.3% in the 3rd quarter. Principal Financial Group Inc. now owns 1,898,601 shares of the financial services provider’s stock worth $847,345,000 after buying an additional 6,178 shares during the period. Edgewood Management LLC lifted its holdings in shares of Equinix by 1.0% in the 3rd quarter. Edgewood Management LLC now owns 1,862,778 shares of the financial services provider’s stock worth $831,358,000 after buying an additional 18,248 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of Equinix by 7.8% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,493,095 shares of the financial services provider’s stock worth $666,367,000 after buying an additional 108,231 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Equinix by 2.3% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,092,554 shares of the financial services provider’s stock worth $487,600,000 after buying an additional 24,433 shares during the period. Institutional investors own 94.16% of the company’s stock.

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About Equinix

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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