Equinix, Inc. (NASDAQ:EQIX) Stake Lessened by Cramer Rosenthal Mcglynn LLC
Cramer Rosenthal Mcglynn LLC trimmed its stake in shares of Equinix, Inc. (NASDAQ:EQIX) by 20.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 47,643 shares of the financial services provider’s stock after selling 12,055 shares during the quarter. Cramer Rosenthal Mcglynn LLC’s holdings in Equinix were worth $20,446,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of Equinix by 9.9% during the 1st quarter. Vanguard Group Inc. now owns 13,186,442 shares of the financial services provider’s stock worth $5,279,456,000 after acquiring an additional 1,192,961 shares in the last quarter. BlackRock Inc. boosted its position in shares of Equinix by 3,737.0% in the first quarter. BlackRock Inc. now owns 6,295,590 shares of the financial services provider’s stock worth $2,520,566,000 after buying an additional 6,131,516 shares during the period. State Street Corp boosted its position in shares of Equinix by 5.2% in the first quarter. State Street Corp now owns 3,007,201 shares of the financial services provider’s stock worth $1,204,001,000 after buying an additional 149,260 shares during the period. FMR LLC boosted its position in shares of Equinix by 0.4% in the second 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. Finally, Principal Financial Group Inc. boosted its position in shares of Equinix by 5.6% in the first quarter. Principal Financial Group Inc. now owns 1,909,287 shares of the financial services provider’s stock worth $763,459,000 after buying an additional 102,082 shares during the period. Institutional investors and hedge funds own 94.41% of the company’s stock.
In related news, insider Michael Earl Campbell sold 1,427 shares of the company’s stock in a transaction that occurred on Tuesday, September 5th. The shares were sold at an average price of $459.75, for a total transaction of $656,063.25. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Camp Peter Van sold 4,444 shares of the company’s stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $445.81, for a total transaction of $1,981,179.64. Following the sale, the director now directly owns 8,572 shares in the company, valued at approximately $3,821,483.32. The disclosure for this sale can be found here. In the last three months, insiders sold 10,711 shares of company stock worth $4,813,045. Insiders own 0.58% of the company’s stock.
Equinix, Inc. (EQIX) traded down 0.40% during trading on Friday, hitting $462.82. 252,524 shares of the stock were exchanged. Equinix, Inc. has a 52 week low of $314.55 and a 52 week high of $475.28. The firm’s 50-day moving average is $454.77 and its 200 day moving average is $435.82. The firm has a market cap of $36.07 billion, a PE ratio of 169.97 and a beta of 0.55.
Equinix (NASDAQ:EQIX) last released its earnings results on Wednesday, August 2nd. The financial services provider reported $4.59 earnings per share for the quarter, beating the Zacks’ consensus estimate of $3.41 by $1.18. The firm had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1.03 billion. Equinix had a net margin of 5.18% and a return on equity of 5.51%. Analysts expect that Equinix, Inc. will post $3.81 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 20th. Stockholders of record on Wednesday, August 23rd were given a $2.00 dividend. This represents a $8.00 annualized dividend and a dividend yield of 1.73%. The ex-dividend date of this dividend was Monday, August 21st. Equinix’s dividend payout ratio (DPR) is currently 293.04%.
Several brokerages have recently commented on EQIX. BidaskClub raised Equinix from a “buy” rating to a “strong-buy” rating in a research report on Thursday, August 24th. Jefferies Group LLC reissued a “hold” rating and set a $440.00 price objective on shares of Equinix in a research report on Thursday. Barclays PLC reissued an “equal weight” rating and set a $475.00 price objective (up previously from $410.00) on shares of Equinix in a research report on Thursday, August 3rd. Cowen and Company restated an “outperform” rating and set a $482.00 target price (up from $465.00) on shares of Equinix in a report on Thursday, August 3rd. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $497.00 price objective (up from $485.00) on shares of Equinix in a research note on Thursday, August 3rd. Four research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $471.94.
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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