Meitav Dash Investments Ltd. trimmed its stake in shares of Equinix Inc (NASDAQ:EQIX) by 0.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,811 shares of the financial services provider’s stock after selling 34 shares during the quarter. Meitav Dash Investments Ltd.’s holdings in Equinix were worth $2,165,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Vanguard Group Inc increased its holdings in shares of Equinix by 0.3% during the third quarter. Vanguard Group Inc now owns 10,175,655 shares of the financial services provider’s stock worth $4,404,940,000 after purchasing an additional 27,284 shares during the period. IFP Advisors Inc boosted its position in shares of Equinix by 10.4% during the 4th quarter. IFP Advisors Inc now owns 447 shares of the financial services provider’s stock worth $158,000 after acquiring an additional 42 shares in the last quarter. Gabelli Funds LLC boosted its position in shares of Equinix by 30.3% during the 4th quarter. Gabelli Funds LLC now owns 18,900 shares of the financial services provider’s stock worth $6,663,000 after acquiring an additional 4,400 shares in the last quarter. Wedge Capital Management L L P NC acquired a new stake in shares of Equinix during the 4th quarter worth approximately $9,822,000. Finally, Shelton Capital Management boosted its position in shares of Equinix by 59.2% during the 4th quarter. Shelton Capital Management now owns 914 shares of the financial services provider’s stock worth $322,000 after acquiring an additional 340 shares in the last quarter. 99.65% of the stock is currently owned by institutional investors.
Equinix stock traded up $6.10 during mid-day trading on Friday, hitting $504.29. The company had a trading volume of 377,664 shares, compared to its average volume of 490,149. The firm’s fifty day moving average is $495.45. Equinix Inc has a 12-month low of $335.29 and a 12-month high of $516.95. The company has a debt-to-equity ratio of 1.25, a current ratio of 1.56 and a quick ratio of 1.56. The stock has a market cap of $40.28 billion, a P/E ratio of 24.37, a price-to-earnings-growth ratio of 1.70 and a beta of 0.76.
The business also recently announced a quarterly dividend, which was paid on Wednesday, June 19th. Shareholders of record on Wednesday, May 22nd were paid a $2.46 dividend. This represents a $9.84 dividend on an annualized basis and a dividend yield of 1.95%. The ex-dividend date was Tuesday, May 21st. Equinix’s dividend payout ratio (DPR) is presently 47.56%.
Several analysts recently issued reports on the stock. BidaskClub lowered shares of Equinix from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, June 11th. ValuEngine upgraded shares of Equinix from a “hold” rating to a “buy” rating in a research report on Wednesday, May 15th. Argus initiated coverage on shares of Equinix in a research report on Monday, June 3rd. They issued a “buy” rating and a $550.00 target price on the stock. Royal Bank of Canada raised their target price on shares of Equinix from $500.00 to $520.00 and gave the company an “outperform” rating in a research report on Monday, May 6th. Finally, Deutsche Bank raised their price target on shares of Equinix from $480.00 to $500.00 and gave the company a “buy” rating in a research note on Thursday, May 9th. Two investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. Equinix has a consensus rating of “Buy” and an average price target of $502.47.
In related news, CEO Charles J. Meyers sold 282 shares of the firm’s stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $462.31, for a total transaction of $130,371.42. Following the completion of the sale, the chief executive officer now directly owns 5,882 shares of the company’s stock, valued at approximately $2,719,307.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Michael Earl Campbell sold 1,250 shares of the firm’s stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $490.87, for a total value of $613,587.50. Following the sale, the insider now directly owns 2,578 shares of the company’s stock, valued at $1,265,462.86. The disclosure for this sale can be found here. Insiders sold a total of 2,982 shares of company stock valued at $1,444,590 over the last ninety days. Corporate insiders own 0.49% of the company’s stock.
Equinix Company Profile
Equinix, Inc (Nasdaq: EQIX) connects the world's leading businesses to their customers, employees and partners inside the most-interconnected data centers. In 52 markets across five continents, Equinix is where companies come together to realize new opportunities and accelerate their business, IT and cloud strategies.
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