Oak Ridge Investments LLC Cuts Stock Holdings in Equinix Inc (NASDAQ:EQIX)
Oak Ridge Investments LLC lessened its stake in Equinix Inc (NASDAQ:EQIX) by 6.3% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 10,173 shares of the financial services provider’s stock after selling 682 shares during the quarter. Oak Ridge Investments LLC’s holdings in Equinix were worth $6,354,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Checchi Capital Advisers LLC increased its holdings in Equinix by 5.3% in the 4th quarter. Checchi Capital Advisers LLC now owns 781 shares of the financial services provider’s stock worth $456,000 after acquiring an additional 39 shares in the last quarter. NS Partners Ltd increased its holdings in Equinix by 1.9% in the 4th quarter. NS Partners Ltd now owns 17,313 shares of the financial services provider’s stock worth $10,106,000 after acquiring an additional 320 shares in the last quarter. Timbercreek Investment Management Inc. boosted its stake in Equinix by 11.4% during the 1st quarter. Timbercreek Investment Management Inc. now owns 38,867 shares of the financial services provider’s stock worth $24,337,000 after purchasing an additional 3,980 shares during the last quarter. Marshall Wace North America L.P. acquired a new stake in Equinix during the 4th quarter worth $1,027,000. Finally, IBM Retirement Fund boosted its stake in Equinix by 60.5% during the 1st quarter. IBM Retirement Fund now owns 2,011 shares of the financial services provider’s stock worth $1,256,000 after purchasing an additional 758 shares during the last quarter. 93.57% of the stock is owned by institutional investors.
EQIX traded down $7.71 on Wednesday, hitting $688.98. The company had a trading volume of 324,899 shares, compared to its average volume of 604,490. The firm has a market cap of $61.02 billion, a P/E ratio of 117.01, a PEG ratio of 1.55 and a beta of 0.43. Equinix Inc has a 1 year low of $471.80 and a 1 year high of $718.33. The company’s fifty day moving average price is $676.91 and its 200 day moving average price is $611.87. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 1.44.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 17th. Investors of record on Wednesday, May 20th will be issued a $2.66 dividend. The ex-dividend date of this dividend is Tuesday, May 19th. This represents a $10.64 annualized dividend and a yield of 1.54%. Equinix’s dividend payout ratio (DPR) is currently 46.65%.
Several brokerages have issued reports on EQIX. Citigroup lifted their target price on shares of Equinix from $710.00 to $754.00 and gave the stock a “buy” rating in a research note on Wednesday, May 20th. Raymond James cut shares of Equinix from a “strong-buy” rating to a “market perform” rating in a research note on Thursday, April 16th. They noted that the move was a valuation call. Wells Fargo & Co lifted their target price on shares of Equinix from $675.00 to $745.00 and gave the stock an “overweight” rating in a research note on Thursday, May 7th. BidaskClub cut shares of Equinix from a “buy” rating to a “hold” rating in a research note on Thursday, May 21st. Finally, Credit Suisse Group boosted their price target on shares of Equinix from $630.00 to $704.00 and gave the company an “outperform” rating in a research report on Monday, May 11th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and fifteen have given a buy rating to the company’s stock. Equinix presently has an average rating of “Buy” and a consensus target price of $694.11.
In other Equinix news, insider Karl Strohmeyer sold 966 shares of the business’s stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $565.11, for a total transaction of $545,896.26. Following the sale, the insider now directly owns 6,127 shares in the company, valued at $3,462,428.97. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Sara Baack sold 250 shares of the business’s stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $608.18, for a total transaction of $152,045.00. Following the sale, the insider now owns 11,179 shares in the company, valued at $6,798,844.22. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 8,745 shares of company stock worth $5,420,811. 0.49% of the stock is owned by insiders.
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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