Nissay Asset Management Corp Japan ADV Buys 393 Shares of Equinix Inc (EQIX)

Nissay Asset Management Corp Japan ADV increased its stake in Equinix Inc (NASDAQ:EQIX) by 6.7% in the 1st quarter, HoldingsChannel reports. The fund owned 6,224 shares of the financial services provider’s stock after acquiring an additional 393 shares during the period. Nissay Asset Management Corp Japan ADV’s holdings in Equinix were worth $2,820,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Washington Trust Bank purchased a new position in shares of Equinix during the first quarter valued at approximately $29,000. Spectrum Management Group Inc. purchased a new position in shares of Equinix during the first quarter valued at approximately $29,000. Farmers & Merchants Investments Inc. boosted its position in shares of Equinix by 174.2% during the fourth quarter. Farmers & Merchants Investments Inc. now owns 85 shares of the financial services provider’s stock valued at $30,000 after buying an additional 54 shares during the period. Pearl River Capital LLC purchased a new position in shares of Equinix during the fourth quarter valued at approximately $35,000. Finally, Proficio Capital Partners LLC boosted its position in shares of Equinix by 116.7% during the fourth quarter. Proficio Capital Partners LLC now owns 117 shares of the financial services provider’s stock valued at $41,000 after buying an additional 63 shares during the period. Institutional investors own 98.76% of the company’s stock.

Several research analysts have issued reports on the company. ValuEngine upgraded Equinix from a “hold” rating to a “buy” rating in a research report on Wednesday. Deutsche Bank boosted their target price on Equinix from $480.00 to $500.00 and gave the company a “buy” rating in a research report on Thursday, May 9th. BidaskClub upgraded Equinix from a “hold” rating to a “buy” rating in a research report on Thursday, May 9th. Zacks Investment Research upgraded Equinix from a “sell” rating to a “hold” rating in a research report on Wednesday, May 8th. Finally, Royal Bank of Canada boosted their target price on Equinix from $500.00 to $520.00 and gave the company an “outperform” rating in a research report on Monday, May 6th. Two analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company. Equinix has a consensus rating of “Buy” and a consensus price target of $501.44.



In related news, CEO Charles J. Meyers sold 282 shares of the business’s stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $462.31, for a total value of $130,371.42. Following the completion of the transaction, the chief executive officer now owns 5,882 shares of the company’s stock, valued at $2,719,307.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Charles J. Meyers sold 3,383 shares of the business’s stock in a transaction that occurred on Tuesday, February 19th. The stock was sold at an average price of $425.92, for a total transaction of $1,440,887.36. The disclosure for this sale can be found here. Insiders sold 18,143 shares of company stock valued at $7,776,844 in the last three months. 0.49% of the stock is currently owned by insiders.

Equinix stock opened at $484.00 on Thursday. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 1.25. Equinix Inc has a fifty-two week low of $335.29 and a fifty-two week high of $488.38. The company has a market cap of $39.10 billion, a PE ratio of 23.39, a P/E/G ratio of 1.65 and a beta of 0.89.

Equinix (NASDAQ:EQIX) last posted its quarterly earnings results on Wednesday, May 1st. The financial services provider reported $1.44 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $5.16 by ($3.72). Equinix had a net margin of 8.06% and a return on equity of 5.66%. The company had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.35 billion. During the same period in the prior year, the firm posted $5.21 EPS. The business’s revenue was up 12.1% on a year-over-year basis. On average, sell-side analysts predict that Equinix Inc will post 20.81 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 19th. Stockholders of record on Wednesday, May 22nd will be paid a dividend of $2.46 per share. This represents a $9.84 annualized dividend and a dividend yield of 2.03%. The ex-dividend date of this dividend is Tuesday, May 21st. Equinix’s dividend payout ratio is presently 47.56%.

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About Equinix

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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Institutional Ownership by Quarter for Equinix (NASDAQ:EQIX)

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