NuWave Investment Management LLC Sells 161 Shares of Equinix Inc (NASDAQ:EQIX)

NuWave Investment Management LLC lowered its position in Equinix Inc (NASDAQ:EQIX) by 74.9% during the 3rd quarter, HoldingsChannel reports. The firm owned 54 shares of the financial services provider’s stock after selling 161 shares during the period. NuWave Investment Management LLC’s holdings in Equinix were worth $31,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in EQIX. Nuveen Asset Management LLC grew its position in Equinix by 195.3% in the second quarter. Nuveen Asset Management LLC now owns 1,038,360 shares of the financial services provider’s stock worth $523,634,000 after acquiring an additional 686,771 shares in the last quarter. Waddell & Reed Financial Inc. purchased a new position in Equinix in the second quarter worth $94,127,000. Vanguard Group Inc. grew its position in Equinix by 1.0% in the second quarter. Vanguard Group Inc. now owns 10,717,936 shares of the financial services provider’s stock worth $5,404,948,000 after acquiring an additional 102,976 shares in the last quarter. Janus Henderson Group PLC grew its position in Equinix by 36.4% in the second quarter. Janus Henderson Group PLC now owns 356,381 shares of the financial services provider’s stock worth $179,710,000 after acquiring an additional 95,141 shares in the last quarter. Finally, Russell Investments Group Ltd. grew its position in Equinix by 46.9% in the second quarter. Russell Investments Group Ltd. now owns 245,087 shares of the financial services provider’s stock worth $123,273,000 after acquiring an additional 78,209 shares in the last quarter. 98.59% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Equinix stock traded down $3.88 during trading on Friday, reaching $572.27. 75,252 shares of the stock were exchanged, compared to its average volume of 386,359. The company has a quick ratio of 1.59, a current ratio of 1.59 and a debt-to-equity ratio of 1.34. The stock’s fifty day moving average is $563.15 and its 200 day moving average is $513.97. The firm has a market cap of $46.23 billion, a price-to-earnings ratio of 27.66, a price-to-earnings-growth ratio of 1.90 and a beta of 0.69. Equinix Inc has a 1 year low of $335.29 and a 1 year high of $609.97.

Equinix (NASDAQ:EQIX) last posted its earnings results on Wednesday, July 31st. The financial services provider reported $1.69 earnings per share for the quarter, missing the Zacks’ consensus estimate of $5.14 by ($3.45). The firm had revenue of $1.38 billion for the quarter, compared to analysts’ expectations of $1.39 billion. Equinix had a return on equity of 6.29% and a net margin of 9.29%. The business’s revenue for the quarter was up 9.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.63 earnings per share. Equities analysts forecast that Equinix Inc will post 20.7 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders of record on Wednesday, August 21st were issued a dividend of $2.46 per share. The ex-dividend date of this dividend was Tuesday, August 20th. This represents a $9.84 dividend on an annualized basis and a dividend yield of 1.72%. Equinix’s dividend payout ratio is currently 47.56%.

Several brokerages recently issued reports on EQIX. Credit Suisse Group set a $581.00 target price on shares of Equinix and gave the stock a “buy” rating in a research report on Wednesday, October 9th. ValuEngine lowered shares of Equinix from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. BidaskClub upgraded shares of Equinix from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, September 25th. Morgan Stanley upped their price target on shares of Equinix from $435.00 to $510.00 and gave the company an “equal weight” rating in a research report on Thursday, September 19th. Finally, Guggenheim upped their price target on shares of Equinix from $505.00 to $540.00 and gave the company a “sell” rating in a research report on Tuesday, July 2nd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, sixteen have issued a buy rating and two have issued a strong buy rating to the stock. Equinix currently has a consensus rating of “Buy” and a consensus target price of $539.15.

In other news, Director Camp Peter Van sold 3,191 shares of the stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $549.78, for a total transaction of $1,754,347.98. Following the completion of the sale, the director now directly owns 4,024 shares in the company, valued at $2,212,314.72. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Charles J. Meyers sold 1,928 shares of the stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $558.57, for a total transaction of $1,076,922.96. Following the sale, the chief executive officer now owns 7,810 shares of the company’s stock, valued at $4,362,431.70. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 12,409 shares of company stock valued at $6,727,033. 0.49% of the stock is currently owned by company insiders.

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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Institutional Ownership by Quarter for Equinix (NASDAQ:EQIX)

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