Miles Capital Inc. trimmed its position in shares of Equinix Inc (NASDAQ:EQIX) by 2.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,198 shares of the financial services provider’s stock after selling 32 shares during the period. Miles Capital Inc.’s holdings in Equinix were worth $699,000 as of its most recent SEC filing.
Other institutional investors have also recently bought and sold shares of the company. Tarbox Family Office Inc. grew its holdings in Equinix by 181.3% in the third quarter. Tarbox Family Office Inc. now owns 45 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 29 shares during the period. North Star Investment Management Corp. purchased a new position in shares of Equinix in the 3rd quarter worth about $40,000. Baystate Wealth Management LLC boosted its stake in Equinix by 91.9% in the 3rd quarter. Baystate Wealth Management LLC now owns 71 shares of the financial services provider’s stock worth $41,000 after purchasing an additional 34 shares in the last quarter. Synovus Financial Corp grew its position in Equinix by 108.1% during the 3rd quarter. Synovus Financial Corp now owns 77 shares of the financial services provider’s stock valued at $44,000 after purchasing an additional 40 shares during the last quarter. Finally, Shine Investment Advisory Services Inc. purchased a new stake in Equinix during the 3rd quarter valued at about $46,000. Institutional investors own 99.02% of the company’s stock.
Shares of Equinix stock traded up $5.14 during trading on Tuesday, reaching $593.14. 7,310 shares of the stock traded hands, compared to its average volume of 292,531. The company has a market capitalization of $47.64 billion, a price-to-earnings ratio of 100.46, a P/E/G ratio of 1.95 and a beta of 0.66. The business has a fifty day simple moving average of $574.88 and a two-hundred day simple moving average of $554.34. The company has a debt-to-equity ratio of 1.33, a current ratio of 1.55 and a quick ratio of 1.55. Equinix Inc has a 52-week low of $357.35 and a 52-week high of $609.97.
Equinix (NASDAQ:EQIX) last posted its earnings results on Wednesday, October 30th. The financial services provider reported $1.41 EPS for the quarter, missing analysts’ consensus estimates of $4.96 by ($3.55). The firm had revenue of $1.40 billion during the quarter, compared to analysts’ expectations of $1.41 billion. Equinix had a return on equity of 5.94% and a net margin of 9.03%. Equinix’s quarterly revenue was up 8.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.55 earnings per share. On average, research analysts predict that Equinix Inc will post 20.63 earnings per share for the current fiscal year.
In related news, CEO Charles J. Meyers sold 5,562 shares of the business’s stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $592.53, for a total transaction of $3,295,651.86. Following the transaction, the chief executive officer now owns 8,567 shares of the company’s stock, valued at $5,076,204.51. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Sara Baack sold 250 shares of the company’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $565.33, for a total transaction of $141,332.50. Following the transaction, the insider now owns 8,172 shares of the company’s stock, valued at $4,619,876.76. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 17,998 shares of company stock valued at $10,621,400. Corporate insiders own 0.49% of the company’s stock.
Several research analysts have issued reports on EQIX shares. BidaskClub cut shares of Equinix from a “buy” rating to a “hold” rating in a report on Thursday, January 16th. Wells Fargo & Co restated an “outperform” rating and issued a $620.00 price target (up previously from $545.00) on shares of Equinix in a research note on Thursday, October 31st. Credit Suisse Group reaffirmed a “buy” rating and set a $581.00 price target on shares of Equinix in a report on Wednesday, December 4th. Stifel Nicolaus reaffirmed a “buy” rating and set a $620.00 price objective on shares of Equinix in a research report on Thursday, November 14th. Finally, Raymond James lifted their price objective on Equinix from $560.00 to $625.00 and gave the stock a “strong-buy” rating in a report on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Equinix currently has an average rating of “Buy” and an average target price of $574.56.
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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