Westpac Banking Corp lessened its holdings in Equinix, Inc. (NASDAQ:EQIX) by 43.2% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 25,099 shares of the financial services provider’s stock after selling 19,075 shares during the period. Westpac Banking Corp’s holdings in Equinix were worth $11,202,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of the company. FMR LLC raised its stake in shares of Equinix by 0.4% in the 2nd quarter. FMR LLC now owns 2,737,598 shares of the financial services provider’s stock valued at $1,174,868,000 after acquiring an additional 10,307 shares during the period. Bank of New York Mellon Corp raised its stake in shares of Equinix by 13.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,384,864 shares of the financial services provider’s stock valued at $594,329,000 after acquiring an additional 168,661 shares during the period. JPMorgan Chase & Co. raised its stake in shares of Equinix by 22.1% in the 2nd quarter. JPMorgan Chase & Co. now owns 1,182,730 shares of the financial services provider’s stock valued at $507,583,000 after acquiring an additional 214,396 shares during the period. Capital World Investors raised its stake in shares of Equinix by 247.0% in the 2nd quarter. Capital World Investors now owns 1,069,359 shares of the financial services provider’s stock valued at $458,926,000 after acquiring an additional 761,220 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in shares of Equinix by 5.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,068,121 shares of the financial services provider’s stock valued at $458,385,000 after acquiring an additional 50,435 shares during the period. 96.54% of the stock is currently owned by institutional investors and hedge funds.
In related news, COO Charles J. Meyers sold 1,090 shares of the company’s stock in a transaction on Tuesday, September 5th. The shares were sold at an average price of $459.80, for a total transaction of $501,182.00. Following the completion of the sale, the chief operating officer now directly owns 2,297 shares of the company’s stock, valued at approximately $1,056,160.60. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Camp Peter Van sold 4,444 shares of the company’s stock in a transaction on Monday, August 7th. The stock was sold at an average price of $445.81, for a total transaction of $1,981,179.64. Following the sale, the director now directly owns 8,572 shares of the company’s stock, valued at $3,821,483.32. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 11,411 shares of company stock valued at $5,152,777. 0.58% of the stock is owned by insiders.
Equinix (NASDAQ:EQIX) last posted its quarterly earnings data on Wednesday, November 1st. The financial services provider reported $3.63 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.39 by $2.24. The business had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.14 billion. Equinix had a net margin of 5.18% and a return on equity of 5.51%. Equinix’s quarterly revenue was up 24.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.95 EPS.
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A number of equities analysts have recently commented on the stock. Citigroup Inc. raised their target price on shares of Equinix from $518.00 to $530.00 and gave the company a “buy” rating in a research note on Thursday. J P Morgan Chase & Co raised shares of Equinix from a “neutral” rating to an “overweight” rating in a research note on Thursday. Deutsche Bank AG assumed coverage on shares of Equinix in a research note on Tuesday, October 24th. They issued a “buy” rating and a $550.00 target price on the stock. Barclays PLC reissued an “equal weight” rating and issued a $475.00 target price (up previously from $410.00) on shares of Equinix in a research note on Wednesday, August 9th. Finally, BidaskClub downgraded shares of Equinix from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, August 8th. Three research 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’s stock. Equinix presently has a consensus rating of “Buy” and an average target price of $481.21.
Equinix, Inc (Equinix) connects businesses with partners and customers worldwide through a global platform of data centers. The Company connects approximately 4000 customers, across the Americas, Europe, Middle East and Africa (EMEA) and Asia-Pacific. Platform Equinix combines international business exchange (IBX) data centers, a global footprint and ecosystems.
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