First Horizon Advisors Inc. Raises Stock Position in Equinix, Inc. (REIT) (NASDAQ:EQIX)

First Horizon Advisors Inc. lifted its stake in shares of Equinix, Inc. (REIT) (NASDAQ:EQIX) by 83.2% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 174 shares of the financial services provider’s stock after acquiring an additional 79 shares during the quarter. First Horizon Advisors Inc.’s holdings in Equinix were worth $138,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in Equinix by 1.4% during the second quarter. Vanguard Group Inc. now owns 11,515,195 shares of the financial services provider’s stock valued at $9,242,096,000 after buying an additional 157,749 shares during the period. BlackRock Inc. increased its holdings in Equinix by 9.1% during the second quarter. BlackRock Inc. now owns 7,983,827 shares of the financial services provider’s stock valued at $6,407,816,000 after buying an additional 665,274 shares during the period. State Street Corp increased its holdings in Equinix by 15.9% during the second quarter. State Street Corp now owns 3,876,350 shares of the financial services provider’s stock valued at $3,111,159,000 after buying an additional 530,748 shares during the period. Capital International Investors increased its holdings in Equinix by 6.3% during the second quarter. Capital International Investors now owns 2,400,151 shares of the financial services provider’s stock valued at $1,926,341,000 after buying an additional 141,383 shares during the period. Finally, Geode Capital Management LLC increased its holdings in Equinix by 5.8% during the second quarter. Geode Capital Management LLC now owns 1,681,359 shares of the financial services provider’s stock valued at $1,345,942,000 after buying an additional 91,474 shares during the period. 93.64% of the stock is currently owned by institutional investors and hedge funds.

EQIX has been the subject of several recent analyst reports. Royal Bank of Canada lowered their target price on shares of Equinix from $885.00 to $850.00 and set an “outperform” rating for the company in a research note on Monday, November 15th. Barclays lowered their target price on shares of Equinix from $939.00 to $888.00 and set an “overweight” rating for the company in a research note on Friday. Cowen downgraded shares of Equinix from an “outperform” rating to a “market perform” rating and set a $880.00 target price for the company. in a research note on Thursday, November 4th. TheStreet downgraded shares of Equinix from a “b-” rating to a “c” rating in a research note on Thursday, September 30th. Finally, Wells Fargo & Company lowered their target price on shares of Equinix from $890.00 to $825.00 and set an “overweight” rating for the company in a research note on Wednesday. Seven analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $875.22.

NASDAQ EQIX opened at $746.76 on Friday. The company has a market capitalization of $67.24 billion, a PE ratio of 157.21, a P/E/G ratio of 2.86 and a beta of 0.36. The company has a fifty day moving average of $800.74 and a 200 day moving average of $813.59. Equinix, Inc. has a 1 year low of $586.73 and a 1 year high of $885.26. The company has a debt-to-equity ratio of 1.28, a current ratio of 1.63 and a quick ratio of 1.63.

Equinix (NASDAQ:EQIX) last posted its earnings results on Wednesday, November 3rd. The financial services provider reported $1.68 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.97 by ($4.29). The business had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.68 billion. Equinix had a net margin of 6.59% and a return on equity of 6.01%. The company’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $6.48 earnings per share. Research analysts expect that Equinix, Inc. will post 24.11 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 15th. Shareholders of record on Wednesday, November 17th were issued a $2.87 dividend. The ex-dividend date of this dividend was Tuesday, November 16th. This represents a $11.48 dividend on an annualized basis and a yield of 1.54%. Equinix’s payout ratio is 241.68%.

In other Equinix news, insider Brandi Galvin Morandi sold 143 shares of Equinix stock in a transaction on Monday, November 8th. The shares were sold at an average price of $783.00, for a total value of $111,969.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Christopher B. Paisley sold 75 shares of Equinix stock in a transaction on Tuesday, November 16th. The shares were sold at an average price of $798.27, for a total transaction of $59,870.25. The disclosure for this sale can be found here. Insiders sold 1,218 shares of company stock valued at $971,829 in the last ninety days. 13.20% of the stock is owned by corporate insiders.

Equinix Profile

Equinix, Inc engages in the provision of collocation space and develops data centre solutions. The firm offers secure key management, consulting, network virtualization, customer support, and managed services. It operates through the following geographical segments: Americas, Europe, Middle East & Africa and Asia-Pacific.

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Institutional Ownership by Quarter for Equinix (NASDAQ:EQIX)

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