Duff & Phelps Investment Management Co. Acquires Shares of 51,714 Equinix Inc (EQIX)

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Duff & Phelps Investment Management Co. acquired a new stake in Equinix Inc (NASDAQ:EQIX) during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 51,714 shares of the financial services provider’s stock, valued at approximately $23,435,000.

A number of other large investors have also added to or reduced their stakes in the stock. Washington Trust Bank acquired a new stake in shares of Equinix during the first quarter valued at about $29,000. Spectrum Management Group Inc. acquired a new stake in shares of Equinix during the first quarter valued at about $29,000. Farmers & Merchants Investments Inc. boosted its stake 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 purchasing an additional 54 shares in the last quarter. Pearl River Capital LLC acquired a new stake in shares of Equinix during the fourth quarter valued at about $35,000. Finally, Rehmann Capital Advisory Group boosted its stake in shares of Equinix by 158.8% during the third quarter. Rehmann Capital Advisory Group now owns 88 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 54 shares in the last quarter. 98.95% of the stock is currently owned by institutional investors and hedge funds.

EQIX has been the topic of a number of recent research reports. Zacks Investment Research raised Equinix from a “hold” rating to a “strong-buy” rating and set a $484.00 price target on the stock in a research note on Monday, February 18th. Nomura lifted their price target on Equinix from $480.00 to $500.00 and gave the company a “buy” rating in a research note on Friday, March 29th. BidaskClub lowered Equinix from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, April 16th. Citigroup lifted their price target on Equinix from $481.00 to $482.00 and gave the company a “buy” rating in a research note on Friday, March 1st. Finally, Berenberg Bank initiated coverage on Equinix in a research note on Tuesday, January 8th. They set a “buy” rating and a $477.00 price target on the stock. One investment analyst has rated the stock with a sell rating, three have given a hold rating and twelve have assigned a buy rating to the company’s stock. Equinix has a consensus rating of “Buy” and a consensus price target of $493.08.

Equinix stock opened at $453.46 on Thursday. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 1.51. The company has a market capitalization of $36.41 billion, a P/E ratio of 21.92, a P/E/G ratio of 1.59 and a beta of 0.91. Equinix Inc has a one year low of $335.29 and a one year high of $467.99.

Equinix (NASDAQ:EQIX) last posted its quarterly earnings data on Wednesday, February 13th. The financial services provider reported $1.36 EPS for the quarter, missing the Zacks’ consensus estimate of $4.46 by ($3.10). The company had revenue of $1.31 billion during the quarter, compared to analyst estimates of $1.31 billion. Equinix had a return on equity of 6.88% and a net margin of 7.20%. Equinix’s revenue was up 9.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.82 earnings per share. Equities analysts predict that Equinix Inc will post 20.89 earnings per share for the current fiscal year.

In related news, insider Karl Strohmeyer sold 1,135 shares of Equinix stock in a transaction that occurred on Tuesday, February 19th. The stock was sold at an average price of $426.96, for a total value of $484,599.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Michael Earl Campbell sold 250 shares of Equinix stock in a transaction that occurred on Monday, April 22nd. The stock was sold at an average price of $445.74, for a total value of $111,435.00. Following the completion of the transaction, the insider now directly owns 3,578 shares in the company, valued at $1,594,857.72. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 18,143 shares of company stock worth $7,776,844. 0.51% of the stock is owned by insiders.

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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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