Skytop Capital Management Lowers stake in Equinix Inc (EQIX)

Equinix Inc (EQIX) : Skytop Capital Management reduced its stake in Equinix Inc by 11.49% during the most recent quarter end. The investment management company now holds a total of 50,000 shares of Equinix Inc which is valued at $18,452,000 after selling 6,492 shares in Equinix Inc , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.Equinix Inc makes up approximately 15.08% of Skytop Capital Management’s portfolio.

Other Hedge Funds, Including , Wellington Management Group Llp boosted its stake in EQIX in the latest quarter, The investment management firm added 71,394 additional shares and now holds a total of 796,024 shares of Equinix Inc which is valued at $293,764,697. Equinix Inc makes up approx 0.07% of Wellington Management Group Llp’s portfolio.New York State Common Retirement Fund boosted its stake in EQIX in the latest quarter, The investment management firm added 18,900 additional shares and now holds a total of 162,163 shares of Equinix Inc which is valued at $59,844,634. Equinix Inc makes up approx 0.08% of New York State Common Retirement Fund’s portfolio.Keybank National Associationoh reduced its stake in EQIX by selling 31 shares or 1.84% in the most recent quarter. The Hedge Fund company now holds 1,651 shares of EQIX which is valued at $609,285.Janney Montgomery Scott boosted its stake in EQIX in the latest quarter, The investment management firm added 161 additional shares and now holds a total of 2,349 shares of Equinix Inc which is valued at $858,560. Equinix Inc makes up approx 0.01% of Janney Montgomery Scott’s portfolio.Bbva Compass Bancshares Inc boosted its stake in EQIX in the latest quarter, The investment management firm added 792 additional shares and now holds a total of 2,117 shares of Equinix Inc which is valued at $789,366. Equinix Inc makes up approx 0.06% of Bbva Compass Bancshares Inc’s portfolio.

Equinix Inc closed down -1.89 points or -0.51% at $366.76 with 4,52,277 shares getting traded on Thursday. Post opening the session at $368.41, the shares hit an intraday low of $365.01 and an intraday high of $369.665 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

On the company’s financial health, Equinix Inc reported $3.55 EPS for the quarter, beating the analyst consensus estimate by $ 0.45 according to the earnings call on Aug 3, 2016. Analyst had a consensus of $3.10. The company had revenue of $900.50 million for the quarter, compared to analysts expectations of $894.28 million. The company’s revenue was up 35.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.03 EPS.

Many Wall Street Analysts have commented on Equinix Inc. Company shares were Reiterated by Canaccord Genuity on Aug 12, 2016 to “Buy”, Firm has raised the Price Target to $ 420 from a previous price target of $390 .Company shares were Reiterated by RBC Capital Mkts on Aug 8, 2016 to “Outperform”, Firm has raised the Price Target to $ 429 from a previous price target of $382 .Equinix Inc was Downgraded by Jefferies to ” Hold” on Jul 15, 2016.

Equinix Inc. is a networking company. The Company provides data center offerings primarily consisting of colocation interconnection solutions and managed IT infrastructure services. The Company’s colocation offerings include Cabinets Power and IBXflex. Cabinets allows customer for colocating networking server and storage equipment. Power is an element of increasing importance in customers’ colocation decisions. IBXflex allows customers to deploy mission-critical operations personnel and equipment on-site at its IBX data centers. The Company’s interconnection solutions enable scalable reliable and cost-effective interconnection and traffic exchange between Equinix customers. The Company offers managed IT infrastructure services such as Equinix Professional Services which offers practical guidance and proven solutions to help customers optimize and future-proof the data center architectures.

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