Assetmark Inc buys $9,952,418 stake in Equinix Inc (EQIX)

Equinix Inc (EQIX) : Assetmark Inc scooped up 889 additional shares in Equinix Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 8, 2016. The investment management firm now holds a total of 27,063 shares of Equinix Inc which is valued at $9,952,418.Equinix Inc makes up approximately 0.16% of Assetmark Inc’s portfolio.

Other Hedge Funds, Including , Geneva Advisors boosted its stake in EQIX in the latest quarter, The investment management firm added 34,999 additional shares and now holds a total of 85,574 shares of Equinix Inc which is valued at $31,469,839. Equinix Inc makes up approx 0.60% of Geneva Advisors’s portfolio.State Board Of Administration Of Florida Retirement System boosted its stake in EQIX in the latest quarter, The investment management firm added 28,032 additional shares and now holds a total of 106,431 shares of Equinix Inc which is valued at $38,900,531. Equinix Inc makes up approx 0.12% of State Board Of Administration Of Florida Retirement System’s portfolio.State Of Alaska Department Of Revenue reduced its stake in EQIX by selling 3,940 shares or 13.32% in the most recent quarter. The Hedge Fund company now holds 25,649 shares of EQIX which is valued at $9,732,513. Equinix Inc makes up approx 1.00% of State Of Alaska Department Of Revenue’s portfolio.Legacy Private Trust reduced its stake in EQIX by selling 2,899 shares or 75.91% in the most recent quarter. The Hedge Fund company now holds 920 shares of EQIX which is valued at $349,968. Equinix Inc makes up approx 0.05% of Legacy Private Trust’s portfolio.

Equinix Inc opened for trading at $368.76 and hit $372.72 on the upside on Monday, eventually ending the session at $371.33, with a gain of 0.62% or 2.29 points. The heightened volatility saw the trading volume jump to 3,29,135 shares. Company has a market cap of $26,392 M.

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.

Investors should note that on Aug 3, 2016, Equinix Inc announced a cash dividend of $1.7500. The company’s management has announced Aug 22, 2016 as the ex-dividend date and fixed the record date on Aug 24, 2016. The payable date has been fixed on Sep 14, 2016.

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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