Firsthand Capital Management Lowers stake in Equinix Inc (EQIX)

Equinix Inc (EQIX) : Firsthand Capital Management reduced its stake in Equinix Inc by 33.27% during the most recent quarter end. The investment management company now holds a total of 10,027 shares of Equinix Inc which is valued at $3.5 Million after selling 5,000 shares in Equinix Inc , the firm said in a disclosure report filed with the SEC on May 13, 2016.Equinix Inc makes up approximately 3.45% of Firsthand Capital Management’s portfolio.

Other Hedge Funds, Including , Global Endowment Management Lp sold out all of its stake in EQIX during the most recent quarter. The investment firm sold 827 shares of EQIX which is valued $284,794.Pacad Investment Ltd. reduced its stake in EQIX by selling 100 shares or 3.57% in the most recent quarter. The Hedge Fund company now holds 2,700 shares of EQIX which is valued at $909,792. Equinix Inc makes up approx 0.11% of Pacad Investment Ltd.’s portfolio. Lmr Partners Llp added EQIX to its portfolio by purchasing 7,255 company shares during the most recent quarter which is valued at $2.4 Million. Equinix Inc makes up approx 0.37% of Lmr Partners Llp’s portfolio.Russell Frank Co boosted its stake in EQIX in the latest quarter, The investment management firm added 9,159 additional shares and now holds a total of 291,695 shares of Equinix Inc which is valued at $96.4 Million. Equinix Inc makes up approx 0.17% of Russell Frank Co’s portfolio.

Equinix Inc opened for trading at $356.74 and hit $359.12 on the upside on Wednesday, eventually ending the session at $357.73, with a gain of 0.85% or 3 points. The heightened volatility saw the trading volume jump to 8,98,682 shares. Company has a market cap of $24,836 M.

On the company’s financial health, Equinix Inc reported $2.14 EPS for the quarter, beating the analyst consensus estimate by $ 0.97 according to the earnings call on Feb 18, 2016. Analyst had a consensus of $1.17. The company had revenue of $730.50 million for the quarter, compared to analysts expectations of $715.52 million. The company’s revenue was up 14.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.93 EPS.

Many Wall Street Analysts have commented on Equinix Inc. Company shares were Reiterated by Canaccord Genuity on May 23, 2016 to “Buy”, Firm has raised the Price Target to $ 390 from a previous price target of $370 .Company shares were Reiterated by Stifel on May 5, 2016 to “Buy”, Firm has raised the Price Target to $ 380 from a previous price target of $340 .Company shares were Reiterated by Barclays on May 5, 2016 to “Equal Weight”, Firm has raised the Price Target to $ 340 from a previous price target of $335 .

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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