Douglas Lane Associates Lowers stake in Equinix Inc (EQIX)

Equinix Inc (EQIX) : Douglas Lane Associates reduced its stake in Equinix Inc by 2.77% during the most recent quarter end. The investment management company now holds a total of 188,413 shares of Equinix Inc which is valued at $70,417,475 after selling 5,367 shares in Equinix Inc , the firm said in a disclosure report filed with the SEC on Jul 25, 2016.Equinix Inc makes up approximately 1.91% of Douglas Lane Associates’s portfolio.

Other Hedge Funds, Including , Huntington National Bank boosted its stake in EQIX in the latest quarter, The investment management firm added 618 additional shares and now holds a total of 12,225 shares of Equinix Inc which is valued at $4,568,972. Equinix Inc makes up approx 0.11% of Huntington National Bank’s portfolio.1st Global Advisors boosted its stake in EQIX in the latest quarter, The investment management firm added 134 additional shares and now holds a total of 3,518 shares of Equinix Inc which is valued at $1,325,793. Equinix Inc makes up approx 0.18% of 1st Global Advisors’s portfolio.Sarasin Partners Llp reduced its stake in EQIX by selling 29,569 shares or 4.82% in the most recent quarter. The Hedge Fund company now holds 584,493 shares of EQIX which is valued at $222,341,137. Equinix Inc makes up approx 3.56% of Sarasin Partners Llp’s portfolio.Nn Investment Partners Holdings N.v. boosted its stake in EQIX in the latest quarter, The investment management firm added 48 additional shares and now holds a total of 479 shares of Equinix Inc which is valued at $185,234.

Equinix Inc closed down -7.3 points or -1.92% at $372.87 with 6,07,446 shares getting traded on Friday. Post opening the session at $380, the shares hit an intraday low of $372.8 and an intraday high of $380.86 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

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. Equinix Inc was Downgraded by Jefferies to ” Hold” on Jul 15, 2016. Equinix Inc was Initiated by Goldman to “Buy” on Jul 5, 2016. 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 .

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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