Riverpark Advisors Lowers stake in Equinix Inc (EQIX)

Equinix Inc (EQIX) : Riverpark Advisors reduced its stake in Equinix Inc by 24.42% during the most recent quarter end. The investment management company now holds a total of 17,815 shares of Equinix Inc which is valued at $6,597,607 after selling 5,757 shares in Equinix Inc , the firm said in a disclosure report filed with the SEC on Aug 1, 2016.Equinix Inc makes up approximately 3.04% of Riverpark Advisors’s portfolio.

Other Hedge Funds, Including , Zurcher Kantonalbank (zurich Cantonalbank) boosted its stake in EQIX in the latest quarter, The investment management firm added 20,378 additional shares and now holds a total of 31,058 shares of Equinix Inc which is valued at $11,502,020. Equinix Inc makes up approx 0.15% of Zurcher Kantonalbank (zurich Cantonalbank)’s portfolio. Solaris Asset Management sold out all of its stake in EQIX during the most recent quarter. The investment firm sold 100 shares of EQIX which is valued $37,374.Douglas Lane Associates reduced its stake in EQIX by selling 5,367 shares or 2.77% in the most recent quarter. The Hedge Fund company now holds 188,413 shares of EQIX which is valued at $70,417,475. Equinix Inc makes up approx 1.91% of Douglas Lane Associates’s portfolio. Cibc World Markets added EQIX to its portfolio by purchasing 1,174 company shares during the most recent quarter which is valued at $442,434.

Equinix Inc opened for trading at $372.86 and hit $374.18 on the upside on Thursday, eventually ending the session at $371.4, with a gain of 0.29% or 1.06 points. The heightened volatility saw the trading volume jump to 8,93,535 shares. Company has a market cap of $25,786 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.

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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