Equinix, Inc. (NASDAQ:EQIX) Position Trimmed by Brown Financial Advisors

Brown Financial Advisors reduced its holdings in Equinix, Inc. (NASDAQ:EQIX) by 6.1% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 1,027 shares of the financial services provider’s stock after selling 67 shares during the period. Brown Financial Advisors’ holdings in Equinix were worth $968,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of EQIX. Kestra Investment Management LLC acquired a new stake in Equinix during the fourth quarter worth about $31,000. GHP Investment Advisors Inc. raised its position in shares of Equinix by 50.0% during the 3rd quarter. GHP Investment Advisors Inc. now owns 39 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 13 shares during the period. Fortitude Family Office LLC raised its position in shares of Equinix by 50.0% during the 3rd quarter. Fortitude Family Office LLC now owns 39 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 13 shares during the period. Sierra Ocean LLC bought a new stake in shares of Equinix in the 4th quarter worth approximately $42,000. Finally, Dunhill Financial LLC boosted its position in Equinix by 108.7% during the 3rd quarter. Dunhill Financial LLC now owns 48 shares of the financial services provider’s stock valued at $43,000 after purchasing an additional 25 shares during the period. 94.94% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on EQIX. BMO Capital Markets cut their target price on Equinix from $1,085.00 to $1,065.00 and set an “outperform” rating on the stock in a research note on Thursday, February 13th. JMP Securities reiterated a “market outperform” rating and issued a $1,200.00 price objective on shares of Equinix in a research report on Thursday, February 13th. Truist Financial upped their target price on shares of Equinix from $935.00 to $1,090.00 and gave the stock a “buy” rating in a research report on Friday, November 29th. Moffett Nathanson upgraded shares of Equinix from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 5th. Finally, TD Cowen boosted their price objective on Equinix from $865.00 to $984.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Three research analysts have rated the stock with a hold rating, fifteen have given a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $994.82.

Equinix Trading Down 1.2 %

NASDAQ:EQIX opened at $909.01 on Tuesday. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 1.19. Equinix, Inc. has a 1-year low of $684.14 and a 1-year high of $994.03. The firm has a market capitalization of $88.48 billion, a price-to-earnings ratio of 106.32, a PEG ratio of 1.78 and a beta of 0.72. The business’s 50-day moving average price is $930.29 and its two-hundred day moving average price is $903.41.

Equinix (NASDAQ:EQIX) last announced its quarterly earnings results on Wednesday, February 12th. The financial services provider reported $7.92 earnings per share for the quarter, beating analysts’ consensus estimates of $2.75 by $5.17. Equinix had a net margin of 9.32% and a return on equity of 6.31%. On average, equities analysts expect that Equinix, Inc. will post 33.1 earnings per share for the current year.

Equinix Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, February 26th will be issued a $4.69 dividend. This is a positive change from Equinix’s previous quarterly dividend of $4.26. The ex-dividend date is Wednesday, February 26th. This represents a $18.76 annualized dividend and a dividend yield of 2.06%. Equinix’s payout ratio is 219.42%.

Insider Activity at Equinix

In related news, Chairman Charles J. Meyers sold 5,788 shares of the business’s stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $909.81, for a total value of $5,265,980.28. Following the completion of the transaction, the chairman now directly owns 15,233 shares in the company, valued at approximately $13,859,135.73. The trade was a 27.53 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Brandi Galvin Morandi sold 684 shares of the firm’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $940.51, for a total transaction of $643,308.84. Following the sale, the insider now owns 8,377 shares in the company, valued at $7,878,652.27. This trade represents a 7.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 23,741 shares of company stock worth $21,988,532 in the last quarter. Corporate insiders own 0.27% of the company’s stock.

Equinix Company Profile

Equinix (Nasdaq: EQIX) is the world's digital infrastructure company . Digital leaders harness Equinix's trusted platform to bring together and interconnect foundational infrastructure at software speed. Equinix enables organizations to access all the right places, partners and possibilities to scale with agility, speed the launch of digital services, deliver world-class experiences and multiply their value, while supporting their sustainability goals.