Equinix, Inc. (NASDAQ:EQIX) Shares Purchased by Brown Brothers Harriman & Co.

Brown Brothers Harriman & Co. lifted its holdings in shares of Equinix, Inc. (NASDAQ:EQIX) by 58.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 240 shares of the financial services provider’s stock after buying an additional 89 shares during the period. Brown Brothers Harriman & Co.’s holdings in Equinix were worth $226,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the business. Oppenheimer & Co. Inc. grew its stake in shares of Equinix by 61.6% during the 4th quarter. Oppenheimer & Co. Inc. now owns 8,427 shares of the financial services provider’s stock worth $7,946,000 after purchasing an additional 3,212 shares during the period. Bank of New York Mellon Corp increased its holdings in Equinix by 0.4% in the fourth quarter. Bank of New York Mellon Corp now owns 628,059 shares of the financial services provider’s stock valued at $592,191,000 after buying an additional 2,560 shares in the last quarter. National Pension Service lifted its position in shares of Equinix by 1.3% during the 4th quarter. National Pension Service now owns 243,149 shares of the financial services provider’s stock valued at $229,263,000 after acquiring an additional 3,164 shares during the period. Brookfield Corp ON increased its stake in Equinix by 67.3% in the 3rd quarter. Brookfield Corp ON now owns 80,760 shares of the financial services provider’s stock valued at $71,685,000 after purchasing an additional 32,481 shares in the last quarter. Finally, Empowered Funds LLC raised its stake in shares of Equinix by 19.2% during the 4th quarter. Empowered Funds LLC now owns 2,504 shares of the financial services provider’s stock worth $2,361,000 after buying an additional 404 shares during the last quarter. 94.94% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on EQIX shares. Citizens Jmp raised Equinix to a “strong-buy” rating in a research note on Monday, January 27th. Wells Fargo & Company cut their target price on shares of Equinix from $1,075.00 to $1,065.00 and set an “overweight” rating for the company in a research note on Thursday, February 13th. Scotiabank lifted their price target on shares of Equinix from $1,033.00 to $1,040.00 and gave the stock a “sector outperform” rating in a report on Monday, March 3rd. Truist Financial reduced their price objective on shares of Equinix from $1,028.00 to $990.00 and set a “buy” rating on the stock in a research note on Monday, March 10th. Finally, Barclays lifted their target price on shares of Equinix from $822.00 to $834.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 20th. Two equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $1,007.59.

Equinix Price Performance

Shares of NASDAQ EQIX opened at $815.35 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. The company has a market capitalization of $79.36 billion, a price-to-earnings ratio of 95.36, a price-to-earnings-growth ratio of 1.78 and a beta of 0.74. Equinix, Inc. has a twelve month low of $684.14 and a twelve month high of $994.03. The business has a 50 day simple moving average of $893.95 and a 200-day simple moving average of $908.64.

Equinix (NASDAQ:EQIX) last posted its quarterly earnings results on Wednesday, February 12th. The financial services provider reported $7.92 earnings per share (EPS) for the quarter, topping 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%. As a group, equities research 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 was paid on Wednesday, March 19th. Stockholders of record on Wednesday, February 26th were issued a dividend of $4.69 per share. This is an increase from Equinix’s previous quarterly dividend of $4.26. The ex-dividend date of this dividend was Wednesday, February 26th. This represents a $18.76 annualized dividend and a dividend yield of 2.30%. Equinix’s payout ratio is 219.42%.

Insider Buying and Selling at Equinix

In other Equinix news, insider Brandi Galvin Morandi sold 684 shares of the business’s stock in a transaction 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 completion of the transaction, the insider now owns 8,377 shares in the company, valued at approximately $7,878,652.27. The trade was a 7.55 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Keith D. Taylor sold 2,454 shares of the company’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $929.34, for a total transaction of $2,280,600.36. Following the completion of the sale, the chief financial officer now directly owns 24,402 shares of the company’s stock, valued at $22,677,754.68. The trade was a 9.14 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 19,054 shares of company stock valued at $17,466,950 in the last ninety days. Company insiders own 0.27% of the company’s stock.

About Equinix

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.