Equinix, Inc. (NASDAQ:EQIX) Stock Position Raised by Brown Brothers Harriman & Co.

Brown Brothers Harriman & Co. lifted its stake in shares of Equinix, Inc. (NASDAQ:EQIX) by 58.9% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 240 shares of the financial services provider’s stock after purchasing 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 quarter.

Several other hedge funds have also modified their holdings of EQIX. DnB Asset Management AS lifted its position in shares of Equinix by 89.5% in the 4th quarter. DnB Asset Management AS now owns 34,352 shares of the financial services provider’s stock valued at $32,390,000 after acquiring an additional 16,227 shares in the last quarter. Level Four Advisory Services LLC boosted its holdings in shares of Equinix by 4.0% during the fourth quarter. Level Four Advisory Services LLC now owns 524 shares of the financial services provider’s stock worth $494,000 after purchasing an additional 20 shares during the period. Nomura Asset Management Co. Ltd. boosted its stake in shares of Equinix by 8.1% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 159,718 shares of the financial services provider’s stock valued at $150,597,000 after buying an additional 11,949 shares during the period. Boussard & Gavaudan Investment Management LLP acquired a new position in shares of Equinix in the fourth quarter worth $5,422,000. Finally, Duff & Phelps Investment Management Co. raised its holdings in shares of Equinix by 0.9% during the fourth quarter. Duff & Phelps Investment Management Co. now owns 428,291 shares of the financial services provider’s stock worth $403,831,000 after acquiring an additional 3,756 shares in the last quarter. 94.94% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, insider Brandi Galvin Morandi sold 684 shares of the business’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $940.51, for a total value of $643,308.84. Following the sale, the insider now owns 8,377 shares of the company’s stock, valued at $7,878,652.27. The trade was a 7.55 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Keith D. Taylor sold 2,454 shares of the 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 transaction, the chief financial officer now owns 24,402 shares of the company’s stock, valued at approximately $22,677,754.68. This represents a 9.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 19,054 shares of company stock valued at $17,466,950. 0.27% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have weighed in on EQIX. Barclays upped their target price on Equinix from $822.00 to $834.00 and gave the stock an “equal weight” rating in a research report on Thursday, March 20th. Mizuho reduced their target price on shares of Equinix from $1,094.00 to $1,053.00 and set an “outperform” rating for the company in a research note on Friday. BMO Capital Markets dropped their price target on shares of 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. Oppenheimer boosted their price target on Equinix from $950.00 to $975.00 and gave the stock an “outperform” rating in a research report on Thursday, February 13th. Finally, Truist Financial decreased their price objective on shares of Equinix from $1,028.00 to $990.00 and set a “buy” rating for the company in a report on Monday, March 10th. Two research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat, Equinix presently has an average rating of “Buy” and an average price target of $1,007.59.

Equinix Price Performance

Equinix stock opened at $815.35 on Tuesday. Equinix, Inc. has a 52 week low of $684.14 and a 52 week high of $994.03. The firm has a market cap of $79.36 billion, a P/E ratio of 95.36, a P/E/G ratio of 1.78 and a beta of 0.74. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.63 and a current ratio of 1.63. The business’s fifty day moving average is $893.95 and its two-hundred day moving average is $908.64.

Equinix (NASDAQ:EQIX) last posted its quarterly earnings data on Wednesday, February 12th. The financial services provider reported $7.92 earnings per share for the quarter, beating the consensus estimate of $2.75 by $5.17. Equinix had a net margin of 9.32% and a return on equity of 6.31%. Equities research analysts forecast that Equinix, Inc. will post 33.1 earnings per share for the current fiscal 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 $4.69 dividend. This is a positive change from Equinix’s previous quarterly dividend of $4.26. The ex-dividend date 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%.

Equinix 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.