Brown Financial Advisors Lowers Stock Holdings in Equinix, Inc. (NASDAQ:EQIX)

Brown Financial Advisors lessened its holdings in shares of Equinix, Inc. (NASDAQ:EQIX) by 6.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,027 shares of the financial services provider’s stock after selling 67 shares during the quarter. Brown Financial Advisors’ holdings in Equinix were worth $968,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. Van ECK Associates Corp lifted its position in Equinix by 9.2% during the third quarter. Van ECK Associates Corp now owns 20,309 shares of the financial services provider’s stock worth $18,099,000 after buying an additional 1,716 shares during the period. Brookfield Corp ON increased its stake in shares of Equinix by 67.3% during the 3rd quarter. Brookfield Corp ON now owns 80,760 shares of the financial services provider’s stock valued at $71,685,000 after acquiring an additional 32,481 shares during the last quarter. Empowered Funds LLC lifted its holdings 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 acquiring an additional 404 shares during the period. Thematics Asset Management boosted its position in shares of Equinix by 17.7% in the third quarter. Thematics Asset Management now owns 39,951 shares of the financial services provider’s stock worth $35,462,000 after acquiring an additional 6,000 shares during the last quarter. Finally, Nordea Investment Management AB grew its holdings in Equinix by 46.1% in the fourth quarter. Nordea Investment Management AB now owns 294,696 shares of the financial services provider’s stock valued at $278,712,000 after purchasing an additional 92,975 shares during the period. Institutional investors and hedge funds own 94.94% of the company’s stock.

Equinix Stock Performance

Equinix stock opened at $909.01 on Tuesday. Equinix, Inc. has a 12-month low of $684.14 and a 12-month high of $994.03. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.63 and a quick ratio of 1.63. The company has a market capitalization of $88.48 billion, a price-to-earnings ratio of 106.32, a price-to-earnings-growth ratio of 1.78 and a beta of 0.72. The firm’s fifty day moving average price is $930.29 and its 200 day moving average price is $903.41.

Equinix (NASDAQ:EQIX) last announced its 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 return on equity of 6.31% and a net margin of 9.32%. On average, research analysts forecast that Equinix, Inc. will post 33.1 EPS for the current fiscal year.

Equinix Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Wednesday, February 26th will be given a $4.69 dividend. This represents a $18.76 dividend on an annualized basis and a dividend yield of 2.06%. This is a positive change from Equinix’s previous quarterly dividend of $4.26. The ex-dividend date of this dividend is Wednesday, February 26th. Equinix’s dividend payout ratio is presently 219.42%.

Insider Activity

In other Equinix news, CFO Keith D. Taylor sold 1,500 shares of the stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $971.18, for a total transaction of $1,456,770.00. Following the transaction, the chief financial officer now directly owns 18,966 shares in the company, valued at $18,419,399.88. This represents a 7.33 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Adaire Fox-Martin sold 2,965 shares of the firm’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $961.62, for a total transaction of $2,851,203.30. Following the transaction, the chief executive officer now directly owns 3,069 shares of the company’s stock, valued at approximately $2,951,211.78. This represents a 49.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 23,741 shares of company stock worth $21,988,532. 0.27% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on EQIX shares. Oppenheimer increased their price target on shares of Equinix from $950.00 to $975.00 and gave the stock an “outperform” rating in a research note on Thursday, February 13th. TD Cowen increased their target price on Equinix from $865.00 to $984.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Citizens Jmp raised Equinix to a “strong-buy” rating in a research report on Monday, January 27th. Scotiabank cut their price objective on Equinix from $1,114.00 to $1,033.00 and set a “sector outperform” rating on the stock in a report on Thursday, February 13th. Finally, Moffett Nathanson raised Equinix from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 5th. Three equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $994.82.

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.