Brookfield Corp ON Buys 11,208 Shares of Equinix, Inc. (NASDAQ:EQIX)

Posted by on Sep 12th, 2023

Brookfield Corp ON grew its stake in shares of Equinix, Inc. (NASDAQ:EQIX – Free Report) by 15.0% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 86,041 shares of the financial services provider’s stock after acquiring an additional 11,208 shares during the period. Brookfield Corp ON owned about 0.09% of Equinix worth $62,039,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of EQIX. Tanglewood Legacy Advisors LLC purchased a new stake in shares of Equinix during the 4th quarter valued at approximately $28,000. Venturi Wealth Management LLC purchased a new stake in shares of Equinix during the 1st quarter valued at approximately $28,000. Massmutual Trust Co. FSB ADV lifted its stake in shares of Equinix by 112.5% during the 1st quarter. Massmutual Trust Co. FSB ADV now owns 51 shares of the financial services provider’s stock valued at $37,000 after buying an additional 27 shares in the last quarter. Quarry LP lifted its stake in shares of Equinix by 237.5% during the 1st quarter. Quarry LP now owns 54 shares of the financial services provider’s stock valued at $39,000 after buying an additional 38 shares in the last quarter. Finally, Heritage Wealth Management LLC lifted its stake in shares of Equinix by 100.0% during the 4th quarter. Heritage Wealth Management LLC now owns 62 shares of the financial services provider’s stock valued at $41,000 after buying an additional 31 shares in the last quarter. 93.16% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, CEO Charles J. Meyers sold 7,439 shares of the firm’s stock in a transaction dated Friday, August 11th. The shares were sold at an average price of $770.60, for a total value of $5,732,493.40. Following the completion of the sale, the chief executive officer now directly owns 7,642 shares of the company’s stock, valued at approximately $5,888,925.20. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CEO Charles J. Meyers sold 7,439 shares of the firm’s stock in a transaction dated Friday, August 11th. The shares were sold at an average price of $770.60, for a total value of $5,732,493.40. Following the completion of the sale, the chief executive officer now directly owns 7,642 shares of the company’s stock, valued at approximately $5,888,925.20. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Simon Miller sold 523 shares of the firm’s stock in a transaction dated Tuesday, September 5th. The stock was sold at an average price of $766.77, for a total transaction of $401,020.71. Following the completion of the sale, the chief accounting officer now directly owns 4,262 shares of the company’s stock, valued at $3,267,973.74. The disclosure for this sale can be found here. Insiders have sold a total of 11,584 shares of company stock valued at $8,952,535 in the last quarter. Insiders own 0.32% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on the stock. Raymond James upped their price target on shares of Equinix from $885.00 to $910.00 and gave the company a “strong-buy” rating in a research note on Thursday, August 3rd. Bank of America increased their target price on shares of Equinix from $750.00 to $850.00 in a research note on Friday, June 23rd. Wells Fargo & Company cut shares of Equinix from an “overweight” rating to an “equal weight” rating and set a $810.00 target price on the stock. in a research note on Friday, July 21st. They noted that the move was a valuation call. Deutsche Bank Aktiengesellschaft increased their target price on shares of Equinix from $780.00 to $825.00 and gave the stock a “buy” rating in a research note on Tuesday, August 15th. Finally, Truist Financial cut shares of Equinix from a “buy” rating to a “hold” rating and lowered their target price for the stock from $870.00 to $815.00 in a research note on Tuesday, June 27th. They noted that the move was a valuation call. Eight analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Equinix presently has an average rating of “Moderate Buy” and a consensus price target of $814.57.

View Our Latest Analysis on Equinix

Equinix Price Performance

Shares of Equinix stock opened at $774.62 on Tuesday. The firm has a market cap of $72.48 billion, a PE ratio of 89.34, a price-to-earnings-growth ratio of 1.87 and a beta of 0.65. Equinix, Inc. has a 12-month low of $494.89 and a 12-month high of $821.63. The company has a quick ratio of 2.02, a current ratio of 2.02 and a debt-to-equity ratio of 1.29. The company’s fifty day simple moving average is $782.40 and its two-hundred day simple moving average is $742.34.

Equinix Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 20th. Shareholders of record on Wednesday, August 23rd will be issued a $3.41 dividend. This represents a $13.64 dividend on an annualized basis and a yield of 1.76%. The ex-dividend date of this dividend is Tuesday, August 22nd. Equinix’s dividend payout ratio (DPR) is presently 157.32%.

Equinix Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Equinix (NASDAQ:EQIX)

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