Brookstone Capital Management Has $236,000 Stock Position in Equinix, Inc. $EQIX

Brookstone Capital Management lowered its holdings in Equinix, Inc. (NASDAQ:EQIX) by 15.4% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 297 shares of the financial services provider’s stock after selling 54 shares during the quarter. Brookstone Capital Management’s holdings in Equinix were worth $236,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the company. Valeo Financial Advisors LLC lifted its position in shares of Equinix by 298,148.6% during the 2nd quarter. Valeo Financial Advisors LLC now owns 8,157,100 shares of the financial services provider’s stock worth $6,488,728,000 after buying an additional 8,154,365 shares during the period. Nuveen LLC acquired a new stake in shares of Equinix in the 1st quarter valued at $662,663,000. JPMorgan Chase & Co. increased its stake in shares of Equinix by 22.5% in the 1st quarter. JPMorgan Chase & Co. now owns 1,590,568 shares of the financial services provider’s stock valued at $1,296,871,000 after buying an additional 291,753 shares during the period. National Bank of Canada FI increased its stake in shares of Equinix by 169.7% in the 1st quarter. National Bank of Canada FI now owns 394,223 shares of the financial services provider’s stock valued at $321,427,000 after buying an additional 248,075 shares during the period. Finally, Vanguard Group Inc. grew its stake in shares of Equinix by 1.9% during the first quarter. Vanguard Group Inc. now owns 12,906,820 shares of the financial services provider’s stock worth $10,523,576,000 after purchasing an additional 242,121 shares during the period. Institutional investors and hedge funds own 94.94% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on EQIX. Cfra Research cut Equinix from a “moderate buy” rating to a “hold” rating in a research note on Thursday, July 31st. JMP Securities reissued a “market outperform” rating and issued a $1,200.00 target price on shares of Equinix in a research note on Tuesday, July 22nd. Dbs Bank raised Equinix to a “moderate buy” rating in a research note on Wednesday, August 6th. Mizuho cut their price target on Equinix from $1,069.00 to $900.00 and set an “outperform” rating on the stock in a report on Tuesday, July 1st. Finally, Zacks Research upgraded Equinix from a “hold” rating to a “strong-buy” rating in a report on Friday, October 10th. Five research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $957.38.

Equinix Stock Down 3.2%

NASDAQ EQIX opened at $816.13 on Wednesday. The business has a fifty day moving average price of $793.70 and a two-hundred day moving average price of $815.73. The company has a debt-to-equity ratio of 1.29, a current ratio of 1.54 and a quick ratio of 1.54. Equinix, Inc. has a fifty-two week low of $701.41 and a fifty-two week high of $994.03. The stock has a market capitalization of $79.87 billion, a PE ratio of 79.93, a PEG ratio of 1.46 and a beta of 0.92.

Equinix (NASDAQ:EQIX) last announced its quarterly earnings results on Wednesday, July 30th. The financial services provider reported $9.91 EPS for the quarter, beating analysts’ consensus estimates of $3.49 by $6.42. The company had revenue of $2.26 billion during the quarter, compared to analysts’ expectations of $2.26 billion. Equinix had a return on equity of 7.22% and a net margin of 11.11%.Equinix’s revenue was up 4.5% compared to the same quarter last year. During the same period in the prior year, the company earned $9.22 EPS. Equities analysts expect that Equinix, Inc. will post 33.1 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP Raouf Abdel sold 404 shares of Equinix stock in a transaction dated Tuesday, September 9th. The stock was sold at an average price of $771.11, for a total value of $311,528.44. Following the completion of the transaction, the executive vice president directly owned 6,378 shares of the company’s stock, valued at approximately $4,918,139.58. This trade represents a 5.96% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Christopher B. Paisley sold 75 shares of Equinix stock in a transaction on Monday, August 18th. The shares were sold at an average price of $781.50, for a total transaction of $58,612.50. Following the completion of the sale, the director directly owned 17,832 shares of the company’s stock, valued at approximately $13,935,708. The trade was a 0.42% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 0.27% of the company’s stock.

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.