Equinix (NASDAQ:EQIX) CFO Sells $1,649,352.67 in Stock

Equinix, Inc. (NASDAQ:EQIX) CFO Keith Taylor sold 2,051 shares of the company’s stock in a transaction on Friday, January 16th. The stock was sold at an average price of $804.17, for a total transaction of $1,649,352.67. Following the transaction, the chief financial officer owned 26,373 shares of the company’s stock, valued at $21,208,375.41. This represents a 7.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Equinix Trading Down 0.3%

Shares of Equinix stock opened at $792.76 on Friday. The company has a current ratio of 1.62, a quick ratio of 1.62 and a debt-to-equity ratio of 1.32. Equinix, Inc. has a twelve month low of $701.41 and a twelve month high of $953.41. The firm has a market capitalization of $77.84 billion, a PE ratio of 72.60, a P/E/G ratio of 1.24 and a beta of 1.05. The firm’s 50-day moving average price is $764.71 and its 200 day moving average price is $782.70.

Equinix (NASDAQ:EQIX) last posted its quarterly earnings data on Wednesday, October 29th. The financial services provider reported $9.83 EPS for the quarter, topping the consensus estimate of $9.27 by $0.56. The company had revenue of $2.32 billion during the quarter, compared to analyst estimates of $2.33 billion. Equinix had a return on equity of 7.70% and a net margin of 11.82%.Equinix’s quarterly revenue was up 5.2% on a year-over-year basis. During the same period in the previous year, the business earned $9.05 EPS. Equinix has set its FY 2025 guidance at 37.950-38.77 EPS. On average, sell-side analysts predict that Equinix, Inc. will post 33.1 EPS for the current fiscal year.

Equinix Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 17th. Investors of record on Wednesday, November 19th were paid a $4.69 dividend. This represents a $18.76 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend was Wednesday, November 19th. Equinix’s dividend payout ratio is currently 171.79%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on EQIX shares. TD Cowen reaffirmed a “buy” rating on shares of Equinix in a report on Thursday, October 30th. Zacks Research cut shares of Equinix from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 19th. UBS Group set a $959.00 price objective on shares of Equinix in a report on Wednesday, January 14th. Barclays reissued a “positive” rating and issued a $870.00 target price on shares of Equinix in a research note on Tuesday, January 13th. Finally, Daiwa Capital Markets set a $917.00 price target on Equinix and gave the company an “outperform” rating in a research report on Wednesday, October 22nd. Four investment analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Equinix has an average rating of “Moderate Buy” and an average price target of $959.64.

Hedge Funds Weigh In On Equinix

A number of institutional investors have recently bought and sold shares of the company. Valeo Financial Advisors LLC grew its stake in shares of Equinix by 298,148.6% in the 2nd quarter. Valeo Financial Advisors LLC now owns 8,157,100 shares of the financial services provider’s stock valued at $6,488,728,000 after buying an additional 8,154,365 shares during the period. Norges Bank acquired a new position in Equinix in the second quarter valued at approximately $892,431,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Equinix by 408.1% in the third quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,186,497 shares of the financial services provider’s stock valued at $929,312,000 after acquiring an additional 953,001 shares during the last quarter. SG Americas Securities LLC grew its position in Equinix by 377,167.4% in the fourth quarter. SG Americas Securities LLC now owns 716,808 shares of the financial services provider’s stock worth $549,190,000 after acquiring an additional 716,618 shares during the period. Finally, JPMorgan Chase & Co. increased its stake in Equinix by 25.8% during the third quarter. JPMorgan Chase & Co. now owns 2,875,355 shares of the financial services provider’s stock worth $2,252,094,000 after acquiring an additional 588,967 shares during the last quarter. 94.94% of the stock is owned by hedge funds and other institutional investors.

About Equinix

Equinix, Inc is a global provider of digital infrastructure and interconnection services, specializing in carrier-neutral data centers and colocation. The company operates a platform that enables enterprises, cloud and network service providers, and content companies to colocate IT infrastructure, interconnect directly with partners and providers, and access cloud on-ramps and network services in a secure, low-latency environment.

Equinix’s offerings include traditional colocation space and power, cross-connects and meet-me rooms, and a suite of connectivity and on-demand services designed for hybrid multicloud architectures.