Insider Selling: Equinix (NASDAQ:EQIX) Chairman Sells 2,094 Shares of Stock

Equinix, Inc. (NASDAQ:EQIX) Chairman Charles Meyers sold 2,094 shares of the business’s stock in a transaction that occurred on Friday, January 16th. The stock was sold at an average price of $804.14, for a total transaction of $1,683,869.16. Following the sale, the chairman directly owned 13,253 shares of the company’s stock, valued at approximately $10,657,267.42. This trade represents a 13.64% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Equinix Trading Down 2.2%

EQIX traded down $17.58 during trading on Tuesday, reaching $784.20. 496,784 shares of the company’s stock were exchanged, compared to its average volume of 538,161. The company’s fifty day moving average price is $765.68 and its 200-day moving average price is $782.56. The firm has a market capitalization of $77.00 billion, a PE ratio of 71.81, a P/E/G ratio of 1.25 and a beta of 1.05. Equinix, Inc. has a fifty-two week low of $701.41 and a fifty-two week high of $953.41. The company has a debt-to-equity ratio of 1.32, a quick ratio of 1.62 and a current ratio of 1.62.

Equinix (NASDAQ:EQIX) last posted its quarterly earnings results on Wednesday, October 29th. The financial services provider reported $9.83 earnings per share for the quarter, beating analysts’ consensus estimates of $9.27 by $0.56. Equinix had a return on equity of 7.70% and a net margin of 11.82%.The company had revenue of $2.32 billion for the quarter, compared to the consensus estimate of $2.33 billion. During the same quarter in the prior year, the business posted $9.05 EPS. The firm’s quarterly revenue was up 5.2% on a year-over-year basis. Equinix has set its FY 2025 guidance at 37.950-38.77 EPS. As a group, equities analysts forecast that Equinix, Inc. will post 33.1 EPS for the current year.

Equinix Announces Dividend

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

Institutional Trading of Equinix

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Campbell & CO Investment Adviser LLC increased its position in Equinix by 21.1% in the second quarter. Campbell & CO Investment Adviser LLC now owns 384 shares of the financial services provider’s stock worth $305,000 after buying an additional 67 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. grew its position in shares of Equinix by 1.4% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 544,462 shares of the financial services provider’s stock valued at $426,444,000 after purchasing an additional 7,409 shares in the last quarter. Cbre Investment Management Listed Real Assets LLC boosted its stake in Equinix by 13.5% in the 2nd quarter. Cbre Investment Management Listed Real Assets LLC now owns 485,538 shares of the financial services provider’s stock worth $386,231,000 after purchasing an additional 57,630 shares during the period. Nordea Investment Management AB lifted its holdings in shares of Equinix by 7.3% in the third quarter. Nordea Investment Management AB now owns 483,483 shares of the financial services provider’s stock worth $376,193,000 after buying an additional 32,790 shares in the last quarter. Finally, Hudson Bay Capital Management LP grew its stake in Equinix by 5,346.3% during the second quarter. Hudson Bay Capital Management LP now owns 14,705 shares of the financial services provider’s stock valued at $11,697,000 after acquiring an additional 14,435 shares in the last quarter. Institutional investors and hedge funds own 94.94% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on the company. JPMorgan Chase & Co. boosted their price target on Equinix from $940.00 to $950.00 and gave the company an “overweight” rating in a report on Thursday, October 30th. TD Cowen upped their price objective on Equinix from $993.00 to $995.00 and gave the stock a “buy” rating in a research note on Thursday, October 30th. Morgan Stanley initiated coverage on shares of Equinix in a research note on Thursday, October 16th. They set an “overweight” rating and a $950.00 price objective on the stock. Citigroup restated a “buy” rating on shares of Equinix in a research note on Thursday, December 11th. Finally, Wall Street Zen lowered Equinix from a “hold” rating to a “sell” rating in a report on Saturday, January 10th. Four research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $959.64.

Equinix Company Profile

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.