Raouf Abdel Sells 159 Shares of Equinix (NASDAQ:EQIX) Stock

Equinix, Inc. (NASDAQ:EQIX) EVP Raouf Abdel sold 159 shares of the firm’s stock in a transaction on Tuesday, December 2nd. The shares were sold at an average price of $731.19, for a total value of $116,259.21. Following the transaction, the executive vice president owned 6,584 shares in the company, valued at approximately $4,814,154.96. This represents a 2.36% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Raouf Abdel also recently made the following trade(s):

• On Tuesday, September 9th, Raouf Abdel sold 404 shares of Equinix stock. The stock was sold at an average price of $771.11, for a total transaction of $311,528.44.

Equinix Stock Down 0.9%

Shares of Equinix stock opened at $726.09 on Friday. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.62 and a quick ratio of 1.62. The stock has a market cap of $71.29 billion, a price-to-earnings ratio of 66.49, a PEG ratio of 1.49 and a beta of 1.05. The firm’s 50-day moving average is $794.01 and its two-hundred day moving average is $806.06. Equinix, Inc. has a 1 year low of $701.41 and a 1 year high of $989.84.

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

Equinix Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 17th. Shareholders of record on Wednesday, November 19th will be given a dividend of $4.69 per share. This represents a $18.76 annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend is Wednesday, November 19th. Equinix’s dividend payout ratio (DPR) is 171.79%.

Institutional Trading of Equinix

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Allworth Financial LP grew its stake in Equinix by 21.5% during the 3rd quarter. Allworth Financial LP now owns 2,138 shares of the financial services provider’s stock valued at $1,674,000 after purchasing an additional 379 shares during the last quarter. IFP Advisors Inc lifted its holdings in shares of Equinix by 31.6% during the third quarter. IFP Advisors Inc now owns 567 shares of the financial services provider’s stock worth $471,000 after purchasing an additional 136 shares during the period. Swiss Life Asset Management Ltd boosted its position in Equinix by 5.2% in the third quarter. Swiss Life Asset Management Ltd now owns 18,073 shares of the financial services provider’s stock valued at $14,155,000 after buying an additional 893 shares during the last quarter. Groupama Asset Managment boosted its position in Equinix by 1.2% in the third quarter. Groupama Asset Managment now owns 32,315 shares of the financial services provider’s stock valued at $25,310,000 after buying an additional 382 shares during the last quarter. Finally, CIBC Bancorp USA Inc. acquired a new position in Equinix in the 3rd quarter worth approximately $34,282,000. Institutional investors and hedge funds own 94.94% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Zacks Research lowered Equinix from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 19th. JPMorgan Chase & Co. increased their price target on shares of Equinix from $940.00 to $950.00 and gave the company an “overweight” rating in a research report on Thursday, October 30th. Truist Financial raised their price target on shares of Equinix from $961.00 to $973.00 and gave the company a “buy” rating in a report on Tuesday, November 18th. Barclays boosted their price objective on shares of Equinix from $798.00 to $804.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 20th. Finally, Cowen restated a “buy” rating on shares of Equinix in a research note on Thursday, October 30th. Four research analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $961.33.

About Equinix

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.