Keith Taylor Sells 2,051 Shares of Equinix (NASDAQ:EQIX) Stock

Equinix, Inc. (NASDAQ:EQIX) CFO Keith Taylor sold 2,051 shares of the company’s stock in a transaction that occurred on Friday, January 16th. The stock was sold at an average price of $804.17, for a total value of $1,649,352.67. Following the completion of the sale, the chief financial officer owned 26,373 shares in the company, valued at approximately $21,208,375.41. This represents a 7.22% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Equinix Price Performance

Shares of EQIX stock traded down $17.58 during mid-day trading on Tuesday, reaching $784.20. The stock had a trading volume of 496,784 shares, compared to its average volume of 538,161. Equinix, Inc. has a 12-month low of $701.41 and a 12-month high of $953.41. The company has a current ratio of 1.62, a quick ratio of 1.62 and a debt-to-equity ratio of 1.32. The business has a 50-day simple moving average of $765.68 and a 200 day simple moving average of $782.56. The company has a market cap of $77.00 billion, a P/E ratio of 71.81, a price-to-earnings-growth ratio of 1.25 and a beta of 1.05.

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

Equinix Dividend Announcement

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

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the business. Westside Investment Management Inc. raised its stake in shares of Equinix by 190.9% in the 2nd quarter. Westside Investment Management Inc. now owns 32 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 21 shares during the period. Ameriflex Group Inc. boosted its holdings in Equinix by 433.3% in the third quarter. Ameriflex Group Inc. now owns 32 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 26 shares during the last quarter. Atlantic Union Bankshares Corp acquired a new stake in Equinix during the 2nd quarter valued at approximately $26,000. Bank of Jackson Hole Trust increased its holdings in Equinix by 70.0% during the 2nd quarter. Bank of Jackson Hole Trust now owns 34 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 14 shares during the last quarter. Finally, Abound Wealth Management raised its position in shares of Equinix by 209.1% in the 3rd quarter. Abound Wealth Management now owns 34 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 23 shares in the last quarter. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Analyst Ratings Changes

EQIX has been the subject of a number of analyst reports. TD Cowen boosted their price target on Equinix from $993.00 to $995.00 and gave the stock a “buy” rating in a report on Thursday, October 30th. Scotiabank cut their target price on shares of Equinix from $965.00 to $959.00 and set a “sector outperform” rating for the company in a research note on Wednesday, January 14th. BMO Capital Markets raised shares of Equinix from a “market perform” rating to an “outperform” rating and set a $900.00 price target on the stock in a research note on Wednesday, December 3rd. The Goldman Sachs Group lowered shares of Equinix from a “buy” rating to a “neutral” rating and set a $795.00 price objective for the company. in a research report on Thursday, December 18th. Finally, Citigroup reaffirmed a “buy” rating on shares of Equinix in a research note on Thursday, December 11th. Four investment analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price 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.