Insider Selling: Equinix (NASDAQ:EQIX) EVP Sells 2,040 Shares of Stock

Equinix, Inc. (NASDAQ:EQIX) EVP Raouf Abdel sold 2,040 shares of the firm’s stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $1,083.47, for a total transaction of $2,210,278.80. Following the transaction, the executive vice president directly owned 5,728 shares of the company’s stock, valued at $6,206,116.16. This represents a 26.26% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

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

• On Thursday, March 12th, Raouf Abdel sold 584 shares of Equinix stock. The shares were sold at an average price of $965.69, for a total value of $563,962.96.

Equinix Stock Performance

Shares of EQIX stock traded down $2.16 on Tuesday, hitting $1,077.63. The company had a trading volume of 1,002,133 shares, compared to its average volume of 607,467. The firm has a market cap of $106.28 billion, a P/E ratio of 74.58, a price-to-earnings-growth ratio of 2.03 and a beta of 1.01. The company has a 50-day moving average price of $1,039.99 and a 200-day moving average price of $897.81. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 1.39. Equinix, Inc. has a twelve month low of $710.52 and a twelve month high of $1,128.68.

Equinix (NASDAQ:EQIX) last issued its quarterly earnings data on Wednesday, April 29th. The financial services provider reported $10.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.30 by $6.49. The business had revenue of $2.44 billion during the quarter, compared to analysts’ expectations of $2.52 billion. Equinix had a return on equity of 10.03% and a net margin of 15.07%.The company’s revenue for the quarter was up 9.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $9.67 EPS. Equinix has set its FY 2026 guidance at 42.310-43.110 EPS. As a group, equities research analysts predict that Equinix, Inc. will post 37.72 earnings per share for the current fiscal year.

Equinix Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 17th. Investors of record on Wednesday, May 20th will be issued a dividend of $5.16 per share. The ex-dividend date of this dividend is Wednesday, May 20th. This represents a $20.64 dividend on an annualized basis and a yield of 1.9%. Equinix’s dividend payout ratio is 142.84%.

Analyst Ratings Changes

EQIX has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. increased their price target on shares of Equinix from $1,100.00 to $1,200.00 and gave the stock an “overweight” rating in a report on Thursday, April 30th. Wall Street Zen raised shares of Equinix from a “sell” rating to a “hold” rating in a report on Saturday, May 2nd. UBS Group raised their price objective on Equinix from $950.00 to $1,010.00 and gave the company a “buy” rating in a report on Thursday, February 12th. Truist Financial set a $1,215.00 price objective on Equinix in a report on Friday, May 1st. Finally, Raymond James Financial raised Equinix from a “market perform” rating to a “strong-buy” rating and set a $1,250.00 price objective on the stock in a report on Thursday, April 30th. Three investment analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $1,143.60.

Institutional Trading of Equinix

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Ameriflex Group Inc. boosted its stake in shares of Equinix by 433.3% in the third quarter. Ameriflex Group Inc. now owns 32 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 26 shares during the last quarter. Avion Wealth boosted its stake in shares of Equinix by 73.3% in the first quarter. Avion Wealth now owns 26 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 11 shares during the last quarter. Kemnay Advisory Services Inc. acquired a new stake in shares of Equinix in the fourth quarter worth approximately $30,000. Princeton Global Asset Management LLC boosted its stake in shares of Equinix by 200.0% in the fourth quarter. Princeton Global Asset Management LLC now owns 42 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 28 shares during the last quarter. Finally, Physician Wealth Advisors Inc. boosted its stake in shares of Equinix by 266.7% in the first quarter. Physician Wealth Advisors Inc. now owns 33 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 24 shares during the last quarter. Hedge funds and other institutional investors own 94.94% of the company’s stock.

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.