Equinix (NASDAQ:EQIX) Chairman Charles Meyers Sells 2,094 Shares

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

Equinix Price Performance

Shares of EQIX traded down $17.58 during trading hours on Tuesday, reaching $784.20. 496,784 shares of the company’s stock traded hands, compared to its average volume of 538,161. 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 12 month low of $701.41 and a 12 month high of $953.41. The stock has a market cap of $77.00 billion, a PE ratio of 71.81, a price-to-earnings-growth ratio of 1.25 and a beta of 1.05. The firm’s 50 day simple moving average is $765.68 and its 200-day simple moving average is $782.56.

Equinix (NASDAQ:EQIX) last posted its quarterly earnings data on Wednesday, October 29th. The financial services provider reported $9.83 earnings per share for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $2.33 billion. During the same quarter last year, the company posted $9.05 EPS. The business’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. Equities analysts expect that Equinix, Inc. will post 33.1 EPS for the current year.

Equinix Dividend Announcement

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

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Westside Investment Management Inc. lifted its position 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 worth $25,000 after purchasing an additional 21 shares during the period. Ameriflex Group Inc. raised its position in shares of Equinix by 433.3% in the 3rd quarter. Ameriflex Group Inc. now owns 32 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 26 shares in the last quarter. Atlantic Union Bankshares Corp purchased a new position in shares of Equinix in the 2nd quarter valued at approximately $26,000. Bank of Jackson Hole Trust boosted its position in shares of Equinix by 70.0% during the second quarter. Bank of Jackson Hole Trust now owns 34 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 14 shares in the last quarter. Finally, Abound Wealth Management grew its stake in Equinix by 209.1% in the third quarter. Abound Wealth Management now owns 34 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 23 shares during the period. 94.94% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

EQIX has been the subject of a number of recent research reports. BMO Capital Markets upgraded shares of Equinix from a “market perform” rating to an “outperform” rating and set a $900.00 price objective for the company in a report on Wednesday, December 3rd. Daiwa Capital Markets set a $917.00 price target on shares of Equinix and gave the stock an “outperform” rating in a research note on Wednesday, October 22nd. Wall Street Zen lowered shares of Equinix from a “hold” rating to a “sell” rating in a research report on Saturday, January 10th. HSBC set a $1,050.00 price target on Equinix and gave the stock a “buy” rating in a research report on Thursday, January 15th. Finally, Barclays reissued a “positive” rating and set a $870.00 price objective on shares of Equinix in a research note on Tuesday, January 13th. Four investment analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $959.64.

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.