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

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

Equinix Stock Down 2.2%

Equinix stock traded down $17.58 during midday trading on Tuesday, reaching $784.20. The company’s stock had a trading volume of 496,784 shares, compared to its average volume of 538,161. The company has a market cap of $77.00 billion, a P/E ratio of 71.81, a P/E/G ratio of 1.25 and a beta of 1.05. The company has a quick ratio of 1.62, a current 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. Equinix, Inc. has a fifty-two week low of $701.41 and a fifty-two week high of $953.41.

Equinix (NASDAQ:EQIX) last issued its 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. The business had revenue of $2.32 billion for the quarter, compared to analyst estimates of $2.33 billion. Equinix had a return on equity of 7.70% and a net margin of 11.82%.The business’s quarterly revenue was up 5.2% on a year-over-year basis. During the same quarter last year, the company earned $9.05 EPS. Equinix has set its FY 2025 guidance at 37.950-38.77 EPS. On average, research analysts expect that Equinix, Inc. will post 33.1 earnings per share for the current fiscal year.

Equinix Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 17th. Stockholders 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 of this dividend was Wednesday, November 19th. Equinix’s payout ratio is presently 171.79%.

Hedge Funds Weigh In On Equinix

A number of large investors have recently modified their holdings of the business. Brighton Jones LLC raised its position in Equinix by 28.9% in the fourth quarter. Brighton Jones LLC now owns 326 shares of the financial services provider’s stock worth $307,000 after acquiring an additional 73 shares in the last quarter. Integrated Wealth Concepts LLC grew its stake in shares of Equinix by 11.5% during the 1st quarter. Integrated Wealth Concepts LLC now owns 522 shares of the financial services provider’s stock worth $425,000 after purchasing an additional 54 shares during the period. Empowered Funds LLC grew its stake in shares of Equinix by 21.8% during the 1st quarter. Empowered Funds LLC now owns 3,050 shares of the financial services provider’s stock worth $2,487,000 after purchasing an additional 546 shares during the period. Pallas Capital Advisors LLC acquired a new stake in shares of Equinix in the second quarter valued at about $284,000. Finally, Wealth Enhancement Advisory Services LLC boosted its holdings in Equinix by 13.4% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 5,169 shares of the financial services provider’s stock worth $4,068,000 after buying an additional 612 shares in the last quarter. 94.94% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Truist Financial boosted their price objective on Equinix from $961.00 to $973.00 and gave the company a “buy” rating in a research note on Tuesday, November 18th. Morgan Stanley assumed coverage on shares of Equinix in a research report on Thursday, October 16th. They set an “overweight” rating and a $950.00 price objective on the stock. HSBC set a $1,050.00 price objective on shares of Equinix and gave the company a “buy” rating in a research note on Thursday, January 15th. Barclays reissued a “positive” rating and set a $870.00 price target on shares of Equinix in a report on Tuesday, January 13th. Finally, Cowen reaffirmed 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-one have assigned a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average 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.