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

Equinix, Inc. (NASDAQ:EQIX) EVP Raouf Abdel sold 159 shares of the company’s stock in a transaction dated Tuesday, December 2nd. The shares were sold at an average price of $731.19, for a total transaction 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. The trade was a 2.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

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 Trading Up 0.7%

EQIX opened at $732.72 on Thursday. Equinix, Inc. has a fifty-two week low of $701.41 and a fifty-two week high of $989.84. The company has a market cap of $71.95 billion, a price-to-earnings ratio of 67.10, a price-to-earnings-growth ratio of 1.49 and a beta of 1.05. 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 firm has a 50 day simple moving average of $795.15 and a 200 day simple moving average of $806.62.

Equinix (NASDAQ:EQIX) last issued its earnings results on Wednesday, October 29th. The financial services provider reported $9.83 EPS 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 company had revenue of $2.32 billion during the quarter, compared to analysts’ expectations of $2.33 billion. During the same quarter in the previous year, the company posted $9.05 EPS. The business’s revenue for the quarter was up 5.2% compared to the same quarter last year. 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 announced a quarterly dividend, which will be paid on Wednesday, December 17th. Shareholders of record on Wednesday, November 19th will be issued a dividend of $4.69 per share. The ex-dividend date is Wednesday, November 19th. This represents a $18.76 dividend on an annualized basis and a yield of 2.6%. Equinix’s dividend payout ratio (DPR) is 171.79%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on EQIX. BMO Capital Markets raised Equinix from a “market perform” rating to an “outperform” rating and set a $900.00 price target for the company in a research note on Wednesday. Wall Street Zen upgraded shares of Equinix from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Morgan Stanley initiated coverage on shares of Equinix in a report on Thursday, October 16th. They issued an “overweight” rating and a $950.00 target price on the stock. TD Cowen upped their price objective on shares of Equinix from $993.00 to $995.00 and gave the company a “buy” rating in a research report on Thursday, October 30th. Finally, Citigroup reaffirmed a “market outperform” rating on shares of Equinix in a research note on Tuesday, November 4th. Four equities research analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $961.33.

Institutional Trading of Equinix

Several hedge funds and other institutional investors have recently modified their holdings of EQIX. Valeo Financial Advisors LLC boosted its position in shares of Equinix by 298,148.6% during the second quarter. Valeo Financial Advisors LLC now owns 8,157,100 shares of the financial services provider’s stock worth $6,488,728,000 after buying an additional 8,154,365 shares during the period. Norges Bank bought a new stake in Equinix in the 2nd quarter valued at approximately $892,431,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in Equinix by 408.1% during the 3rd quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,186,497 shares of the financial services provider’s stock worth $929,312,000 after acquiring an additional 953,001 shares during the last quarter. Nuveen LLC bought a new position in shares of Equinix during the 1st quarter worth approximately $662,663,000. Finally, JPMorgan Chase & Co. raised its holdings in shares of Equinix by 25.8% in the third quarter. JPMorgan Chase & Co. now owns 2,875,355 shares of the financial services provider’s stock valued at $2,252,094,000 after purchasing an additional 588,967 shares during the last quarter. Institutional investors and hedge funds own 94.94% of the company’s stock.

Equinix Company Profile

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.