Equinix (NASDAQ:EQIX) EVP Sells $2,210,278.80 in Stock

Key Points

• Equinix EVP Raouf Abdel sold 2,040 shares on May 22 at an average price of $1,083.47, totaling about $2.21 million. After the sale, he still held 5,728 shares, a 26.26% reduction in his position.
• Equinix reported strong quarterly earnings, posting $10.79 EPS, well above analysts’ expectations of $4.30. Revenue came in at $2.44 billion, up 9.8% year over year, though slightly below consensus estimates.
• The stock remains broadly supported by Wall Street, with analysts maintaining a “Moderate Buy” consensus and an average target price of $1,143.60. The company also announced a quarterly dividend of $5.16 per share, payable June 17.

Equinix, Inc. (NASDAQ:EQIX - Get Free Report) EVP Raouf Abdel sold 2,040 shares of the business's stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $1,083.47, for a total transaction of $2,210,278.80. Following the completion of the sale, the executive vice president owned 5,728 shares of the company's stock, valued at approximately $6,206,116.16. This represents a 26.26% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link.

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 transaction of $563,962.96.

Equinix Stock Down 0.2%

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

Equinix (NASDAQ:EQIX - Get Free Report) last issued its quarterly earnings data on Wednesday, April 29th. The financial services provider reported $10.79 earnings per share for the quarter, topping analysts' consensus estimates of $4.30 by $6.49. The firm 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 firm's quarterly revenue was up 9.8% on a year-over-year basis. During the same period in the prior year, the business posted $9.67 EPS. Equinix has set its FY 2026 guidance at 42.310-43.110 EPS. On average, research analysts expect that Equinix, Inc. will post 37.72 earnings per share for the current year.

Equinix Dividend Announcement

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

Hedge Funds Weigh In On Equinix

Several hedge funds have recently made changes to their positions in the company. SJS Investment Consulting Inc. increased its position in shares of Equinix by 27.3% in the 1st quarter. SJS Investment Consulting Inc. now owns 42 shares of the financial services provider's stock valued at $41,000 after acquiring an additional 9 shares during the period. Avion Wealth raised its position in Equinix by 73.3% during the 1st quarter. Avion Wealth now owns 26 shares of the financial services provider's stock worth $25,000 after buying an additional 11 shares during the last quarter. Blue Trust Inc. raised its position in Equinix by 1.3% during the 1st quarter. Blue Trust Inc. now owns 931 shares of the financial services provider's stock worth $912,000 after buying an additional 12 shares during the last quarter. Cornerstone Planning Group LLC raised its position in Equinix by 30.8% during the 1st quarter. Cornerstone Planning Group LLC now owns 51 shares of the financial services provider's stock worth $54,000 after buying an additional 12 shares during the last quarter. Finally, Front Row Advisors LLC raised its position in Equinix by 0.4% during the 1st quarter. Front Row Advisors LLC now owns 3,317 shares of the financial services provider's stock worth $3,251,000 after buying an additional 12 shares during the last quarter. 94.94% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have weighed in on EQIX. Guggenheim restated a "buy" rating and issued a $1,235.00 target price on shares of Equinix in a research note on Wednesday, May 20th. HSBC raised their target price on shares of Equinix from $1,100.00 to $1,250.00 and gave the company a "buy" rating in a research note on Monday, April 27th. Oppenheimer restated an "outperform" rating and issued a $1,200.00 target price on shares of Equinix in a research note on Thursday, April 30th. Scotiabank raised their target price on shares of Equinix from $1,050.00 to $1,120.00 and gave the company a "sector perform" rating in a research note on Thursday, April 30th. Finally, BMO Capital Markets raised their target price on shares of Equinix from $925.00 to $1,050.00 and gave the company an "outperform" rating in a research note on Thursday, February 12th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $1,143.60.

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.

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