Equinix (NASDAQ:EQIX) Insider Sells $4,010,517.36 in Stock

Key Points

• Equinix insider Brandi Galvin Morandi sold 3,726 shares on June 8 for about $4.01 million at an average price of $1,076.36. The sale was made under a pre-arranged Rule 10b5-1 trading plan, and her ownership fell by 37.8%.
• Equinix recently reported better-than-expected earnings, posting $10.79 EPS versus the $4.30 consensus estimate. However, quarterly revenue of $2.44 billion came in slightly below expectations.
• The company also announced a quarterly dividend of $5.16 per share, payable June 17, which works out to an annualized yield of about 1.9%. Analysts remain broadly positive, with a consensus rating of Moderate Buy and an average price target of $1,143.60.

Equinix, Inc. (NASDAQ:EQIX - Get Free Report) insider Brandi Galvin Morandi sold 3,726 shares of the firm's stock in a transaction on Monday, June 8th. The shares were sold at an average price of $1,076.36, for a total transaction of $4,010,517.36. Following the completion of the transaction, the insider directly owned 6,132 shares of the company's stock, valued at $6,600,239.52. This represents a 37.80% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Brandi Galvin Morandi also recently made the following trade(s):

• On Wednesday, April 8th, Brandi Galvin Morandi sold 424 shares of Equinix stock. The shares were sold at an average price of $1,020.00, for a total transaction of $432,480.00.
• On Thursday, March 12th, Brandi Galvin Morandi sold 630 shares of Equinix stock. The shares were sold at an average price of $961.19, for a total transaction of $605,549.70.

Equinix Stock Performance

Equinix stock traded down $18.21 during mid-day trading on Monday, hitting $1,062.74. 404,808 shares of the company's stock traded hands, compared to its average volume of 530,468. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.18 and a quick ratio of 1.18. The firm has a 50 day simple moving average of $1,060.35 and a two-hundred day simple moving average of $916.55. Equinix, Inc. has a fifty-two week low of $710.52 and a fifty-two week high of $1,128.68. The stock has a market cap of $104.81 billion, a price-to-earnings ratio of 73.55, a P/E/G ratio of 2.03 and a beta of 0.99.

Equinix (NASDAQ:EQIX - Get Free Report) last released its quarterly earnings data on Wednesday, April 29th. The financial services provider reported $10.79 EPS for the quarter, topping analysts' consensus estimates of $4.30 by $6.49. Equinix had a net margin of 15.07% and a return on equity of 10.03%. The firm had revenue of $2.44 billion during the quarter, compared to analysts' expectations of $2.52 billion. During the same period in the previous year, the business posted $9.67 earnings per share. The company's revenue for the quarter was up 9.8% compared to the same quarter last year. 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 EPS for the current fiscal year.

Equinix Dividend Announcement

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

Analyst Upgrades and Downgrades

EQIX has been the subject of a number of research analyst reports. Weiss Ratings raised shares of Equinix from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Thursday, May 7th. Truist Financial set a $1,215.00 price objective on shares of Equinix in a research report on Friday, May 1st. Evercore reaffirmed an "outperform" rating and set a $1,240.00 price objective on shares of Equinix in a research report on Tuesday, April 28th. Barclays lifted their target price on Equinix from $1,020.00 to $1,109.00 and gave the stock an "equal weight" rating in a report on Thursday, April 16th. Finally, Stifel Nicolaus set a $1,075.00 target price on shares of Equinix in a research report 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 stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $1,143.60.

Hedge Funds Weigh In On Equinix

Several institutional investors and hedge funds have recently modified their holdings of the business. Avion Wealth raised its stake in Equinix by 73.3% in the first quarter. Avion Wealth now owns 26 shares of the financial services provider's stock valued at $25,000 after purchasing an additional 11 shares in the last quarter. Ameriflex Group Inc. raised its stake in Equinix by 433.3% in the third quarter. Ameriflex Group Inc. now owns 32 shares of the financial services provider's stock valued at $25,000 after purchasing an additional 26 shares in the last quarter. Physician Wealth Advisors Inc. raised its stake in Equinix by 266.7% in the first quarter. Physician Wealth Advisors Inc. now owns 33 shares of the financial services provider's stock valued at $32,000 after purchasing an additional 24 shares in the last quarter. Kemnay Advisory Services Inc. acquired a new position in Equinix in the fourth quarter valued at about $30,000. Finally, Bogart Wealth LLC raised its stake in Equinix by 233.3% in the first quarter. Bogart Wealth LLC now owns 40 shares of the financial services provider's stock valued at $39,000 after purchasing an additional 28 shares in the last quarter. 94.94% of the stock is currently owned by institutional investors and hedge funds.

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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