Adaire Fox-Martin Sells 2,670 Shares of Equinix (NASDAQ:EQIX) Stock

Equinix, Inc. (NASDAQ:EQIX) CEO Adaire Fox-Martin sold 2,670 shares of the stock in a transaction dated Friday, January 16th. The shares were sold at an average price of $804.08, for a total value of $2,146,893.60. Following the sale, the chief executive officer owned 14,857 shares of the company’s stock, valued at $11,946,216.56. This represents a 15.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Adaire Fox-Martin also recently made the following trade(s):

• On Tuesday, December 2nd, Adaire Fox-Martin sold 2,894 shares of Equinix stock. The stock was sold at an average price of $731.09, for a total transaction of $2,115,774.46.

Equinix Trading Down 2.2%

Equinix stock traded down $17.58 during trading hours on Tuesday, reaching $784.20. The stock had a trading volume of 496,784 shares, compared to its average volume of 538,161. The company has a fifty day simple moving average of $765.68 and a 200-day simple moving average of $782.56. Equinix, Inc. has a 52 week low of $701.41 and a 52 week high of $953.41. The stock has a market cap of $77.00 billion, a PE ratio of 71.81, a PEG ratio of 1.25 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.

Equinix (NASDAQ:EQIX) last posted its earnings results on Wednesday, October 29th. The financial services provider reported $9.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $9.27 by $0.56. Equinix had a return on equity of 7.70% and a net margin of 11.82%.The company had revenue of $2.32 billion for the quarter, compared to analysts’ expectations of $2.33 billion. During the same period last year, the firm earned $9.05 earnings per share. Equinix’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. Analysts forecast that Equinix, Inc. will post 33.1 EPS for the current fiscal year.

Equinix Announces Dividend

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Westside Investment Management Inc. raised its position in shares of Equinix by 190.9% during the second quarter. Westside Investment Management Inc. now owns 32 shares of the financial services provider’s stock valued at $25,000 after buying an additional 21 shares during the last quarter. Ameriflex Group Inc. increased its holdings in Equinix by 433.3% in the 3rd quarter. Ameriflex Group Inc. now owns 32 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 26 shares during the last quarter. Atlantic Union Bankshares Corp purchased a new stake in Equinix in the 2nd quarter worth $26,000. Bank of Jackson Hole Trust boosted its holdings in shares of Equinix by 70.0% during the 2nd 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 during the last quarter. Finally, Abound Wealth Management increased its holdings in shares of 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 last quarter. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on EQIX. Scotiabank cut their price target on Equinix from $965.00 to $959.00 and set a “sector outperform” rating on the stock in a research note on Wednesday, January 14th. UBS Group set a $959.00 target price on shares of Equinix in a report on Wednesday, January 14th. Wall Street Zen downgraded shares of Equinix from a “hold” rating to a “sell” rating in a research note on Saturday, January 10th. Citigroup restated a “buy” rating on shares of Equinix in a research note on Thursday, December 11th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Equinix in a research report on Wednesday, October 8th. Four equities research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, Equinix presently has an average 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.