Brandi Galvin Morandi Sells 3,726 Shares of Equinix (NASDAQ:EQIX) Stock

Equinix, Inc. (NASDAQ:EQIX) insider Brandi Galvin Morandi sold 3,726 shares of the business’s stock in a transaction dated Monday, June 8th. The stock was 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 approximately $6,600,239.52. This represents a 37.80% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at 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 stock was 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 stock was sold at an average price of $961.19, for a total transaction of $605,549.70.

Equinix Trading Down 0.3%

Shares of NASDAQ EQIX opened at $1,059.84 on Wednesday. Equinix, Inc. has a 1-year low of $710.52 and a 1-year high of $1,128.68. The company has a market cap of $104.52 billion, a PE ratio of 73.35, a P/E/G ratio of 2.00 and a beta of 0.99. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 1.39. The company has a 50-day moving average of $1,062.29 and a two-hundred day moving average of $918.62.

Equinix (NASDAQ:EQIX) last announced its earnings results 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. Equinix had a net margin of 15.07% and a return on equity of 10.03%. The company had revenue of $2.44 billion during the quarter, compared to the consensus estimate of $2.52 billion. During the same period in the previous year, the firm posted $9.67 earnings per share. The company’s revenue was up 9.8% on a year-over-year basis. Equinix has set its FY 2026 guidance at 42.310-43.110 EPS. As a group, equities analysts expect that Equinix, Inc. will post 37.72 earnings per share for the current fiscal year.

Equinix Dividend Announcement

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

Analysts Set New Price Targets

A number of equities analysts have weighed in on EQIX shares. Citigroup reaffirmed a “buy” rating on shares of Equinix in a research note on Wednesday, June 3rd. Guggenheim reissued a “buy” rating and set a $1,235.00 price target on shares of Equinix in a research note on Wednesday, May 20th. Jefferies Financial Group boosted their price target on shares of Equinix from $950.00 to $1,000.00 and gave the stock a “buy” rating in a research note on Thursday, February 12th. BMO Capital Markets boosted their price target on shares of Equinix from $925.00 to $1,050.00 and gave the stock an “outperform” rating in a research note on Thursday, February 12th. Finally, Weiss Ratings raised shares of Equinix from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, May 7th. Three analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Equinix currently has an average rating of “Moderate Buy” and a consensus target price of $1,143.60.

Institutional Investors Weigh In On Equinix

A number of institutional investors and hedge funds have recently modified their holdings of the business. Parallel Advisors LLC raised its stake in shares of Equinix by 31.8% during the first quarter. Parallel Advisors LLC now owns 1,090 shares of the financial services provider’s stock worth $1,069,000 after buying an additional 263 shares during the last quarter. Caerus Investment Advisors LLC grew its holdings in Equinix by 15.0% during the first quarter. Caerus Investment Advisors LLC now owns 806 shares of the financial services provider’s stock valued at $790,000 after purchasing an additional 105 shares during the period. Keel Point LLC acquired a new position in Equinix during the first quarter valued at approximately $231,000. Alpine Woods Capital Investors LLC grew its holdings in Equinix by 26.0% during the first quarter. Alpine Woods Capital Investors LLC now owns 6,710 shares of the financial services provider’s stock valued at $6,577,000 after purchasing an additional 1,385 shares during the period. Finally, Glenmede Trust Co. NA grew its holdings in Equinix by 2.7% during the first quarter. Glenmede Trust Co. NA now owns 12,999 shares of the financial services provider’s stock valued at $12,742,000 after purchasing an additional 339 shares during the period. 94.94% of the stock is owned by institutional investors.

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.