Equinix chief people officer sells $1.77 million in shares

Brandi Galvin Morandi, the Chief People Officer at Equinix Inc. (NASDAQ:EQIX), has sold a significant portion of her holdings in the company. According to a recent SEC filing, Morandi sold a total of 1,884 shares of Equinix common stock over two days. The transactions were executed at prices ranging from $934.36 to $940.51 per share, amounting to approximately $1.77 million. The sales occurred near the stock’s 52-week high of $994.03, with Equinix currently commanding a market capitalization of $89.57 billion. InvestingPro analysis indicates the stock is trading above its Fair Value, though the company maintains a GOOD overall financial health score.

Following these transactions, Morandi retains ownership of 8,377 shares. Equinix, a leader in the real estate investment trust sector, continues to be a focal point for investors, given its strategic role in data center operations and impressive financial metrics, including a 10.09% dividend growth rate and $3.06 billion in EBITDA. For deeper insights into Equinix’s valuation and growth prospects, including exclusive ProTips and comprehensive analysis, check out the detailed Pro Research Report available on InvestingPro. The sales were disclosed in a Form 4 filing with the Securities and Exchange Commission.

In other recent news, Equinix reported its fourth-quarter financial results for 2024, revealing global revenues of $2.261 billion, a 7% increase year-over-year. The company’s adjusted EBITDA for the quarter was $1.021 billion, representing 45% of revenues. Despite these positive figures, Equinix’s earnings did not meet market expectations, leading to a revision in analyst price targets. Jefferies, TD Cowen, and BMO Capital Markets all lowered their price targets for Equinix, though they maintained positive ratings on the stock, with Jefferies and TD Cowen both recommending a Buy and BMO Capital Markets an Outperform.

The company’s forecast for 2025 indicates a revenue growth of 7-8% on a normalized and constant currency basis, with a focus on capitalizing on the growing demand for artificial intelligence capabilities. Equinix reported a record level of gross bookings and a backlog at a multi-year high, signaling robust demand despite some challenges. Analysts noted that factors such as foreign exchange fluctuations and capacity constraints impacted the financial outcomes. However, they highlighted opportunities for growth, particularly in AI workloads, which accounted for a significant portion of new leases.

Equinix’s strategic focus on expanding its core interconnection solutions and enhancing AI capabilities is expected to drive further growth. The company anticipates a 9-12% increase in Adjusted Funds From Operations (AFFO) for 2025, along with a 190 basis point expansion in margins. Despite short-term challenges, analysts remain optimistic about Equinix’s long-term potential, driven by its strong market position and the increasing demand for AI and high-performance computing solutions.

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