Equinix’s chief human resources officer is selling $2 million worth of stock to Investing.com
Brandi Galvin Morandi, Chief Human Resources Officer at Equinix Inc. (NASDAQ: ), recently sold a significant portion of its stake in the company. According to a recent filing with the SEC, on January 16, 2025, Morandi sold approximately $2 million worth of stock. The sale occurred at prices ranging from $900.0725 to $917.6466 per share. The stock, which is up nearly 18% over the past year and currently trades at $915.59, appears overvalued based on InvestingPro analysis.
The transactions were part of a 10b5-1 trading plan, which allows company insiders to arrange stock sales in advance to avoid potential insider trading violations. Following these sales, Morandi retains ownership of 8,649 shares of Equinix common stock.
These transactions follow a series of acquisitions on January 15, 2025, where Morandi acquired a total of 4,344 shares through the acquisition of restricted stock units. The shares acquired were valued at $0 per share, reflecting the nature of equity acquisitions rather than market transactions. After these acquisitions, Morandi held 10,849 shares before subsequent sales.
In other recent news, Equinix, the global data center company, saw a number of analyst adjustments following its strong third-quarter financial results. RBC Capital Markets raised its price target on Equinix from $936 to $1,025, maintaining an Outperform rating, after the company reported revenue and adjusted EBITDA that beat market forecasts. In addition, Equinix’s adjusted funds from operations (AFFO) and AFFO per share significantly beat consensus estimates.
Mizuho (NYSE:) Securities also revised their financial outlook on Equinix, raising their price objective from $971.00 to $1,094.00. Despite a slight reduction in AFFO estimates for 2025 and 2026, Mizuho forecasts around 10% revenue growth for Equinix, supported by the company’s strong financial health and announced cost-cutting measures.
CFRA, another financial research firm, raised its price target on Equinix to $975 and maintained a Hold rating, reflecting Equinix’s position as a top data center REIT and user of advances in artificial intelligence (AI). The company’s outlook is supported by high barriers to entry in the industry, potential growth from ongoing location expansions and predictable earnings derived from a recurring revenue model.
Truist Securities also revised its outlook on Equinix, raising its price target to $1,090 from $935 while maintaining a Buy rating. This revision follows Equinix’s third-quarter 2024 earnings, prompting the analyst to adjust the company’s EBITDA and AFFO projections for the coming years.
These recent developments underscore Equinix’s commitment to growth and innovation in the data center and interconnect space. The company’s continued revenue growth and strategic investments demonstrate its leadership in the industry. Equinix’s ongoing site expansions and unique global cloud-based platform position it as the preferred partner for many leading technology companies.
This article was generated with the help of AI and reviewed by an editor. See our T&C for more information.
