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Kurt Pletcher, the Chief Legal Officer of Equinix Inc. (NASDAQ:), recently sold a total of $213,607 worth of the company’s common stock. The data center giant, currently valued at $93 billion, has seen its shares surge 22% year-to-date, trading near $964, close to its 52-week high of $994. The transactions occurred on December 3, 2024, with shares sold at prices ranging from $959.63 to $965.15. These sales were executed as part of a pre-established trading plan to cover tax obligations associated with the vesting of restricted stock units. Following these transactions, Pletcher retains direct ownership of 1,015 shares of Equinix stock. According to InvestingPro<\/a>, Equinix maintains a “GOOD” overall financial health score and offers a 1.77% dividend yield, though current analysis suggests the stock may be overvalued at these levels.<\/p>\n In other recent news, Equinix, a global data center Investment Trust, has seen multiple analyst upgrades following its impressive third-quarter earnings for 2024. CFRA raised the price target to $985, and Truist Securities increased it to $1,090, maintaining their respective Hold and Buy ratings. Equinix reported a 7% year-over-year increase in revenue to $2.2 billion and a 12% rise in adjusted EBITDA. These recent developments highlight the company’s robust financial health and growth prospects.<\/p>\n Equinix’s third-quarter financial performance showcased a diverse geographic revenue mix, with the Americas, EMEA region, and the Asia-Pacific region contributing to a total revenue of $8.15 billion in the last twelve months. The company also announced the issuance of \u20ac1.15 billion in senior notes to finance or refinance green projects. <\/p>\n In a strategic partnership with CPP Investment Board and GIC, Equinix plans to invest over $15 billion in xScale facilities, catering to the increasing demand for digital infrastructure and AI workloads. CFRA and Truist Securities’ updated projections set the 2024 expected EBITDA at $4,115 million, a significant increase from the current EBITDA of $3.1 billion. The 2025 funds from operations (FFO) estimate stands at $27.00, with revenue expectations at $8.8 billion for 2024 and $9.5 billion for 2025.<\/p>\n This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.<\/em><\/p>\n<\/div>\n<\/div>\n