Insider Sale: Chief Sales Officer Michael Campbell Sells Shares of Equinix Inc (EQIX)
On September 6, 2024, Michael Campbell, Chief Sales Officer of Equinix Inc (NASDAQ:EQIX), sold 600 shares of the company at a price of $816.73 per share. The transaction was documented in a recent SEC Filing. Following this sale, the insider now owns 14,800 shares of Equinix Inc.
Equinix Inc operates as a global provider of data center services, facilitating interconnection between companies and their customers and partners across the digital supply chain. The company's platform of high-performance data centers consists of dynamic ecosystems and broad offerings in network connectivity, cloud services, and data security.
Over the past year, Michael Campbell has sold a total of 4,717 shares of Equinix Inc and has not made any purchases of the stock. This recent transaction follows a pattern observed over the last year, where there have been no insider buys and 45 insider sells within the company.
The shares of Equinix Inc were trading at $816.73 on the day of the sale, giving the company a market cap of approximately $78.98 billion. The price-earnings ratio of the company stands at 76.17, which is above the industry median of 16.74.
According to the GF Value, the intrinsic value of Equinix Inc is estimated at $837.73 per share, making the stock Fairly Valued with a price-to-GF-Value ratio of 0.97.
The GF Value is calculated based on historical trading multiples such as the price-earnings ratio, price-sales ratio, price-book ratio, and price-to-free cash flow, adjusted for the company's past performance and estimated future business outcomes.
This insider sale might interest investors tracking insider behaviors as an indicator of confidence levels regarding the company's current valuation and future prospects.
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