Rackspace Technology, Inc. (NASDAQ:RXT - Get Free Report) EVP Dharmendra Kumar Sinha sold 17,480 shares of the company's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $2.37, for a total value of $41,427.60. Following the completion of the transaction, the executive vice president now directly owns 2,293,829 shares of the company's stock, valued at approximately $5,436,374.73. This trade represents a 0.76 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.
Rackspace Technology Stock Performance
Shares of Rackspace Technology stock traded down $0.13 on Monday, hitting $2.06. The company's stock had a trading volume of 1,006,906 shares, compared to its average volume of 1,000,654. The firm has a fifty day moving average price of $2.54 and a 200-day moving average price of $2.50. Rackspace Technology, Inc. has a 1 year low of $1.45 and a 1 year high of $3.41. The company has a market capitalization of $468.79 million, a price-to-earnings ratio of -0.53 and a beta of 2.05.
Rackspace Technology (NASDAQ:RXT - Get Free Report) last released its quarterly earnings data on Thursday, February 20th. The company reported ($0.02) EPS for the quarter, beating analysts' consensus estimates of ($0.04) by $0.02. The business had revenue of $685.60 million during the quarter, compared to analyst estimates of $674.85 million.
Analyst Ratings Changes
Separately, Barclays lifted their price objective on shares of Rackspace Technology from $1.00 to $2.00 and gave the stock an "underweight" rating in a research note on Monday, November 18th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, Rackspace Technology presently has a consensus rating of "Hold" and an average target price of $2.47.
Check Out Our Latest Report on RXT
Institutional Investors Weigh In On Rackspace Technology
Institutional investors and hedge funds have recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. grew its holdings in shares of Rackspace Technology by 0.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 595,860 shares of the company's stock valued at $1,317,000 after purchasing an additional 5,136 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Rackspace Technology by 24.1% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 26,807 shares of the company's stock worth $60,000 after purchasing an additional 5,214 shares during the period. ProShare Advisors LLC raised its position in Rackspace Technology by 50.6% in the 4th quarter. ProShare Advisors LLC now owns 19,030 shares of the company's stock valued at $42,000 after purchasing an additional 6,398 shares in the last quarter. MetLife Investment Management LLC lifted its stake in Rackspace Technology by 89.4% in the fourth quarter. MetLife Investment Management LLC now owns 17,539 shares of the company's stock worth $39,000 after acquiring an additional 8,281 shares during the last quarter. Finally, Invesco Ltd. increased its holdings in Rackspace Technology by 1.6% in the fourth quarter. Invesco Ltd. now owns 610,261 shares of the company's stock valued at $1,349,000 after buying an additional 9,825 shares during the last quarter. 82.48% of the stock is owned by hedge funds and other institutional investors.
Rackspace Technology Company Profile
(
Get Free Report)
Rackspace Technology, Inc operates as a multi cloud technology services company in the Americas, Europe, the Middle East, Africa, and The Asia-Pacific region. It operates through three segments: Multicloud Services, Apps & Cross Platform, and OpenStack Public Cloud. The company provides public and private cloud managed services, which allow customers to determine, manage, and optimize the right infrastructure, platforms, and services; professional services related to designing and building multi cloud solutions and cloud-native applications; and managed hosting and colocation services.
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