Rackspace Technology, Inc. (NASDAQ:RXT) Insider Sells $138,327.64 in Stock

Rackspace Technology, Inc. (NASDAQ:RXT - Get Free Report) insider Srini Koushik sold 73,972 shares of Rackspace Technology stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $1.87, for a total value of $138,327.64. Following the sale, the insider now directly owns 935,114 shares in the company, valued at approximately $1,748,663.18. The trade was a 7.33 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Srini Koushik also recently made the following trade(s):

• On Monday, March 3rd, Srini Koushik sold 9,165 shares of Rackspace Technology stock. The shares were sold at an average price of $2.37, for a total value of $21,721.05.

Rackspace Technology Price Performance

Shares of RXT remained flat at $1.87 during mid-day trading on Friday. The stock had a trading volume of 715,268 shares, compared to its average volume of 939,066. The stock's 50 day moving average is $2.48 and its 200-day moving average is $2.48. Rackspace Technology, Inc. has a 12-month low of $1.45 and a 12-month high of $3.41. The stock has a market capitalization of $425.55 million, a P/E ratio of -0.48 and a beta of 2.05.

Rackspace Technology (NASDAQ:RXT - Get Free Report) last issued its quarterly earnings results on Thursday, February 20th. The company reported ($0.02) EPS for the quarter, topping analysts' consensus estimates of ($0.04) by $0.02. The company had revenue of $685.60 million during the quarter, compared to the consensus estimate of $674.85 million.

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Institutional Trading of Rackspace Technology

Hedge funds have recently made changes to their positions in the stock. Balyasny Asset Management L.P. bought a new stake in shares of Rackspace Technology in the 4th quarter worth approximately $36,000. MetLife Investment Management LLC raised its holdings in Rackspace Technology by 89.4% in the 4th 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. US Bancorp DE raised its holdings in Rackspace Technology by 10,766.2% in the 3rd quarter. US Bancorp DE now owns 16,408 shares of the company's stock worth $40,000 after acquiring an additional 16,257 shares during the last quarter. ProShare Advisors LLC raised its holdings in Rackspace Technology by 50.6% in the 4th quarter. ProShare Advisors LLC now owns 19,030 shares of the company's stock worth $42,000 after acquiring an additional 6,398 shares during the last quarter. Finally, Aquatic Capital Management LLC purchased a new position in Rackspace Technology in the 4th quarter worth approximately $45,000. 82.48% of the stock is owned by institutional investors.

Rackspace Technology Company Profile

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.