Rackspace Technology, Inc. (NASDAQ:RXT) EVP Sells $329,819.38 in Stock

Rackspace Technology, Inc. (NASDAQ:RXT - Get Free Report) EVP Dharmendra Kumar Sinha sold 176,374 shares of the company's stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $1.87, for a total transaction of $329,819.38. Following the completion of the sale, the executive vice president now directly owns 2,117,455 shares of the company's stock, valued at $3,959,640.85. This represents a 7.69 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link.

Dharmendra Kumar Sinha also recently made the following trade(s):

• On Monday, March 3rd, Dharmendra Kumar Sinha sold 17,480 shares of Rackspace Technology stock. The stock was sold at an average price of $2.37, for a total transaction of $41,427.60.

Rackspace Technology Price Performance

RXT stock remained flat at $1.87 during mid-day trading on Friday. 715,268 shares of the company's stock traded hands, compared to its average volume of 939,066. The stock has a market capitalization of $425.55 million, a price-to-earnings ratio of -0.48 and a beta of 2.05. The firm's 50-day simple moving average is $2.48 and its two-hundred day simple moving average is $2.48. Rackspace Technology, Inc. has a one year low of $1.45 and a one year high of $3.41.

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

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Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of RXT. Balyasny Asset Management L.P. purchased a new position in Rackspace Technology during the fourth quarter worth about $36,000. MetLife Investment Management LLC boosted its stake in Rackspace Technology by 89.4% during the fourth quarter. MetLife Investment Management LLC now owns 17,539 shares of the company's stock worth $39,000 after buying an additional 8,281 shares during the period. US Bancorp DE boosted its stake in shares of Rackspace Technology by 10,766.2% in the third quarter. US Bancorp DE now owns 16,408 shares of the company's stock valued at $40,000 after purchasing an additional 16,257 shares during the period. ProShare Advisors LLC boosted its stake in shares of Rackspace Technology by 50.6% in the fourth 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 during the period. Finally, Aquatic Capital Management LLC purchased a new position in shares of Rackspace Technology in the fourth quarter valued at approximately $45,000. Hedge funds and other institutional investors own 82.48% of the company's stock.

About Rackspace Technology

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.