Walleye Capital LLC Acquires Shares of 239,873 Rackspace Technology, Inc. (NASDAQ:RXT)

Walleye Capital LLC acquired a new position in Rackspace Technology, Inc. (NASDAQ:RXT - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 239,873 shares of the company's stock, valued at approximately $530,000. Walleye Capital LLC owned approximately 0.11% of Rackspace Technology as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Quantbot Technologies LP acquired a new position in Rackspace Technology during the 4th quarter worth about $57,000. FMR LLC lifted its position in shares of Rackspace Technology by 437.5% during the third quarter. FMR LLC now owns 31,154 shares of the company's stock worth $76,000 after purchasing an additional 25,358 shares in the last quarter. Empower Advisory Group LLC bought a new stake in shares of Rackspace Technology during the fourth quarter valued at approximately $85,000. SG Americas Securities LLC grew its stake in shares of Rackspace Technology by 64.7% during the fourth quarter. SG Americas Securities LLC now owns 56,778 shares of the company's stock valued at $125,000 after purchasing an additional 22,311 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership acquired a new stake in shares of Rackspace Technology in the fourth quarter valued at approximately $158,000. 82.48% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Rackspace Technology

In other news, CEO Amar Maletira sold 38,355 shares of the business's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $2.37, for a total transaction of $90,901.35. Following the completion of the transaction, the chief executive officer now directly owns 4,890,168 shares in the company, valued at approximately $11,589,698.16. The trade was a 0.78 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Mark A. Marino sold 20,217 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 value of $37,805.79. Following the completion of the sale, the chief financial officer now directly owns 1,917,446 shares of the company's stock, valued at approximately $3,585,624.02. This trade represents a 1.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,168,662 shares of company stock valued at $2,418,792. 2.00% of the stock is currently owned by insiders.

Rackspace Technology Stock Performance

NASDAQ:RXT opened at $1.34 on Wednesday. The company has a market cap of $317.99 million, a price-to-earnings ratio of -0.35 and a beta of 2.12. The stock's fifty day moving average price is $1.94 and its two-hundred day moving average price is $2.33. Rackspace Technology, Inc. has a 52-week low of $1.24 and a 52-week high of $3.41.

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

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.

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