Rackspace Technology, Inc. (NASDAQ:RXT - Get Free Report) CEO Amar Maletira sold 82,552 shares of the business's stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $2.37, for a total transaction of $195,648.24. Following the completion of the transaction, the chief executive officer now owns 4,983,984 shares in the company, valued at $11,812,042.08. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.
Amar Maletira also recently made the following trade(s):
- On Monday, September 30th, Amar Maletira sold 84,823 shares of Rackspace Technology stock. The shares were sold at an average price of $2.42, for a total transaction of $205,271.66.
- On Wednesday, August 21st, Amar Maletira sold 52,206 shares of Rackspace Technology stock. The stock was sold at an average price of $2.35, for a total value of $122,684.10.
Rackspace Technology Stock Performance
Rackspace Technology stock opened at $2.38 on Thursday. The company has a market capitalization of $532.77 million, a PE ratio of -0.60 and a beta of 1.98. Rackspace Technology, Inc. has a fifty-two week low of $1.15 and a fifty-two week high of $3.18. The firm has a 50 day moving average price of $2.32 and a 200 day moving average price of $2.18.
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Rackspace Technology (NASDAQ:RXT - Get Free Report) last released its quarterly earnings results on Thursday, August 8th. The company reported ($0.08) EPS for the quarter, topping the consensus estimate of ($0.11) by $0.03. The firm had revenue of $684.90 million for the quarter, compared to analysts' expectations of $669.10 million. As a group, equities research analysts forecast that Rackspace Technology, Inc. will post -0.32 earnings per share for the current year.
Analyst Ratings Changes
Separately, UBS Group lifted their target price on Rackspace Technology from $2.10 to $2.30 and gave the company a "neutral" rating in a research report on Friday, August 16th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $2.15.
Read Our Latest Stock Report on Rackspace Technology
Hedge Funds Weigh In On Rackspace Technology
Institutional investors have recently bought and sold shares of the company. The Manufacturers Life Insurance Company lifted its position in shares of Rackspace Technology by 44.7% during the second quarter. The Manufacturers Life Insurance Company now owns 30,019 shares of the company's stock worth $89,000 after purchasing an additional 9,275 shares in the last quarter. ClariVest Asset Management LLC increased its stake in Rackspace Technology by 2.8% during the 2nd quarter. ClariVest Asset Management LLC now owns 379,721 shares of the company's stock worth $1,132,000 after buying an additional 10,281 shares during the period. Allspring Global Investments Holdings LLC acquired a new stake in Rackspace Technology during the 2nd quarter worth approximately $40,000. Mitsubishi UFJ Trust & Banking Corp lifted its holdings in Rackspace Technology by 98.2% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 33,263 shares of the company's stock worth $51,000 after buying an additional 16,484 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC purchased a new position in Rackspace Technology in the 1st quarter valued at approximately $35,000. 82.48% of the stock is owned by institutional investors and hedge funds.
About Rackspace Technology
(
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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