Rackspace Technology (NASDAQ:RXT) EVP Sells $340,502.63 in Stock
by Amy Steele · The Cerbat GemRackspace Technology, Inc. (NASDAQ:RXT – Get Free Report) EVP Dharmendra Kumar Sinha sold 188,123 shares of the company’s stock in a transaction that occurred on Wednesday, March 18th. The stock was sold at an average price of $1.81, for a total value of $340,502.63. Following the completion of the transaction, the executive vice president owned 2,276,057 shares of the company’s stock, valued at approximately $4,119,663.17. This represents a 7.63% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.
Dharmendra Kumar Sinha also recently made the following trade(s):
- On Monday, March 2nd, Dharmendra Kumar Sinha sold 45,393 shares of Rackspace Technology stock. The shares were sold at an average price of $1.81, for a total transaction of $82,161.33.
Rackspace Technology Stock Up 4.5%
Shares of NASDAQ RXT traded up $0.08 during trading on Wednesday, reaching $1.85. 9,006,667 shares of the stock were exchanged, compared to its average volume of 68,368,392. The company has a market capitalization of $456.78 million, a price-to-earnings ratio of -1.95 and a beta of 1.80. The business’s 50-day moving average price is $1.19 and its 200 day moving average price is $1.25. Rackspace Technology, Inc. has a twelve month low of $0.39 and a twelve month high of $2.74.
Rackspace Technology (NASDAQ:RXT – Get Free Report) last released its quarterly earnings results on Thursday, February 26th. The company reported ($0.01) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.03. The firm had revenue of $682.80 million for the quarter, compared to analyst estimates of $672.56 million. Rackspace Technology has set its FY 2026 guidance at -0.200–0.15 EPS.
Institutional Investors Weigh In On Rackspace Technology
Several hedge funds and other institutional investors have recently modified their holdings of RXT. Janus Henderson Group PLC raised its stake in shares of Rackspace Technology by 70.7% in the 4th quarter. Janus Henderson Group PLC now owns 1,050,353 shares of the company’s stock valued at $1,020,000 after purchasing an additional 435,113 shares in the last quarter. Bridgeway Capital Management LLC grew its stake in Rackspace Technology by 34.6% in the fourth quarter. Bridgeway Capital Management LLC now owns 350,000 shares of the company’s stock worth $340,000 after purchasing an additional 90,000 shares in the last quarter. Jump Financial LLC acquired a new position in Rackspace Technology in the fourth quarter worth about $34,000. Wells Fargo & Company MN increased its holdings in Rackspace Technology by 13.4% in the fourth quarter. Wells Fargo & Company MN now owns 244,939 shares of the company’s stock valued at $238,000 after buying an additional 28,885 shares during the last quarter. Finally, Federated Hermes Inc. increased its holdings in Rackspace Technology by 4.4% in the fourth quarter. Federated Hermes Inc. now owns 719,747 shares of the company’s stock valued at $699,000 after buying an additional 30,024 shares during the last quarter. Institutional investors own 82.48% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of analysts have recently issued reports on RXT shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Rackspace Technology in a research report on Thursday, January 22nd. Royal Bank Of Canada raised their price objective on Rackspace Technology from $1.75 to $2.50 and gave the company a “sector perform” rating in a research note on Friday, February 27th. Four investment analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, Rackspace Technology has a consensus rating of “Reduce” and an average target price of $1.70.
Get Our Latest Stock Analysis on Rackspace Technology
Rackspace Technology Company Profile
Rackspace Technology (NASDAQ: RXT) is a leading provider of managed multi-cloud solutions and services, specializing in the deployment, management and optimization of public and private cloud environments. The company helps organizations design and operate applications across platforms such as Amazon Web Services (AWS), Microsoft Azure, Google Cloud and its own private cloud infrastructure. Rackspace’s core offerings include cloud migration, application modernization, data protection, security services and 24x7x365 operational support.
Beyond cloud hosting, Rackspace offers a range of professional services designed to accelerate digital transformation initiatives.