Key Points
- Rackspace EVP Dharmendra Kumar Sinha sold 188,123 shares on March 18 at an average price of $1.81 for about $340,503, and had earlier sold 45,393 shares on March 2; the March 18 transaction cut his direct holding to 2,276,057 shares, a 7.63% decrease in his ownership.
- Company and market context: RXT opened at $1.85 (52‑week range $0.39–$2.74) with a market cap of ~$456.8M; the firm slightly beat quarterly EPS and revenue estimates but issued FY2026 guidance of -$0.20 to -$0.15 EPS, and analysts hold a consensus "Reduce" view with a $1.70 price target.
Rackspace Technology, Inc. (NASDAQ:RXT - Get Free Report) CFO Mark Marino sold 14,058 shares of Rackspace Technology stock in a transaction on Wednesday, March 18th. The shares were sold at an average price of $1.81, for a total transaction of $25,444.98. Following the completion of the sale, the chief financial officer owned 2,158,874 shares in the company, valued at $3,907,561.94. The trade was a 0.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.
Rackspace Technology Trading Down 8.4%
Shares of Rackspace Technology stock traded down $0.16 during trading hours on Thursday, reaching $1.70. 2,822,573 shares of the company's stock were exchanged, compared to its average volume of 27,147,406. The stock has a market cap of $418.51 million, a P/E ratio of -1.78 and a beta of 1.80. The company has a 50 day moving average of $1.19 and a two-hundred day moving average of $1.25. Rackspace Technology, Inc. has a fifty-two week low of $0.39 and a fifty-two week high of $2.74.
Rackspace Technology (NASDAQ:RXT - Get Free Report) last released its earnings results on Thursday, February 26th. The company reported ($0.01) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.04) by $0.03. The company had revenue of $682.80 million during the quarter, compared to analyst estimates of $672.56 million. Rackspace Technology has set its FY 2026 guidance at -0.200--0.15 EPS.
Analyst Ratings Changes
RXT has been the topic of a number of analyst reports. Royal Bank Of Canada upped their price objective on Rackspace Technology from $1.75 to $2.50 and gave the stock a "sector perform" rating in a research note on Friday, February 27th. Weiss Ratings reissued a "sell (d-)" rating on shares of Rackspace Technology in a research note on Thursday, January 22nd. Four analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of "Reduce" and an average price target of $1.70.
Read Our Latest Stock Analysis on RXT
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently made changes to their positions in RXT. AustralianSuper Pty Ltd bought a new stake in Rackspace Technology in the 3rd quarter valued at $2,276,000. Intech Investment Management LLC increased its holdings in shares of Rackspace Technology by 45.4% in the second quarter. Intech Investment Management LLC now owns 51,692 shares of the company's stock valued at $66,000 after purchasing an additional 16,152 shares during the last quarter. Quadrature Capital Ltd acquired a new position in shares of Rackspace Technology in the second quarter valued at $26,000. XTX Topco Ltd raised its position in shares of Rackspace Technology by 62.8% in the second quarter. XTX Topco Ltd now owns 57,682 shares of the company's stock valued at $74,000 after purchasing an additional 22,243 shares during the period. Finally, Steward Partners Investment Advisory LLC lifted its stake in shares of Rackspace Technology by 3,385.4% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 64,828 shares of the company's stock worth $63,000 after buying an additional 62,968 shares during the last quarter. 82.48% of the stock is currently owned by institutional investors.
Rackspace Technology Company Profile
(
Get Free Report)
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.
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