Key Points
- Rackspace Technology CFO Mark Marino sold 48,099 shares on June 4 at an average price of $5.56, totaling about $267,430. The sale was made under a pre-arranged Rule 10b5-1 plan and was tied to tax withholding from equity award vesting.
- After the transaction, Marino still directly owned 3.37 million shares, and his stake fell by 1.41%. The company’s stock was trading around $5.59, near its 52-week high of $7.65.
- Rackspace recently reported a quarterly EPS loss of $0.06, missing expectations, though revenue of $678.1 million beat estimates. Analysts currently have a cautious view on the stock, with an average rating of “Reduce” and a target price of $1.95.
Rackspace Technology, Inc. (NASDAQ:RXT - Get Free Report) CFO Mark Marino sold 48,099 shares of Rackspace Technology stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $5.56, for a total transaction of $267,430.44. Following the transaction, the chief financial officer directly owned 3,370,431 shares in the company, valued at $18,739,596.36. This represents a 1.41% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Rackspace Technology Price Performance
RXT opened at $5.59 on Friday. The company has a market capitalization of $1.39 billion, a price-to-earnings ratio of -9.16 and a beta of 3.03. The firm's fifty day moving average price is $2.90 and its two-hundred day moving average price is $1.76. Rackspace Technology, Inc. has a 1 year low of $0.39 and a 1 year high of $7.65.
Rackspace Technology (NASDAQ:RXT - Get Free Report) last released its earnings results on Thursday, May 7th. The company reported ($0.06) EPS for the quarter, missing analysts' consensus estimates of ($0.03) by ($0.03). The firm had revenue of $678.10 million during the quarter, compared to the consensus estimate of $660.83 million. Rackspace Technology has set its FY 2026 guidance at -0.200--0.150 EPS. As a group, equities analysts anticipate that Rackspace Technology, Inc. will post -0.18 EPS for the current year.
Institutional Investors Weigh In On Rackspace Technology
Hedge funds and other institutional investors have recently modified their holdings of the stock. AEGON USA Investment Management LLC bought a new stake in shares of Rackspace Technology during the fourth quarter valued at about $194,000. Wells Fargo & Company MN increased its position in shares of Rackspace Technology by 13.4% during 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 period. Dynamic Technology Lab Private Ltd bought a new stake in shares of Rackspace Technology during the first quarter valued at about $113,000. XTX Topco Ltd increased its position in shares of Rackspace Technology by 62.8% during the second quarter. XTX Topco Ltd now owns 57,682 shares of the company's stock valued at $74,000 after buying an additional 22,243 shares during the period. Finally, Engineers Gate Manager LP increased its position in shares of Rackspace Technology by 47.1% during the second quarter. Engineers Gate Manager LP now owns 34,777 shares of the company's stock valued at $45,000 after buying an additional 11,141 shares during the period. 82.48% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
A number of equities research analysts have recently commented on RXT shares. Weiss Ratings reiterated a "sell (d-)" rating on shares of Rackspace Technology in a research note on Tuesday. Royal Bank Of Canada boosted 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. Two analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Reduce" and an average target price of $1.95.
View Our Latest Research Report on RXT
About Rackspace Technology
(
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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