Rackspace Technology, Inc. (NASDAQ:RXT) Shares Sold by Jacobs Levy Equity Management Inc.

Jacobs Levy Equity Management Inc. lowered its stake in Rackspace Technology, Inc. (NASDAQ:RXT) by 25.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,142,325 shares of the company’s stock after selling 399,021 shares during the period. Jacobs Levy Equity Management Inc. owned 0.51% of Rackspace Technology worth $1,805,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. increased its stake in shares of Rackspace Technology by 35.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,535,746 shares of the company’s stock worth $5,071,000 after acquiring an additional 667,329 shares during the period. Federated Hermes Inc. increased its position in shares of Rackspace Technology by 2.1% during the fourth quarter. Federated Hermes Inc. now owns 757,609 shares of the company’s stock worth $1,515,000 after purchasing an additional 15,803 shares in the last quarter. CastleKnight Management LP acquired a new position in shares of Rackspace Technology during the 4th quarter worth approximately $1,201,000. GSA Capital Partners LLP acquired a new stake in shares of Rackspace Technology in the 1st quarter worth $531,000. Finally, Public Employees Retirement System of Ohio boosted its position in shares of Rackspace Technology by 30.1% during the 1st quarter. Public Employees Retirement System of Ohio now owns 133,484 shares of the company’s stock valued at $211,000 after acquiring an additional 30,916 shares during the last quarter. 82.48% of the stock is owned by hedge funds and other institutional investors.

Rackspace Technology Price Performance

Shares of NASDAQ:RXT opened at $2.34 on Thursday. The business has a 50-day moving average price of $2.45 and a 200 day moving average price of $2.02. Rackspace Technology, Inc. has a 12-month low of $1.15 and a 12-month high of $3.18.

Rackspace Technology (NASDAQ:RXT) last announced its earnings results on Wednesday, May 15th. The company reported ($0.11) EPS for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.02. The firm had revenue of $690.80 million for the quarter, compared to analysts’ expectations of $684.21 million. During the same quarter last year, the business earned ($0.02) earnings per share. The business’s revenue was down 8.9% compared to the same quarter last year. Equities analysts predict that Rackspace Technology, Inc. will post -0.38 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Rackspace Technology news, EVP Dharmendra Kumar Sinha sold 149,249 shares of the stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $2.36, for a total value of $352,227.64. Following the sale, the executive vice president now directly owns 2,466,593 shares of the company’s stock, valued at approximately $5,821,159.48. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Rackspace Technology news, insider Kellie Teal-Guess sold 61,393 shares of the firm’s stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $2.13, for a total transaction of $130,767.09. Following the transaction, the insider now directly owns 909,775 shares of the company’s stock, valued at approximately $1,937,820.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Dharmendra Kumar Sinha sold 149,249 shares of Rackspace Technology stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $2.36, for a total value of $352,227.64. Following the completion of the transaction, the executive vice president now owns 2,466,593 shares in the company, valued at $5,821,159.48. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by insiders.

Rackspace Technology 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.