Mark A. Marino Sells 14,458 Shares of Rackspace Technology, Inc. (NASDAQ:RXT) Stock

Rackspace Technology, Inc. (NASDAQ:RXT) CFO Mark A. Marino sold 14,458 shares of the company’s stock in a transaction on Monday, January 27th. The stock was sold at an average price of $2.34, for a total transaction of $33,831.72. Following the transaction, the chief financial officer now owns 1,915,356 shares of the company’s stock, valued at approximately $4,481,933.04. The trade was a 0.75 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link.

Rackspace Technology Price Performance

Rackspace Technology stock traded up $0.01 during trading hours on Wednesday, hitting $2.37. The company had a trading volume of 1,353,547 shares, compared to its average volume of 814,549. The firm has a 50-day moving average of $2.42 and a 200 day moving average of $2.43. The firm has a market cap of $539.34 million, a PE ratio of -0.68 and a beta of 2.02. Rackspace Technology, Inc. has a one year low of $1.45 and a one year high of $3.41.

Rackspace Technology (NASDAQ:RXT) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($0.04) earnings per share for the quarter, beating the consensus estimate of ($0.07) by $0.03. The firm had revenue of $675.80 million for the quarter, compared to analyst estimates of $675.14 million. The company’s revenue was down 7.7% compared to the same quarter last year. During the same period last year, the business earned ($0.04) EPS. As a group, research analysts expect that Rackspace Technology, Inc. will post -0.27 earnings per share for the current year.

Analyst Ratings Changes

Separately, Barclays lifted their price objective on shares of Rackspace Technology from $1.00 to $2.00 and gave the company an “underweight” rating in a research note on Monday, November 18th. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $2.47.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Jacobs Levy Equity Management Inc. increased its stake in Rackspace Technology by 139.4% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 814,624 shares of the company’s stock worth $1,996,000 after purchasing an additional 474,299 shares during the period. Jane Street Group LLC lifted its holdings in shares of Rackspace Technology by 27.4% during the third quarter. Jane Street Group LLC now owns 773,454 shares of the company’s stock valued at $1,895,000 after purchasing an additional 166,528 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Rackspace Technology by 7.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 590,724 shares of the company’s stock worth $1,447,000 after purchasing an additional 41,697 shares in the last quarter. Sargent Investment Group LLC grew its stake in shares of Rackspace Technology by 25.6% in the 3rd quarter. Sargent Investment Group LLC now owns 270,100 shares of the company’s stock worth $662,000 after buying an additional 55,000 shares during the last quarter. Finally, GSA Capital Partners LLP bought a new position in Rackspace Technology during the 3rd quarter valued at approximately $412,000. Hedge funds and other institutional investors own 82.48% of the company’s stock.

Rackspace Technology Company 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.