Tower Research Capital LLC TRC lifted its holdings in shares of Rackspace Technology, Inc. (NASDAQ:RXT – Free Report) by 1,140.8% during the 4th quarter, Holdings Channel.com reports. The firm owned 21,168 shares of the company’s stock after acquiring an additional 19,462 shares during the period. Tower Research Capital LLC TRC’s holdings in Rackspace Technology were worth $42,000 at the end of the most recent quarter.
Several other hedge funds have also made changes to their positions in the business. SG Americas Securities LLC acquired a new position in Rackspace Technology in the third quarter valued at $66,000. Allspring Global Investments Holdings LLC boosted its holdings in Rackspace Technology by 238.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 16,480 shares of the company’s stock valued at $39,000 after acquiring an additional 11,614 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Rackspace Technology by 32.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,868,417 shares of the company’s stock valued at $4,391,000 after acquiring an additional 452,862 shares during the last quarter. Shell Asset Management Co. acquired a new position in Rackspace Technology in the third quarter valued at $257,000. Finally, ClariVest Asset Management LLC acquired a new position in Rackspace Technology in the third quarter valued at $846,000. Institutional investors and hedge funds own 82.48% of the company’s stock.
Insider Transactions at Rackspace Technology
In other news, CEO Amar Maletira sold 37,446 shares of Rackspace Technology stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $1.92, for a total transaction of $71,896.32. Following the sale, the chief executive officer now directly owns 4,638,423 shares of the company’s stock, valued at $8,905,772.16. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.00% of the company’s stock.
Analyst Ratings Changes
Get Our Latest Stock Analysis on Rackspace Technology
Rackspace Technology Trading Up 0.6 %
NASDAQ:RXT traded up $0.01 during mid-day trading on Thursday, hitting $1.74. The company had a trading volume of 516,221 shares, compared to its average volume of 1,279,038. Rackspace Technology, Inc. has a 1 year low of $1.05 and a 1 year high of $3.10. The firm has a market capitalization of $389.12 million, a price-to-earnings ratio of -0.44 and a beta of 1.83. The business has a fifty day simple moving average of $1.76 and a 200-day simple moving average of $1.66.
Rackspace Technology (NASDAQ:RXT – Get Free Report) last announced its earnings results on Tuesday, March 12th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.01. Rackspace Technology had a negative return on equity of 10.18% and a negative net margin of 28.33%. The business had revenue of $720.00 million for the quarter, compared to analyst estimates of $714.74 million. During the same period in the previous year, the company earned $0.06 earnings per share. The company’s revenue for the quarter was down 8.5% compared to the same quarter last year. As a group, research analysts anticipate that Rackspace Technology, Inc. will post -0.38 earnings per share for the current year.
About Rackspace Technology
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.
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