Rackspace Technology, Inc. (NASDAQ:RXT – Get Free Report) CEO Amar Maletira sold 84,823 shares of the firm’s stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $2.42, for a total value of $205,271.66. Following the completion of the transaction, the chief executive officer now directly owns 5,158,399 shares in the company, valued at $12,483,325.58. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.
Amar Maletira also recently made the following trade(s):
- On Wednesday, October 2nd, Amar Maletira sold 82,552 shares of Rackspace Technology stock. The stock was sold at an average price of $2.37, for a total value of $195,648.24.
- On Wednesday, August 21st, Amar Maletira sold 52,206 shares of Rackspace Technology stock. The stock was sold at an average price of $2.35, for a total value of $122,684.10.
Rackspace Technology Stock Up 7.6 %
RXT stock opened at $2.54 on Friday. Rackspace Technology, Inc. has a twelve month low of $1.15 and a twelve month high of $3.18. The stock has a market cap of $568.58 million, a P/E ratio of -0.64 and a beta of 1.98. The business’s 50-day moving average price is $2.33 and its 200-day moving average price is $2.18.
Analysts Set New Price Targets
Separately, UBS Group raised their target price on Rackspace Technology from $2.10 to $2.30 and gave the stock a “neutral” rating in a research report on Friday, August 16th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $2.15.
Get Our Latest Analysis on RXT
Institutional Inflows and Outflows
A number of large investors have recently made changes to their positions in the stock. The Manufacturers Life Insurance Company raised its stake in Rackspace Technology by 44.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 30,019 shares of the company’s stock valued at $89,000 after purchasing an additional 9,275 shares during the period. ClariVest Asset Management LLC raised its stake in Rackspace Technology by 2.8% during the 2nd quarter. ClariVest Asset Management LLC now owns 379,721 shares of the company’s stock valued at $1,132,000 after purchasing an additional 10,281 shares during the period. Allspring Global Investments Holdings LLC bought a new stake in Rackspace Technology during the 2nd quarter valued at approximately $40,000. SG Americas Securities LLC raised its stake in Rackspace Technology by 64.7% during the 3rd quarter. SG Americas Securities LLC now owns 34,467 shares of the company’s stock valued at $84,000 after purchasing an additional 13,543 shares during the period. Finally, Mitsubishi UFJ Trust & Banking Corp raised its stake in Rackspace Technology by 98.2% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 33,263 shares of the company’s stock valued at $51,000 after purchasing an additional 16,484 shares during the period. 82.48% of the stock is owned by hedge funds and other institutional investors.
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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