Rackspace Technology, Inc. (NASDAQ:RXT) EVP Dharmendra Kumar Sinha Sells 176,374 Shares

Rackspace Technology, Inc. (NASDAQ:RXT) EVP Dharmendra Kumar Sinha sold 176,374 shares of the business’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of $1.87, for a total transaction of $329,819.38. Following the sale, the executive vice president now owns 2,117,455 shares of the company’s stock, valued at $3,959,640.85. This trade represents a 7.69 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link.

Dharmendra Kumar Sinha also recently made the following trade(s):

• On Monday, March 3rd, Dharmendra Kumar Sinha sold 17,480 shares of Rackspace Technology stock. The shares were sold at an average price of $2.37, for a total transaction of $41,427.60.

Rackspace Technology Stock Up 1.1 %

RXT stock traded up $0.02 during midday trading on Wednesday, reaching $1.87. 3,815,720 shares of the company’s stock traded hands, compared to its average volume of 944,922. The company has a market cap of $425.55 million, a price-to-earnings ratio of -0.48 and a beta of 2.05. The firm’s fifty day moving average price is $2.50 and its 200-day moving average price is $2.48. Rackspace Technology, Inc. has a 52 week low of $1.45 and a 52 week high of $3.41.

Rackspace Technology (NASDAQ:RXT) last posted its quarterly earnings data on Thursday, February 20th. The company reported ($0.02) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.02. The firm had revenue of $685.60 million for the quarter, compared to analysts’ expectations of $674.85 million.

Hedge Funds Weigh In On Rackspace Technology

Hedge funds have recently bought and sold shares of the company. Balyasny Asset Management L.P. purchased a new position in Rackspace Technology during the 4th quarter worth $36,000. MetLife Investment Management LLC boosted its holdings in shares of Rackspace Technology by 89.4% in the 4th quarter. MetLife Investment Management LLC now owns 17,539 shares of the company’s stock worth $39,000 after buying an additional 8,281 shares during the last quarter. US Bancorp DE boosted its holdings in shares of Rackspace Technology by 10,766.2% in the 3rd quarter. US Bancorp DE now owns 16,408 shares of the company’s stock worth $40,000 after buying an additional 16,257 shares during the last quarter. ProShare Advisors LLC boosted its holdings in shares of Rackspace Technology by 50.6% in the 4th quarter. ProShare Advisors LLC now owns 19,030 shares of the company’s stock worth $42,000 after buying an additional 6,398 shares during the last quarter. Finally, Aquatic Capital Management LLC purchased a new position in shares of Rackspace Technology in the 4th quarter worth about $45,000. 82.48% of the stock is owned by hedge funds and other institutional investors.

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.