Rackspace Technology, Inc. (NASDAQ:RXT) CFO Sells $37,805.79 in Stock

Rackspace Technology, Inc. (NASDAQ:RXT) CFO Mark A. Marino sold 20,217 shares of the stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $1.87, for a total transaction of $37,805.79. Following the completion of the sale, the chief financial officer now directly owns 1,917,446 shares in the company, valued at approximately $3,585,624.02. The trade was a 1.04 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Rackspace Technology Trading Up 1.1 %

Shares of NASDAQ RXT opened at $1.87 on Thursday. The stock has a market cap of $425.55 million, a price-to-earnings ratio of -0.48 and a beta of 2.05. Rackspace Technology, Inc. has a 52 week low of $1.45 and a 52 week high of $3.41. The company’s 50-day moving average price is $2.50 and its 200 day moving average price is $2.48.

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

Institutional Trading of Rackspace Technology

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Two Sigma Advisers LP increased its position in Rackspace Technology by 243.1% during the 4th quarter. Two Sigma Advisers LP now owns 264,200 shares of the company’s stock worth $584,000 after purchasing an additional 187,200 shares in the last quarter. Two Sigma Investments LP increased its position in Rackspace Technology by 1,692.6% during the 4th quarter. Two Sigma Investments LP now owns 406,621 shares of the company’s stock worth $899,000 after purchasing an additional 383,938 shares in the last quarter. ProShare Advisors LLC increased its position in Rackspace Technology by 50.6% during the 4th quarter. ProShare Advisors LLC now owns 19,030 shares of the company’s stock worth $42,000 after purchasing an additional 6,398 shares in the last quarter. Millennium Management LLC grew its position in Rackspace Technology by 38.0% in the fourth quarter. Millennium Management LLC now owns 490,994 shares of the company’s stock valued at $1,085,000 after acquiring an additional 135,140 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. grew its position in Rackspace Technology by 8.2% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 881,148 shares of the company’s stock valued at $1,947,000 after acquiring an additional 66,524 shares in the last quarter. Institutional investors and hedge funds 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.