Rackspace Technology, Inc. (NASDAQ:RXT) Insider Sells $138,327.64 in Stock

Rackspace Technology, Inc. (NASDAQ:RXT) insider Srini Koushik sold 73,972 shares of the business’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $1.87, for a total value of $138,327.64. Following the sale, the insider now owns 935,114 shares in the company, valued at approximately $1,748,663.18. The trade was a 7.33 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

Srini Koushik also recently made the following trade(s):

• On Monday, March 3rd, Srini Koushik sold 9,165 shares of Rackspace Technology stock. The shares were sold at an average price of $2.37, for a total value of $21,721.05.

Rackspace Technology Price Performance

Rackspace Technology stock opened at $1.87 on Friday. The firm has a market capitalization of $425.55 million, a PE 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 firm’s 50-day simple moving average is $2.48 and its 200 day simple moving average is $2.48.

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

Institutional Investors Weigh In On Rackspace Technology

A number of large investors have recently bought and sold shares of RXT. Charles Schwab Investment Management Inc. raised its holdings in shares of Rackspace Technology by 0.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 595,860 shares of the company’s stock worth $1,317,000 after acquiring an additional 5,136 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in Rackspace Technology by 24.1% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 26,807 shares of the company’s stock valued at $60,000 after purchasing an additional 5,214 shares during the last quarter. ProShare Advisors LLC lifted its holdings in Rackspace Technology by 50.6% in the 4th quarter. ProShare Advisors LLC now owns 19,030 shares of the company’s stock valued at $42,000 after purchasing an additional 6,398 shares in the last quarter. MetLife Investment Management LLC boosted its stake in shares of Rackspace Technology by 89.4% during the 4th quarter. MetLife Investment Management LLC now owns 17,539 shares of the company’s stock worth $39,000 after purchasing an additional 8,281 shares during the last quarter. Finally, Invesco Ltd. grew its holdings in shares of Rackspace Technology by 1.6% during the fourth quarter. Invesco Ltd. now owns 610,261 shares of the company’s stock worth $1,349,000 after buying an additional 9,825 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.