Insider Selling: Rackspace Technology, Inc. (NASDAQ:RXT) EVP Sells $329,819.38 in Stock

Rackspace Technology, Inc. (NASDAQ:RXT) EVP Dharmendra Kumar Sinha sold 176,374 shares of the firm’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $1.87, for a total value of $329,819.38. Following the completion of the transaction, the executive vice president now owns 2,117,455 shares of the company’s stock, valued at approximately $3,959,640.85. The trade was a 7.69 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

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 value of $41,427.60.

Rackspace Technology Stock Performance

Shares of RXT opened at $1.87 on Friday. Rackspace Technology, Inc. has a 12 month low of $1.45 and a 12 month high of $3.41. The stock’s 50 day moving average is $2.48 and its two-hundred day moving average is $2.48. The firm has a market cap of $425.55 million, a P/E ratio of -0.48 and a beta of 2.05.

Rackspace Technology (NASDAQ:RXT) last issued its quarterly earnings data on Thursday, February 20th. The company reported ($0.02) 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 analyst estimates of $674.85 million.

Institutional Trading of Rackspace Technology

Institutional investors have recently made changes to their positions in the company. Jacobs Levy Equity Management Inc. boosted its stake in shares of Rackspace Technology by 139.4% in the third quarter. Jacobs Levy Equity Management Inc. now owns 814,624 shares of the company’s stock worth $1,996,000 after acquiring an additional 474,299 shares during the last quarter. US Bancorp DE raised its position in Rackspace Technology by 10,766.2% in the third quarter. US Bancorp DE now owns 16,408 shares of the company’s stock valued at $40,000 after purchasing an additional 16,257 shares during the period. Jane Street Group LLC raised its position in Rackspace Technology by 27.4% in the third quarter. Jane Street Group LLC now owns 773,454 shares of the company’s stock valued at $1,895,000 after purchasing an additional 166,528 shares during the period. FMR LLC raised its holdings in shares of Rackspace Technology by 437.5% in the 3rd quarter. FMR LLC now owns 31,154 shares of the company’s stock valued at $76,000 after buying an additional 25,358 shares during the period. Finally, Barclays PLC raised its holdings in shares of Rackspace Technology by 86.1% in the 3rd quarter. Barclays PLC now owns 109,997 shares of the company’s stock valued at $270,000 after buying an additional 50,896 shares during the period. 82.48% of the stock is owned by institutional investors and hedge funds.

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.