Rackspace Technology (NASDAQ:RXT) EVP Sells $59,915.22 in Stock

Rackspace Technology, Inc. (NASDAQ:RXT) EVP Dharmendra Kumar Sinha sold 59,322 shares of Rackspace Technology stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $1.01, for a total value of $59,915.22. Following the completion of the sale, the executive vice president directly owned 2,509,573 shares in the company, valued at $2,534,668.73. This trade represents a 2.31% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

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

• On Friday, November 28th, Dharmendra Kumar Sinha sold 91,151 shares of Rackspace Technology stock. The stock was sold at an average price of $1.04, for a total transaction of $94,797.04.

Rackspace Technology Stock Up 3.6%

RXT traded up $0.04 on Wednesday, hitting $1.03. The company had a trading volume of 1,782,160 shares, compared to its average volume of 1,087,997. The company has a market cap of $250.90 million, a PE ratio of -0.95 and a beta of 2.13. The business’s fifty day simple moving average is $1.35 and its 200 day simple moving average is $1.31. Rackspace Technology, Inc. has a 12-month low of $0.97 and a 12-month high of $3.03.

Rackspace Technology (NASDAQ:RXT) last issued its quarterly earnings results on Thursday, November 6th. The company reported ($0.05) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.05). The company had revenue of $671.20 million during the quarter, compared to the consensus estimate of $666.83 million. During the same quarter in the prior year, the business earned ($0.04) earnings per share. The firm’s quarterly revenue was down .7% compared to the same quarter last year. Rackspace Technology has set its Q4 2025 guidance at -0.050–0.030 EPS.

Institutional Trading of Rackspace Technology

Institutional investors have recently made changes to their positions in the company. Quadrature Capital Ltd acquired a new position in Rackspace Technology in the 2nd quarter valued at $26,000. Savant Capital LLC purchased a new stake in shares of Rackspace Technology during the third quarter worth $33,000. Creative Planning raised its position in shares of Rackspace Technology by 114.2% in the second quarter. Creative Planning now owns 25,715 shares of the company’s stock valued at $33,000 after buying an additional 13,708 shares during the last quarter. R Squared Ltd lifted its stake in shares of Rackspace Technology by 74.3% in the third quarter. R Squared Ltd now owns 25,127 shares of the company’s stock worth $35,000 after buying an additional 10,707 shares in the last quarter. Finally, Jump Financial LLC acquired a new position in Rackspace Technology during the first quarter worth about $40,000. 82.48% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

RXT has been the subject of a number of research analyst reports. Royal Bank Of Canada decreased their price objective on shares of Rackspace Technology from $2.00 to $1.75 and set a “sector perform” rating for the company in a report on Monday, November 10th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Rackspace Technology in a report on Wednesday, October 8th. BMO Capital Markets cut their price target on shares of Rackspace Technology from $1.75 to $1.40 and set a “market perform” rating on the stock in a research note on Tuesday, August 12th. Finally, Wall Street Zen upgraded shares of Rackspace Technology from a “sell” rating to a “hold” rating in a report on Saturday, September 20th. Four analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Reduce” and an average price target of $1.51.

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.