Anthony Scott Sells 48,780 Shares of Rackspace Technology (NASDAQ:RXT) Stock

Rackspace Technology, Inc. (NASDAQ:RXT) Director Anthony Scott sold 48,780 shares of Rackspace Technology stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $4.25, for a total value of $207,315.00. Following the transaction, the director owned 180,215 shares of the company’s stock, valued at $765,913.75. This represents a 21.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Rackspace Technology Stock Performance

Shares of NASDAQ:RXT opened at $3.52 on Wednesday. The business’s fifty day moving average price is $5.22 and its two-hundred day moving average price is $3.33. The stock has a market cap of $897.14 million, a PE ratio of -5.42 and a beta of 3.05. Rackspace Technology, Inc. has a one year low of $0.39 and a one year high of $8.60.

Rackspace Technology (NASDAQ:RXT) last released its quarterly earnings results on Tuesday, August 11th. The company reported ($0.08) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.01. The company had revenue of $670.10 million during the quarter, compared to analyst estimates of $646.00 million. As a group, equities research analysts predict that Rackspace Technology, Inc. will post -0.28 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Rackspace Technology

Several institutional investors and hedge funds have recently bought and sold shares of the stock. AQR Capital Management LLC raised its stake in Rackspace Technology by 228.6% during the first quarter. AQR Capital Management LLC now owns 264,565 shares of the company’s stock worth $447,000 after purchasing an additional 184,058 shares during the period. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Rackspace Technology during the 1st quarter worth $113,000. Geode Capital Management LLC increased its holdings in shares of Rackspace Technology by 17.9% during the 2nd quarter. Geode Capital Management LLC now owns 2,064,549 shares of the company’s stock worth $2,643,000 after buying an additional 313,636 shares during the last quarter. Creative Planning raised its position in shares of Rackspace Technology by 114.2% in the 2nd quarter. Creative Planning now owns 25,715 shares of the company’s stock worth $33,000 after buying an additional 13,708 shares during the period. Finally, JPMorgan Chase & Co. boosted its holdings in Rackspace Technology by 25.5% in the second quarter. JPMorgan Chase & Co. now owns 1,437,879 shares of the company’s stock valued at $1,840,000 after acquiring an additional 292,249 shares during the last quarter. Institutional investors and hedge funds own 82.48% of the company’s stock.

Analyst Ratings Changes

RXT has been the subject of a number of recent research reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Rackspace Technology in a report on Tuesday, June 2nd. Wall Street Zen lowered shares of Rackspace Technology from a “hold” rating to a “sell” rating in a research report on Saturday. Finally, Royal Bank Of Canada lifted their target price on shares of Rackspace Technology from $2.50 to $4.00 and gave the stock a “sector perform” rating in a research note on Wednesday, June 17th. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and an average target price of $4.00.

Key Stories Impacting Rackspace Technology

Here are the key news stories impacting Rackspace Technology this week:

• Neutral Sentiment: Investors who purchased RXT securities between May 7 and July 8, 2026 have until September 28, 2026 to seek appointment as lead plaintiff. The deadline is procedural and does not establish that the allegations have merit. Rosen Rackspace class-action deadline notice
• Neutral Sentiment: The legal announcements largely repeat allegations that Rackspace misrepresented or omitted information about its enterprise-AI strategy. They provide no new earnings guidance, court ruling, or confirmation of wrongdoing by the company. Kessler Topaz Rackspace class-action announcement
• Negative Sentiment: The lawsuit claims Rackspace cut approximately 15% of its global workforce and exited colocation and basic-hosting businesses to reserve capacity for enterprise AI, while maintaining its full-year revenue outlook until announcing a roughly $150 million reduction on July 9. Such allegations could increase litigation costs, reputational risk, and uncertainty around the company’s AI growth plans. Rackspace securities-fraud lawsuit and stock drop
• Negative Sentiment: Rackspace director Anthony Scott sold 48,780 shares for approximately $207,315, reducing his position by 21.3%. Although insider sales can reflect personal financial decisions, the transaction may add to investor caution amid elevated volatility. Rackspace director stock sale

Rackspace Technology Company Profile

Rackspace Technology (NASDAQ: RXT) is a leading provider of managed multi-cloud solutions and services, specializing in the deployment, management and optimization of public and private cloud environments. The company helps organizations design and operate applications across platforms such as Amazon Web Services (AWS), Microsoft Azure, Google Cloud and its own private cloud infrastructure. Rackspace’s core offerings include cloud migration, application modernization, data protection, security services and 24x7x365 operational support.

Beyond cloud hosting, Rackspace offers a range of professional services designed to accelerate digital transformation initiatives.