Mark Marino Sells 51,373 Shares of Rackspace Technology (NASDAQ:RXT) Stock

Rackspace Technology, Inc. (NASDAQ:RXT) CFO Mark Marino sold 51,373 shares of Rackspace Technology stock in a transaction that occurred on Wednesday, September 2nd. The stock was sold at an average price of $2.95, for a total transaction of $151,550.35. Following the completion of the sale, the chief financial officer owned 2,865,853 shares of the company’s stock, valued at $8,454,266.35. This trade represents a 1.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Rackspace Technology Price Performance

Rackspace Technology stock traded up $0.01 during mid-day trading on Wednesday, reaching $3.01. 6,300,549 shares of the company traded hands, compared to its average volume of 7,284,960. Rackspace Technology, Inc. has a fifty-two week low of $0.39 and a fifty-two week high of $8.60. The company has a market capitalization of $767.16 million, a price-to-earnings ratio of -4.63 and a beta of 3.05. The firm’s fifty day moving average is $4.50 and its two-hundred day moving average is $3.54.

Rackspace Technology (NASDAQ:RXT) last posted its quarterly earnings data on Monday, August 10th. The company reported ($0.08) EPS for the quarter, topping the consensus estimate of ($0.09) by $0.01. The company had revenue of $670.10 million for 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 year.

Institutional Trading of Rackspace Technology

A number of hedge funds have recently modified their holdings of the stock. BlackRock Inc. purchased a new position in shares of Rackspace Technology during the 2nd quarter valued at approximately $51,411,000. Janus Henderson Group PLC increased its holdings in Rackspace Technology by 179.7% in the 1st quarter. Janus Henderson Group PLC now owns 2,937,670 shares of the company’s stock worth $2,878,000 after acquiring an additional 1,887,317 shares in the last quarter. Jupiter Topco LLC acquired a new position in Rackspace Technology during the second quarter worth $10,462,000. Ieq Capital LLC purchased a new position in Rackspace Technology during the second quarter valued at $4,161,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in Rackspace Technology during the second quarter valued at $3,887,000. Hedge funds and other institutional investors own 82.48% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on RXT shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Rackspace Technology in a report on Friday, August 28th. Wall Street Zen downgraded Rackspace Technology from a “hold” rating to a “sell” rating in a report on Saturday, August 15th. Finally, Royal Bank Of Canada upped their target price on Rackspace Technology from $2.50 to $4.00 and gave the company a “sector perform” rating in a research report on Wednesday, June 17th. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus target price of $4.00.

Key Headlines Impacting Rackspace Technology

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

• Neutral Sentiment: Investors who purchased Rackspace securities between May 7 and July 8, 2026, and suffered losses, may seek appointment as lead plaintiff by September 28. These notices are procedural and do not establish that Rackspace committed wrongdoing. Kaplan Fox deadline announcement
• Negative Sentiment: The lawsuit alleges that Rackspace and certain executives made misleading statements or failed to disclose material information about the company’s artificial-intelligence efforts and their expected impact on financial performance. Bleichmar Fonti & Auld lawsuit announcement
• Negative Sentiment: One litigation notice claims Rackspace’s June restructuring filing disclosed severance costs and anticipated savings but allegedly omitted a roughly $150 million revenue shortfall that surfaced about three weeks later. The allegations followed a reported 33.6% stock decline, increasing legal, reputational and potential financial risks for RXT. SueWallSt Rackspace deadline alert

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.