Polar Asset Management Partners Inc. Takes $1.09 Million Position in Rackspace Technology, Inc. $RXT

Polar Asset Management Partners Inc. bought a new stake in shares of Rackspace Technology, Inc. (NASDAQ:RXT) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund bought 167,000 shares of the company’s stock, valued at approximately $1,091,000. Polar Asset Management Partners Inc. owned 0.07% of Rackspace Technology as of its most recent SEC filing.

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

Insider Transactions at Rackspace Technology

In other Rackspace Technology news, Director Anthony Scott sold 48,780 shares of the firm’s stock in a transaction on Friday, August 14th. The shares were sold at an average price of $4.25, for a total value of $207,315.00. Following the completion of the transaction, the director directly owned 180,215 shares of the company’s stock, valued at $765,913.75. This trade represents a 21.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Mark A. Marino sold 48,099 shares of the company’s stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $5.56, for a total transaction of $267,430.44. Following the completion of the transaction, the chief financial officer owned 3,370,431 shares in the company, valued at approximately $18,739,596.36. This trade represents a 1.41% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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. Corporate insiders own 2.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on RXT. Weiss Ratings restated a “sell (d-)” rating on shares of Rackspace Technology in a report on Tuesday, June 2nd. Royal Bank Of Canada lifted their price objective on shares of Rackspace Technology from $2.50 to $4.00 and gave the stock a “sector perform” rating in a report on Wednesday, June 17th. Finally, Wall Street Zen lowered shares of Rackspace Technology from a “hold” rating to a “sell” rating in a research note on Saturday, August 15th. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Reduce” and a consensus price target of $4.00.

Key Stories Impacting Rackspace Technology

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

• Positive Sentiment: Rackspace launched Rackspace Cloud, a fully managed, multitenant platform built on VMware Cloud Foundation 9.1. The service is designed to provide elastic capacity for virtual machines, Kubernetes and production artificial-intelligence workloads, potentially supporting future enterprise demand and revenue growth. Rackspace Technology Launches Rackspace Cloud
• Neutral Sentiment: Investors purchased about 29,351 call options on Wednesday, approximately 57% above typical call-option volume. This may indicate increased bullish speculation, although options activity does not confirm a fundamental improvement in the company’s outlook.
• Negative Sentiment: Multiple law firms—including Rosen, Kaplan Fox, Robbins, Faruqi & Faruqi, Levi & Korsinsky, Bleichmar Fonti & Auld and others—repeatedly reminded RXT investors about a securities class action and the September 28, 2026 lead-plaintiff deadline. The repetition increases visibility around the legal overhang and could pressure sentiment. Rosen Rackspace Securities Class Action Notice
• Negative Sentiment: The lawsuit alleges that Rackspace misled investors about its artificial-intelligence strategy and financial performance. The allegations cite a reported 15% workforce reduction, the planned exit from colocation and basic hosting businesses, continued revenue targets, and a subsequent $150 million reduction in full-year guidance that was followed by a roughly 33.6% stock decline. These claims have not been proven in court. Rackspace AI Effort Securities Class Action

Rackspace Technology Price Performance

NASDAQ:RXT opened at $3.40 on Thursday. Rackspace Technology, Inc. has a 1 year low of $0.39 and a 1 year high of $8.60. The business has a fifty day simple moving average of $4.89 and a two-hundred day simple moving average of $3.44. The company has a market capitalization of $866.56 million, a P/E ratio of -5.23 and a beta of 3.05.

Rackspace Technology (NASDAQ:RXT) last released its quarterly earnings data on Monday, August 10th. The company reported ($0.08) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.01. The company had revenue of $670.10 million for the quarter, compared to the consensus estimate of $646.00 million. As a group, analysts anticipate that Rackspace Technology, Inc. will post -0.28 earnings per share for the current year.

About Rackspace Technology

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.