Rackspace Technology (NASDAQ:RXT) EVP Dharmendra Kumar Sinha Sells 107,002 Shares of Stock

Rackspace Technology, Inc. (NASDAQ:RXT) EVP Dharmendra Kumar Sinha sold 107,002 shares of the stock in a transaction dated Wednesday, September 2nd. The stock was sold at an average price of $2.95, for a total transaction of $315,655.90. Following the transaction, the executive vice president owned 3,263,429 shares in the company, valued at approximately $9,627,115.55. The trade was a 3.17% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 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 Stock Performance

NASDAQ RXT opened at $3.01 on Thursday. Rackspace Technology, Inc. has a one year low of $0.39 and a one year 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 company’s 50-day simple moving average is $4.50 and its two-hundred day simple moving average is $3.54.

Rackspace Technology (NASDAQ:RXT) last announced its quarterly earnings results on Monday, August 10th. The company reported ($0.08) earnings per share for the quarter, topping the consensus estimate of ($0.09) by $0.01. The business had revenue of $670.10 million during the quarter, compared to analysts’ expectations of $646.00 million. Equities analysts expect that Rackspace Technology, Inc. will post -0.28 earnings per share for the current fiscal year.

Institutional Trading of Rackspace Technology

Several hedge funds and other institutional investors have recently made changes to their positions in the business. BlackRock Inc. purchased a new position in Rackspace Technology during the 2nd quarter worth $51,411,000. Vanguard Group Inc. raised its stake in Rackspace Technology by 6.1% in the third quarter. Vanguard Group Inc. now owns 6,288,882 shares of the company’s stock valued at $8,867,000 after buying an additional 359,087 shares during the last quarter. Janus Henderson Group PLC boosted its holdings in Rackspace Technology by 179.7% in the first 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. Geode Capital Management LLC raised its holdings in shares of Rackspace Technology by 4.2% in the fourth quarter. Geode Capital Management LLC now owns 2,408,000 shares of the company’s stock worth $2,338,000 after buying an additional 96,760 shares during the last quarter. Finally, Renaissance Technologies LLC raised its holdings in shares of Rackspace Technology by 14.0% in the first quarter. Renaissance Technologies LLC now owns 2,041,600 shares of the company’s stock worth $2,000,000 after buying an additional 250,700 shares during the last quarter. Hedge funds and other institutional investors own 82.48% of the company’s stock.

Key Stories 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

Analyst Ratings Changes

A number of research analysts have recently issued reports on RXT shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Rackspace Technology in a report on Friday, August 28th. Wall Street Zen cut Rackspace Technology from a “hold” rating to a “sell” rating in a research note on Saturday, August 15th. Finally, Royal Bank Of Canada raised their price objective 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 research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Reduce” and an average price target of $4.00.

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.