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

Rackspace Technology, Inc. (NASDAQ:RXT) Director Anthony Scott sold 48,780 shares of the business’s stock in a transaction 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 completion of the transaction, the director directly owned 180,215 shares of the company’s stock, valued at approximately $765,913.75. The trade was a 21.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

Rackspace Technology Price Performance

Shares of NASDAQ RXT opened at $3.95 on Tuesday. 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 moving average price of $5.24 and a 200 day moving average price of $3.31. The stock has a market capitalization of $1.01 billion, a P/E ratio of -6.08 and a beta of 3.05.

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

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Royal Bank Of Canada raised their target price on shares of Rackspace Technology from $2.50 to $4.00 and gave the company a “sector perform” rating in a research note on Wednesday, June 17th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Rackspace Technology in a report on Tuesday, June 2nd. Finally, Wall Street Zen cut Rackspace Technology from a “hold” rating to a “sell” rating in a research report on Saturday. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Reduce” and an average target price of $4.00.

Hedge Funds Weigh In On Rackspace Technology

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

Rackspace Technology News Summary

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

• Neutral Sentiment: Several law firms announced or promoted the same pending federal securities class action, with a September 28, 2026 deadline for investors to seek appointment as lead plaintiff. The notices target investors who purchased Rackspace securities between May 7 and July 8, 2026; the deadline itself does not establish that the allegations are valid. Rackspace Technology securities fraud class-action deadline
• Negative Sentiment: The lawsuits allege that Rackspace and certain executives made material misstatements or omissions concerning the company’s enterprise AI efforts. One notice linked the case to a reported stock decline of roughly 33%, raising concerns about potential litigation costs, management distraction, and reputational damage if the claims advance. Rackspace securities fraud class action after AI effort issues
• Negative Sentiment: The concentrated legal-news coverage adds uncertainty around Rackspace’s AI growth narrative and could keep volatility elevated. The announcements are largely investor-solicitation notices repeating the same allegations, rather than new company operating results or a court finding against Rackspace. Faruqi Rackspace class-action notice

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.