Polar Asset Management Partners Inc. Acquires New Shares in Rackspace Technology, Inc. $RXT

Polar Asset Management Partners Inc. purchased a new stake in shares of Rackspace Technology, Inc. (NASDAQ:RXT) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 167,000 shares of the company’s stock, valued at approximately $1,091,000.

Several other hedge funds have also bought and sold shares of the stock. AQR Capital Management LLC raised its position in shares of Rackspace Technology by 228.6% during the 1st quarter. AQR Capital Management LLC now owns 264,565 shares of the company’s stock valued at $447,000 after purchasing an additional 184,058 shares during the period. Dynamic Technology Lab Private Ltd bought a new position in shares of Rackspace Technology in the 1st quarter valued at about $113,000. Geode Capital Management LLC lifted its stake in shares of 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 purchasing an additional 313,636 shares during the last quarter. Creative Planning lifted its position in Rackspace Technology by 114.2% in the second 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 last quarter. Finally, JPMorgan Chase & Co. boosted its stake in shares of 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 during the period. Institutional investors own 82.48% of the company’s stock.

Insider Buying and Selling

In related news, CFO Mark A. Marino sold 48,099 shares of the business’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 value of $267,430.44. Following the completion of the sale, the chief financial officer owned 3,370,431 shares in the company, valued at approximately $18,739,596.36. The trade was a 1.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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. Also, Director Anthony Scott sold 48,780 shares of the firm’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 transaction, the director owned 180,215 shares in the company, valued at $765,913.75. The trade was a 21.30% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 2.30% of the stock is currently owned by insiders.

More Rackspace Technology News

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

Analyst Upgrades and Downgrades

Several equities analysts recently commented on RXT shares. Royal Bank Of Canada upped their price target on shares of Rackspace Technology from $2.50 to $4.00 and gave the company a “sector perform” rating in a report on Wednesday, June 17th. Wall Street Zen lowered Rackspace Technology from a “hold” rating to a “sell” rating in a research report on Saturday, August 15th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Rackspace Technology in a research note on Tuesday, June 2nd. One analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Reduce” and an average price target of $4.00.

Rackspace Technology Stock Performance

Shares of RXT opened at $3.40 on Thursday. The firm has a fifty day moving average price of $4.89 and a 200-day moving average price of $3.44. The firm has a market capitalization of $866.56 million, a P/E ratio of -5.23 and a beta of 3.05. Rackspace Technology, Inc. has a 12-month low of $0.39 and a 12-month high of $8.60.

Rackspace Technology (NASDAQ:RXT) last posted its quarterly earnings results 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 during the quarter, compared to analysts’ expectations of $646.00 million. Analysts predict that Rackspace Technology, Inc. will post -0.28 earnings per share for the current year.

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.