Wellington Management Group LLP Acquires Shares of 296,344 Rackspace Technology, Inc. $RXT

Wellington Management Group LLP bought a new position in Rackspace Technology, Inc. (NASDAQ:RXT) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 296,344 shares of the company’s stock, valued at approximately $1,935,000. Wellington Management Group LLP owned approximately 0.12% of Rackspace Technology as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the stock. AQR Capital Management LLC increased its stake in shares of Rackspace Technology by 228.6% in the first quarter. AQR Capital Management LLC now owns 264,565 shares of the company’s stock worth $447,000 after acquiring an additional 184,058 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Rackspace Technology during the first quarter worth $113,000. Geode Capital Management LLC boosted its position in Rackspace Technology by 17.9% during the second 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 grew its stake in Rackspace Technology by 114.2% in the second quarter. Creative Planning now owns 25,715 shares of the company’s stock valued at $33,000 after purchasing an additional 13,708 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its stake in Rackspace Technology by 25.5% in the second quarter. JPMorgan Chase & Co. now owns 1,437,879 shares of the company’s stock valued at $1,840,000 after purchasing an additional 292,249 shares in the last quarter. Institutional investors and hedge funds own 82.48% of the company’s stock.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling

In other Rackspace Technology news, Director Anthony Scott sold 48,780 shares of the company’s stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $4.25, for a total transaction of $207,315.00. Following the completion of the sale, the director owned 180,215 shares of the company’s stock, valued at $765,913.75. This represents a 21.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Dharmendra Sinha sold 107,002 shares of the stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $2.95, for a total value 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. This trade represents a 3.17% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 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. Insiders sold 714,141 shares of company stock worth $2,299,799 over the last ninety days. Company insiders own 2.30% of the company’s stock.

Rackspace Technology Price Performance

NASDAQ RXT opened at $3.13 on Friday. Rackspace Technology, Inc. has a fifty-two week low of $0.39 and a fifty-two week high of $8.60. The stock’s 50-day moving average is $4.13 and its two-hundred day moving average is $3.64. The firm has a market cap of $797.74 million, a P/E ratio of -4.82 and a beta of 3.05.

Rackspace Technology (NASDAQ:RXT) last released its quarterly earnings results on Monday, August 10th. The company reported ($0.08) earnings per share (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 the consensus estimate of $646.00 million. On average, equities analysts expect that Rackspace Technology, Inc. will post -0.28 EPS for the current year.

Trending Headlines about Rackspace Technology

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

• Positive Sentiment: Rackspace announced that it has joined the NVIDIA Cloud Partner Program and will offer Blackwell-powered AI infrastructure for regulated enterprises and governments. The offering combines NVIDIA accelerated computing, Palantir software and Rackspace-managed private cloud, potentially strengthening the company’s position in the growing sovereign-AI market. Rackspace NVIDIA Cloud Partner Program announcement
• Neutral Sentiment: CEO Gajakarnan Vibushanan Kandiah sold 498,728 shares for approximately $1.6 million. The transaction was conducted under a pre-arranged Rule 10b5-1 plan and was intended to cover tax-withholding obligations tied to vested equity awards, making it less indicative of a discretionary loss of confidence. SEC insider transaction filing
• Negative Sentiment: Several law firms publicized a securities class action against Rackspace and urged investors to seek lead-plaintiff status by September 28, 2026. The proposed class covers investors who purchased RXT securities from May 7 through July 8, 2026. Repeated announcements are increasing investor attention on potential legal liabilities. Rackspace securities lawsuit deadline
• Negative Sentiment: The lawsuits allege that Rackspace made material misstatements or omissions about its enterprise AI efforts, including workforce reductions, exits from certain hosting businesses and the subsequent reduction of full-year revenue guidance by $150 million. The allegations have not been proven in court but create an overhang for RXT. Rackspace shareholder lawsuit 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.