Rackspace Technology, Inc. (NASDAQ:RXT) CFO Sells $37,805.79 in Stock

Rackspace Technology, Inc. (NASDAQ:RXT) CFO Mark A. Marino sold 20,217 shares of the business’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $1.87, for a total transaction of $37,805.79. Following the completion of the sale, the chief financial officer now owns 1,917,446 shares in the company, valued at approximately $3,585,624.02. The trade was a 1.04 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Rackspace Technology Trading Up 1.1 %

Shares of NASDAQ:RXT traded up $0.02 during trading on Wednesday, reaching $1.87. The company’s stock had a trading volume of 3,815,720 shares, compared to its average volume of 944,922. Rackspace Technology, Inc. has a 12 month low of $1.45 and a 12 month high of $3.41. The firm’s 50 day simple moving average is $2.50 and its two-hundred day simple moving average is $2.48. The stock has a market capitalization of $425.55 million, a PE ratio of -0.48 and a beta of 2.05.

Rackspace Technology (NASDAQ:RXT) last announced its quarterly earnings data on Thursday, February 20th. The company reported ($0.02) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.04) by $0.02. The firm had revenue of $685.60 million during the quarter, compared to the consensus estimate of $674.85 million.

Institutional Trading of Rackspace Technology

Several institutional investors have recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. increased its position in shares of Rackspace Technology by 0.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 595,860 shares of the company’s stock worth $1,317,000 after acquiring an additional 5,136 shares during the period. Price T Rowe Associates Inc. MD increased its position in shares of Rackspace Technology by 24.1% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 26,807 shares of the company’s stock worth $60,000 after acquiring an additional 5,214 shares during the period. ProShare Advisors LLC increased its position in shares of Rackspace Technology by 50.6% during the fourth quarter. ProShare Advisors LLC now owns 19,030 shares of the company’s stock worth $42,000 after acquiring an additional 6,398 shares during the period. MetLife Investment Management LLC increased its holdings in Rackspace Technology by 89.4% during the fourth quarter. MetLife Investment Management LLC now owns 17,539 shares of the company’s stock valued at $39,000 after buying an additional 8,281 shares during the period. Finally, Invesco Ltd. increased its holdings in Rackspace Technology by 1.6% during the fourth quarter. Invesco Ltd. now owns 610,261 shares of the company’s stock valued at $1,349,000 after buying an additional 9,825 shares during the period. Institutional investors own 82.48% of the company’s stock.

Rackspace Technology Company Profile

Rackspace Technology, Inc operates as a multi cloud technology services company in the Americas, Europe, the Middle East, Africa, and The Asia-Pacific region. It operates through three segments: Multicloud Services, Apps & Cross Platform, and OpenStack Public Cloud. The company provides public and private cloud managed services, which allow customers to determine, manage, and optimize the right infrastructure, platforms, and services; professional services related to designing and building multi cloud solutions and cloud-native applications; and managed hosting and colocation services.