Rackspace Technology, Inc. (NASDAQ:RXT) CFO Mark A. Marino Sells 20,217 Shares

Rackspace Technology, Inc. (NASDAQ:RXT) CFO Mark A. Marino sold 20,217 shares of the company’s stock in a transaction on Monday, March 17th. The shares were 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 of the company’s stock, valued at approximately $3,585,624.02. This trade represents a 1.04 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Rackspace Technology Stock Performance

Shares of RXT opened at $1.87 on Thursday. The stock has a market capitalization of $425.55 million, a P/E ratio of -0.48 and a beta of 2.05. The company’s fifty day moving average is $2.50 and its two-hundred day moving average is $2.48. Rackspace Technology, Inc. has a 1 year low of $1.45 and a 1 year high of $3.41.

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, beating the consensus estimate of ($0.04) by $0.02. The firm had revenue of $685.60 million during the quarter, compared to analyst estimates of $674.85 million.

Hedge Funds Weigh In On Rackspace Technology

Institutional investors and hedge funds have recently made changes to their positions in the stock. Jacobs Levy Equity Management Inc. grew its stake in shares of Rackspace Technology by 139.4% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 814,624 shares of the company’s stock worth $1,996,000 after purchasing an additional 474,299 shares during the period. US Bancorp DE grew its stake in shares of Rackspace Technology by 10,766.2% during the 3rd quarter. US Bancorp DE now owns 16,408 shares of the company’s stock worth $40,000 after purchasing an additional 16,257 shares during the period. Jane Street Group LLC grew its stake in shares of Rackspace Technology by 27.4% during the 3rd quarter. Jane Street Group LLC now owns 773,454 shares of the company’s stock worth $1,895,000 after purchasing an additional 166,528 shares during the period. FMR LLC grew its stake in shares of Rackspace Technology by 437.5% during the 3rd quarter. FMR LLC now owns 31,154 shares of the company’s stock worth $76,000 after purchasing an additional 25,358 shares during the period. Finally, Barclays PLC grew its stake in shares of Rackspace Technology by 86.1% during the 3rd quarter. Barclays PLC now owns 109,997 shares of the company’s stock worth $270,000 after purchasing an additional 50,896 shares during the period. 82.48% of the stock is owned by institutional investors and hedge funds.

About Rackspace Technology

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.