Rackspace Technology, Inc. (NASDAQ:RXT) Sees Large Growth in Short Interest

Rackspace Technology, Inc. (NASDAQ:RXT) was the target of a large growth in short interest in February. As of February 13th, there was short interest totaling 12,895,212 shares, a growth of 41.2% from the January 29th total of 9,134,292 shares. Based on an average daily volume of 3,162,409 shares, the days-to-cover ratio is currently 4.1 days. Currently, 5.5% of the shares of the stock are short sold. Currently, 5.5% of the shares of the stock are short sold. Based on an average daily volume of 3,162,409 shares, the days-to-cover ratio is currently 4.1 days.

Insider Activity at Rackspace Technology

In other news, CFO Mark A. Marino sold 20,183 shares of the stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $1.81, for a total transaction of $36,531.23. Following the completion of the sale, the chief financial officer owned 2,172,932 shares in the company, valued at approximately $3,933,006.92. This represents a 0.92% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Dharmendra Kumar Sinha sold 45,393 shares of the firm’s stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $1.81, for a total value of $82,161.33. Following the sale, the executive vice president directly owned 2,464,180 shares of the company’s stock, valued at approximately $4,460,165.80. This represents a 1.81% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 300,259 shares of company stock valued at $501,226. Company insiders own 2.90% of the company’s stock.

Institutional Trading of Rackspace Technology

Several hedge funds and other institutional investors have recently modified their holdings of RXT. AustralianSuper Pty Ltd acquired a new position in Rackspace Technology in the 3rd quarter worth about $2,276,000. Vanguard Group Inc. grew its stake in shares of Rackspace Technology by 6.1% in the 3rd quarter. Vanguard Group Inc. now owns 6,288,882 shares of the company’s stock valued at $8,867,000 after buying an additional 359,087 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in Rackspace Technology by 1.8% in the third quarter. JPMorgan Chase & Co. now owns 1,464,389 shares of the company’s stock worth $2,065,000 after buying an additional 26,510 shares during the last quarter. Engineers Gate Manager LP increased its holdings in Rackspace Technology by 47.1% in the second quarter. Engineers Gate Manager LP now owns 34,777 shares of the company’s stock worth $45,000 after buying an additional 11,141 shares during the last quarter. Finally, BNP Paribas Financial Markets raised its position in Rackspace Technology by 25.4% during the second quarter. BNP Paribas Financial Markets now owns 119,493 shares of the company’s stock valued at $153,000 after acquiring an additional 24,173 shares in the last quarter. 82.48% of the stock is currently owned by hedge funds and other institutional investors.

Trending Headlines about Rackspace Technology

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

• Positive Sentiment: Royal Bank of Canada raised its price target on RXT to $2.50 (from $1.75) and kept a sector‑perform view — a near‑term bullish analyst signal that likely helped lift the stock. Price Target Raised to $2.50
• Positive Sentiment: Large institutional moves were reported (AQR, Geode and others increasing or establishing positions), which supports demand and liquidity for the shares and can underpin further upside. MarketBeat RXT Overview
• Neutral Sentiment: Short interest update was published (coverage note), which could be interpreted either way depending on whether short positions rose or fell; the article itself should be checked for specifics before drawing conclusions. Short Interest Update
• Negative Sentiment: Two senior executives sold stock on March 2: EVP Dharmendra Kumar Sinha sold 45,393 shares and CFO Mark A. Marino sold 20,183 shares, both at about $1.81 — insider exits can spook investors even though both retain large post‑sale positions. See the SEC/insider filings for details. EVP Form 4 CFO Form 4

Rackspace Technology Stock Performance

Rackspace Technology stock opened at $2.46 on Wednesday. Rackspace Technology has a twelve month low of $0.39 and a twelve month high of $2.74. The firm has a market cap of $599.23 million, a PE ratio of -2.59 and a beta of 1.80. The firm’s 50 day moving average price is $0.97 and its two-hundred day moving average price is $1.19.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on RXT shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Rackspace Technology in a research note on Thursday, January 22nd. Royal Bank Of Canada increased their target price on Rackspace Technology from $1.75 to $2.50 and gave the company a “sector perform” rating in a report on Friday, February 27th. Four investment analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and an average price target of $1.70.

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.