Rackspace Technology (NASDAQ:RXT) EVP Dharmendra Kumar Sinha Sells 107,002 Shares of Stock

Rackspace Technology, Inc. (NASDAQ:RXT) EVP Dharmendra Kumar Sinha sold 107,002 shares of the firm’s stock in a transaction that occurred on Wednesday, September 2nd. The stock was sold at an average price of $2.95, for a total transaction of $315,655.90. Following the sale, the executive vice president owned 3,263,429 shares in the company, valued at approximately $9,627,115.55. The trade was a 3.17% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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.

Rackspace Technology Price Performance

Shares of NASDAQ RXT traded up $0.01 during mid-day trading on Wednesday, reaching $3.01. The company’s stock had a trading volume of 6,300,549 shares, compared to its average volume of 7,284,960. The firm has a market capitalization of $767.16 million, a PE ratio of -4.63 and a beta of 3.05. Rackspace Technology, Inc. has a 52 week low of $0.39 and a 52 week high of $8.60. The stock has a fifty day moving average of $4.50 and a two-hundred day moving average of $3.54.

Rackspace Technology (NASDAQ:RXT) last released its 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 anticipate that Rackspace Technology, Inc. will post -0.28 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on RXT shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Rackspace Technology in a report on Friday, August 28th. Wall Street Zen downgraded Rackspace Technology from a “hold” rating to a “sell” rating in a research report on Saturday, August 15th. Finally, Royal Bank Of Canada increased their target price 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. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus price target of $4.00.

Institutional Trading of Rackspace Technology

A number of institutional investors have recently bought and sold shares of the stock. Corient Private Wealth LP acquired a new stake in Rackspace Technology during the second quarter worth about $297,000. California State Teachers Retirement System acquired a new position in Rackspace Technology in the second quarter valued at approximately $51,000. Lakeshore Financial Planning Inc. acquired a new position in Rackspace Technology in the second quarter valued at approximately $424,000. AXQ Capital LP boosted its position in Rackspace Technology by 239.8% in the 2nd quarter. AXQ Capital LP now owns 54,161 shares of the company’s stock worth $354,000 after purchasing an additional 38,222 shares in the last quarter. Finally, Proficio Capital Partners LLC acquired a new stake in shares of Rackspace Technology during the 2nd quarter worth approximately $119,000. 82.48% of the stock is currently owned by institutional investors and hedge funds.

Key Stories Impacting Rackspace Technology

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

• Neutral Sentiment: Investors who purchased Rackspace securities between May 7 and July 8, 2026, and suffered losses, may seek appointment as lead plaintiff by September 28. These notices are procedural and do not establish that Rackspace committed wrongdoing. Kaplan Fox deadline announcement
• Negative Sentiment: The lawsuit alleges that Rackspace and certain executives made misleading statements or failed to disclose material information about the company’s artificial-intelligence efforts and their expected impact on financial performance. Bleichmar Fonti & Auld lawsuit announcement
• Negative Sentiment: One litigation notice claims Rackspace’s June restructuring filing disclosed severance costs and anticipated savings but allegedly omitted a roughly $150 million revenue shortfall that surfaced about three weeks later. The allegations followed a reported 33.6% stock decline, increasing legal, reputational and potential financial risks for RXT. SueWallSt Rackspace deadline 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.