Anthony Scott Sells 48,780 Shares of Rackspace Technology (NASDAQ:RXT) Stock

Key Points

• Rackspace director Anthony Scott sold 48,780 shares at an average price of $4.25, generating $207,315 and reducing his direct ownership by 21.3% to 180,215 shares.
• Rackspace shares fell 6.2% to $3.95, while the company reported a quarterly loss of $0.08 per share—better than estimates—and revenue of $670.1 million, above expectations.
• Analyst sentiment remains cautious, with an average “Reduce” rating and a $4.00 price target; institutional investors nevertheless own 82.48% of the stock.

Rackspace Technology, Inc. (NASDAQ:RXT - Get Free Report) Director Anthony Scott sold 48,780 shares of Rackspace Technology stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $4.25, for a total value of $207,315.00. Following the completion of the transaction, the director directly owned 180,215 shares in the company, valued at $765,913.75. This trade 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 accessible through this link.

Rackspace Technology Trading Down 6.2%

Shares of NASDAQ:RXT traded down $0.26 during trading on Monday, reaching $3.95. 7,240,306 shares of the company traded hands, compared to its average volume of 7,503,221. The business's fifty day moving average is $5.25 and its 200-day moving average is $3.28. Rackspace Technology, Inc. has a 52-week low of $0.39 and a 52-week high of $8.60. The firm has a market capitalization of $1.01 billion, a price-to-earnings ratio of -6.08 and a beta of 3.05.

Rackspace Technology (NASDAQ:RXT - Get Free Report) last announced its quarterly earnings results on Tuesday, August 11th. The company reported ($0.08) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.09) by $0.01. The firm had revenue of $670.10 million during the quarter, compared to the consensus estimate of $646.00 million. On average, sell-side analysts predict that Rackspace Technology, Inc. will post -0.28 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Rackspace Technology

A number of institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new position in Rackspace Technology during the 2nd quarter valued at about $51,411,000. Janus Henderson Group PLC grew its holdings in Rackspace Technology by 179.7% in the first quarter. Janus Henderson Group PLC now owns 2,937,670 shares of the company's stock worth $2,878,000 after purchasing an additional 1,887,317 shares during the period. Jupiter Topco LLC bought a new position in shares of Rackspace Technology during the second quarter valued at approximately $10,462,000. Ieq Capital LLC bought a new position in shares of Rackspace Technology during the second quarter valued at approximately $4,161,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in shares of Rackspace Technology during the second quarter valued at approximately $3,887,000. Institutional investors own 82.48% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on RXT shares. Royal Bank Of Canada lifted their price objective on Rackspace Technology from $2.50 to $4.00 and gave the stock a "sector perform" rating in a research report on Wednesday, June 17th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Rackspace Technology in a research note on Tuesday, June 2nd. Finally, Wall Street Zen cut shares of Rackspace Technology from a "hold" rating to a "sell" rating in a report on Saturday. One 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.com, Rackspace Technology has an average rating of "Reduce" and an average target price of $4.00.

More Rackspace Technology News

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

• Neutral Sentiment: Several law firms announced or promoted the same pending federal securities class action, with a September 28, 2026 deadline for investors to seek appointment as lead plaintiff. The notices target investors who purchased Rackspace securities between May 7 and July 8, 2026; the deadline itself does not establish that the allegations are valid. Rackspace Technology securities fraud class-action deadline
• Negative Sentiment: The lawsuits allege that Rackspace and certain executives made material misstatements or omissions concerning the company’s enterprise AI efforts. One notice linked the case to a reported stock decline of roughly 33%, raising concerns about potential litigation costs, management distraction, and reputational damage if the claims advance. Rackspace securities fraud class action after AI effort issues
• Negative Sentiment: The concentrated legal-news coverage adds uncertainty around Rackspace’s AI growth narrative and could keep volatility elevated. The announcements are largely investor-solicitation notices repeating the same allegations, rather than new company operating results or a court finding against Rackspace. Faruqi Rackspace class-action notice

About Rackspace Technology

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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