Strs Ohio Invests $323,000 in Rackspace Technology, Inc. $RXT

Key Points

• Strs Ohio invested approximately $323,000 in Rackspace Technology, acquiring 191,300 shares during the first quarter.
• Institutional investors hold a substantial 82.48% of Rackspace Technology's stock, with various hedge funds increasing their stakes recently.
• Wall Street analysts have mixed opinions on Rackspace Technology, with a consensus rating of "Reduce" and a target price of $1.58.

Strs Ohio purchased a new stake in Rackspace Technology, Inc. (NASDAQ:RXT - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 191,300 shares of the company's stock, valued at approximately $323,000. Strs Ohio owned approximately 0.08% of Rackspace Technology as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of RXT. Cerity Partners LLC bought a new stake in Rackspace Technology in the 1st quarter valued at about $26,000. Jump Financial LLC acquired a new stake in shares of Rackspace Technology in the first quarter valued at approximately $40,000. ProShare Advisors LLC boosted its stake in shares of Rackspace Technology by 50.6% in the fourth quarter. ProShare Advisors LLC now owns 19,030 shares of the company's stock valued at $42,000 after buying an additional 6,398 shares during the period. XTX Topco Ltd boosted its stake in shares of Rackspace Technology by 234.1% in the first quarter. XTX Topco Ltd now owns 35,439 shares of the company's stock valued at $60,000 after buying an additional 24,833 shares during the period. Finally, Virtu Financial LLC acquired a new stake in Rackspace Technology during the first quarter worth approximately $68,000. Institutional investors and hedge funds own 82.48% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on RXT shares. Raymond James Financial reaffirmed a "market perform" rating on shares of Rackspace Technology in a report on Monday, June 2nd. BMO Capital Markets dropped their price target on Rackspace Technology from $1.75 to $1.40 and set a "market perform" rating for the company in a research note on Tuesday, August 12th. Finally, Wall Street Zen raised shares of Rackspace Technology from a "sell" rating to a "hold" rating in a research report on Saturday. Four equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of "Reduce" and an average target price of $1.58.

Rackspace Technology Trading Up 1.4%

RXT opened at $1.46 on Wednesday. The company has a market cap of $349.47 million, a P/E ratio of -0.90 and a beta of 2.06. The company's 50 day moving average is $1.32 and its 200-day moving average is $1.38. Rackspace Technology, Inc. has a 1-year low of $1.00 and a 1-year high of $3.41.

Rackspace Technology (NASDAQ:RXT - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The company reported ($0.06) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.01). The company had revenue of $666.30 million for the quarter, compared to analyst estimates of $658.86 million. During the same period last year, the firm posted ($0.08) earnings per share. Rackspace Technology's revenue was down 2.7% compared to the same quarter last year. Rackspace Technology has set its Q3 2025 guidance at -0.060--0.040 EPS.

Insiders Place Their Bets

In other news, Director Anthony Scott sold 40,000 shares of the business's stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $1.43, for a total transaction of $57,200.00. Following the sale, the director directly owned 191,045 shares in the company, valued at approximately $273,194.35. The trade was a 17.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Amar Maletira sold 1,780,619 shares of the firm's stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $1.35, for a total transaction of $2,403,835.65. Following the completion of the transaction, the chief executive officer owned 4,608,619 shares of the company's stock, valued at approximately $6,221,635.65. This trade represents a 27.87% decrease in their position. The disclosure for this sale can be found here. Insiders own 2.90% of the company's stock.

Rackspace Technology 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.

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