Walleye Capital LLC Acquires Shares of 239,873 Rackspace Technology, Inc. (NASDAQ:RXT)

Walleye Capital LLC acquired a new stake in Rackspace Technology, Inc. (NASDAQ:RXT - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 239,873 shares of the company's stock, valued at approximately $530,000. Walleye Capital LLC owned 0.11% of Rackspace Technology at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the business. FMR LLC increased its stake in shares of Rackspace Technology by 437.5% in the third quarter. FMR LLC now owns 31,154 shares of the company's stock valued at $76,000 after buying an additional 25,358 shares during the period. Jane Street Group LLC raised its holdings in 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 last quarter. Barclays PLC lifted its position in shares of Rackspace Technology by 86.1% in 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. Franklin Resources Inc. acquired a new position in shares of Rackspace Technology in the 3rd quarter worth approximately $443,000. Finally, SG Americas Securities LLC boosted its stake in shares of Rackspace Technology by 64.7% in the 4th quarter. SG Americas Securities LLC now owns 56,778 shares of the company's stock valued at $125,000 after purchasing an additional 22,311 shares during the last quarter. Institutional investors own 82.48% of the company's stock.

Insider Buying and Selling at Rackspace Technology

In related news, EVP Dharmendra Kumar Sinha sold 17,480 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $2.37, for a total value of $41,427.60. Following the completion of the sale, the executive vice president now directly owns 2,293,829 shares of the company's stock, valued at approximately $5,436,374.73. This represents a 0.76 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Mark A. Marino sold 202,230 shares of Rackspace Technology stock in a transaction on Monday, February 24th. The stock was sold at an average price of $2.61, for a total transaction of $527,820.30. Following the transaction, the chief financial officer now directly owns 1,713,126 shares in the company, valued at $4,471,258.86. This represents a 10.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,154,204 shares of company stock valued at $2,384,960. Company insiders own 2.00% of the company's stock.

Rackspace Technology Trading Down 1.4 %

RXT stock traded down $0.02 during mid-day trading on Monday, reaching $1.36. The company's stock had a trading volume of 644,874 shares, compared to its average volume of 936,086. Rackspace Technology, Inc. has a 12 month low of $1.24 and a 12 month high of $3.41. The business's 50 day moving average price is $1.82 and its 200 day moving average price is $2.29. The company has a market cap of $322.74 million, a price-to-earnings ratio of -0.35 and a beta of 2.12.

Rackspace Technology (NASDAQ:RXT - Get Free Report) last released its earnings results on Thursday, February 20th. The company reported ($0.02) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.04) by $0.02. The company had revenue of $685.60 million for the quarter, compared to analyst estimates of $674.85 million.

Analyst Upgrades and Downgrades

Separately, Barclays dropped their target price on shares of Rackspace Technology from $2.00 to $1.00 and set an "underweight" rating on the stock in a report on Friday.

Rackspace Technology Company 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.