Sargent Investment Group LLC Has $662,000 Holdings in Rackspace Technology, Inc. (NASDAQ:RXT)

Sargent Investment Group LLC raised its position in Rackspace Technology, Inc. (NASDAQ:RXT) by 25.6% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 270,100 shares of the company’s stock after buying an additional 55,000 shares during the period. Sargent Investment Group LLC owned 0.12% of Rackspace Technology worth $662,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. GSA Capital Partners LLP purchased a new stake in shares of Rackspace Technology during the 3rd quarter valued at $412,000. US Bancorp DE boosted its stake in shares of Rackspace Technology by 10,766.2% during the 3rd quarter. US Bancorp DE now owns 16,408 shares of the company’s stock valued at $40,000 after purchasing an additional 16,257 shares in the last quarter. Creative Planning bought a new stake in shares of Rackspace Technology during the 3rd quarter valued at about $29,000. SG Americas Securities LLC raised its holdings in Rackspace Technology by 64.7% in the third quarter. SG Americas Securities LLC now owns 34,467 shares of the company’s stock worth $84,000 after buying an additional 13,543 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC raised its holdings in shares of Rackspace Technology by 143.7% during the second quarter. Susquehanna Fundamental Investments LLC now owns 53,506 shares of the company’s stock valued at $159,000 after purchasing an additional 31,550 shares during the last quarter. 82.48% of the stock is owned by institutional investors.

Insider Buying and Selling at Rackspace Technology

In other news, CEO Amar Maletira sold 82,552 shares of the business’s stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $2.37, for a total transaction of $195,648.24. Following the completion of the sale, the chief executive officer now owns 4,983,984 shares in the company, valued at approximately $11,812,042.08. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Over the last quarter, insiders sold 227,321 shares of company stock valued at $542,103. 2.00% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Separately, UBS Group upped their target price on shares of Rackspace Technology from $2.10 to $2.30 and gave the company a “neutral” rating in a report on Friday, August 16th. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $2.34.

Rackspace Technology Price Performance

NASDAQ:RXT traded down $0.10 during trading hours on Thursday, hitting $2.93. 597,054 shares of the company were exchanged, compared to its average volume of 1,102,236. The stock has a market capitalization of $662.27 million, a price-to-earnings ratio of -0.87 and a beta of 1.97. Rackspace Technology, Inc. has a 52-week low of $1.22 and a 52-week high of $3.41. The company’s 50 day moving average price is $2.54 and its 200-day moving average price is $2.38.

Rackspace Technology (NASDAQ:RXT) last released its earnings results on Tuesday, November 12th. The company reported ($0.04) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.04. The business had revenue of $675.80 million for the quarter, compared to analysts’ expectations of $675.14 million. During the same period in the previous year, the company earned ($0.04) EPS. Rackspace Technology’s quarterly revenue was down 7.7% compared to the same quarter last year. On average, equities analysts predict that Rackspace Technology, Inc. will post -0.32 earnings per share for the current year.

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.