Rackspace Technology, Inc. (NASDAQ:RXT) Insider Srini Koushik Sells 73,972 Shares

Rackspace Technology, Inc. (NASDAQ:RXT) insider Srini Koushik sold 73,972 shares of the firm’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of $1.87, for a total transaction of $138,327.64. Following the completion of the transaction, the insider now directly owns 935,114 shares of the company’s stock, valued at approximately $1,748,663.18. This trade represents a 7.33 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Srini Koushik also recently made the following trade(s):

• On Monday, March 3rd, Srini Koushik sold 9,165 shares of Rackspace Technology stock. The shares were sold at an average price of $2.37, for a total transaction of $21,721.05.

Rackspace Technology Trading Up 1.1 %

Shares of Rackspace Technology stock opened at $1.87 on Thursday. The firm has a market capitalization of $425.55 million, a PE ratio of -0.48 and a beta of 2.05. The firm’s 50 day moving average is $2.50 and its 200 day moving average is $2.48. Rackspace Technology, Inc. has a 1 year low of $1.45 and a 1 year high of $3.41.

Rackspace Technology (NASDAQ:RXT) last announced its quarterly earnings results on Thursday, February 20th. The company reported ($0.02) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.04) by $0.02. The company had revenue of $685.60 million for the quarter, compared to the consensus estimate of $674.85 million.

Institutional Investors Weigh In On Rackspace Technology

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Balyasny Asset Management L.P. bought a new stake in Rackspace Technology during the 4th quarter worth approximately $36,000. MetLife Investment Management LLC increased its position in Rackspace Technology by 89.4% in the 4th quarter. MetLife Investment Management LLC now owns 17,539 shares of the company’s stock valued at $39,000 after acquiring an additional 8,281 shares during the period. US Bancorp DE increased its position in Rackspace Technology by 10,766.2% in the 3rd quarter. US Bancorp DE now owns 16,408 shares of the company’s stock valued at $40,000 after acquiring an additional 16,257 shares during the period. ProShare Advisors LLC increased its position in Rackspace Technology by 50.6% in the 4th quarter. ProShare Advisors LLC now owns 19,030 shares of the company’s stock valued at $42,000 after acquiring an additional 6,398 shares during the period. Finally, Aquatic Capital Management LLC acquired a new position in Rackspace Technology in the 4th quarter valued at approximately $45,000. 82.48% of the stock is owned by institutional investors.

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.