Rackspace Technology, Inc. (NASDAQ:RXT) CEO Amar Maletira Sells 521,840 Shares

Rackspace Technology, Inc. (NASDAQ:RXT) CEO Amar Maletira sold 521,840 shares of the firm’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $1.87, for a total value of $975,840.80. Following the transaction, the chief executive officer now owns 4,368,328 shares of the company’s stock, valued at approximately $8,168,773.36. This represents a 10.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Amar Maletira also recently made the following trade(s):

• On Monday, March 3rd, Amar Maletira sold 38,355 shares of Rackspace Technology stock. The shares were sold at an average price of $2.37, for a total value of $90,901.35.

Rackspace Technology Price Performance

Shares of NASDAQ:RXT opened at $1.87 on Friday. The firm has a market capitalization of $425.55 million, a PE ratio of -0.48 and a beta of 2.05. Rackspace Technology, Inc. has a 1 year low of $1.45 and a 1 year high of $3.41. The firm’s 50-day moving average is $2.49 and its two-hundred day moving average is $2.48.

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

Institutional Trading of Rackspace Technology

Several hedge funds have recently modified their holdings of RXT. Charles Schwab Investment Management Inc. grew its stake in Rackspace Technology by 0.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 595,860 shares of the company’s stock worth $1,317,000 after purchasing an additional 5,136 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of Rackspace Technology by 24.1% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 26,807 shares of the company’s stock worth $60,000 after buying an additional 5,214 shares in the last quarter. ProShare Advisors LLC increased its stake in shares of Rackspace Technology by 50.6% during the fourth quarter. ProShare Advisors LLC now owns 19,030 shares of the company’s stock worth $42,000 after buying an additional 6,398 shares during the period. MetLife Investment Management LLC raised its holdings in Rackspace Technology by 89.4% in the fourth 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 in the last quarter. Finally, Invesco Ltd. lifted its stake in Rackspace Technology by 1.6% in the fourth quarter. Invesco Ltd. now owns 610,261 shares of the company’s stock worth $1,349,000 after acquiring an additional 9,825 shares during the last quarter. 82.48% of the stock is currently owned by institutional investors and hedge funds.

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.