Mark A. Marino Sells 20,217 Shares of Rackspace Technology, Inc. (NASDAQ:RXT) Stock

Rackspace Technology, Inc. (NASDAQ:RXT) CFO Mark A. Marino sold 20,217 shares of the business’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $1.87, for a total value of $37,805.79. Following the transaction, the chief financial officer now directly owns 1,917,446 shares of the company’s stock, valued at approximately $3,585,624.02. This represents a 1.04 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

Rackspace Technology Price Performance

Shares of Rackspace Technology stock opened at $1.87 on Friday. Rackspace Technology, Inc. has a 52-week low of $1.45 and a 52-week high of $3.41. The company has a 50 day moving average of $2.49 and a 200 day moving average of $2.48. The company has a market capitalization of $425.55 million, a P/E ratio of -0.48 and a beta of 2.05.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in RXT. Jacobs Levy Equity Management Inc. raised its position in shares of Rackspace Technology by 139.4% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 814,624 shares of the company’s stock worth $1,996,000 after acquiring an additional 474,299 shares in the last quarter. Raymond James Financial Inc. purchased a new position in Rackspace Technology in the fourth quarter valued at approximately $855,000. Two Sigma Investments LP raised its holdings in Rackspace Technology by 1,692.6% during the fourth quarter. Two Sigma Investments LP now owns 406,621 shares of the company’s stock worth $899,000 after purchasing an additional 383,938 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in shares of Rackspace Technology by 24.0% in the 4th quarter. Renaissance Technologies LLC now owns 1,929,127 shares of the company’s stock valued at $4,263,000 after buying an additional 373,627 shares in the last quarter. Finally, Prudential Financial Inc. purchased a new position in shares of Rackspace Technology in the 4th quarter valued at $715,000. 82.48% of the stock is owned by institutional investors and hedge funds.

About Rackspace Technology

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.