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 company’s stock in a transaction dated 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 sale, the insider now directly owns 935,114 shares in the company, valued at approximately $1,748,663.18. The trade was a 7.33 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, 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 Price Performance

Shares of NASDAQ RXT opened at $1.87 on Thursday. The company’s 50 day simple moving average is $2.50 and its 200 day simple moving average is $2.48. Rackspace Technology, Inc. has a fifty-two week low of $1.45 and a fifty-two week high of $3.41. The firm 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 announced its quarterly earnings data on Thursday, February 20th. The company reported ($0.02) earnings per share for the quarter, beating the consensus estimate of ($0.04) by $0.02. The business had revenue of $685.60 million during the quarter, compared to analyst estimates of $674.85 million.

Institutional Investors Weigh In On Rackspace Technology

Large investors have recently made changes to their positions in the stock. Balyasny Asset Management L.P. bought a new stake in shares of Rackspace Technology during the fourth quarter worth $36,000. MetLife Investment Management LLC increased its position in shares of Rackspace Technology by 89.4% during the fourth quarter. MetLife Investment Management LLC now owns 17,539 shares of the company’s stock worth $39,000 after acquiring an additional 8,281 shares in the last quarter. US Bancorp DE grew its position in Rackspace Technology by 10,766.2% in the third 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. ProShare Advisors LLC grew its position in Rackspace Technology by 50.6% in the fourth quarter. ProShare Advisors LLC now owns 19,030 shares of the company’s stock valued at $42,000 after purchasing an additional 6,398 shares in the last quarter. Finally, Aquatic Capital Management LLC bought a new position in Rackspace Technology in the fourth quarter valued at $45,000. Institutional investors own 82.48% of the company’s stock.

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.