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

Rackspace Technology, Inc. (NASDAQ:RXT) CEO Amar Maletira sold 521,840 shares of the stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $1.87, for a total transaction of $975,840.80. Following the completion of the sale, the chief executive officer now owns 4,368,328 shares of the company’s stock, valued at approximately $8,168,773.36. The trade was a 10.67 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through 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. Rackspace Technology, Inc. has a 52-week low of $1.45 and a 52-week high of $3.41. The stock has a market cap of $425.55 million, a P/E ratio of -0.48 and a beta of 2.05. The business has a fifty day moving average of $2.49 and a two-hundred day moving average of $2.48.

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

Institutional Trading of Rackspace Technology

Institutional investors have recently made changes to their positions in the company. Jacobs Levy Equity Management Inc. grew its position in Rackspace Technology by 139.4% in the third 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 during the period. Raymond James Financial Inc. purchased a new position in shares of Rackspace Technology during the 4th quarter worth $855,000. Two Sigma Investments LP increased its position in shares of Rackspace Technology by 1,692.6% during the 4th 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 during the last quarter. Renaissance Technologies LLC raised its holdings in 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 during the period. Finally, Prudential Financial Inc. acquired a new position in Rackspace Technology in the fourth quarter valued at about $715,000. Hedge funds and other 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.