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 Rackspace Technology 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 in the company, valued at approximately $8,168,773.36. This represents a 10.67 % decrease in their position. 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 stock was sold at an average price of $2.37, for a total value of $90,901.35.

Rackspace Technology Price Performance

Shares of RXT stock opened at $1.87 on Thursday. Rackspace Technology, Inc. has a 1-year low of $1.45 and a 1-year high of $3.41. The firm has a market cap of $425.55 million, a PE ratio of -0.48 and a beta of 2.05. The company has a 50-day moving average of $2.50 and a two-hundred day moving average of $2.48.

Rackspace Technology (NASDAQ:RXT) last posted its earnings results 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 company had revenue of $685.60 million during the quarter, compared to analyst estimates of $674.85 million.

Hedge Funds Weigh In On Rackspace Technology

Several hedge funds and other institutional investors have recently added to or reduced their stakes in RXT. Charles Schwab Investment Management Inc. boosted its holdings in Rackspace Technology by 0.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 595,860 shares of the company’s stock valued at $1,317,000 after purchasing an additional 5,136 shares during the period. Price T Rowe Associates Inc. MD raised its position in shares of Rackspace Technology by 24.1% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 26,807 shares of the company’s stock worth $60,000 after acquiring an additional 5,214 shares in the last quarter. ProShare Advisors LLC lifted its stake in 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 purchasing an additional 6,398 shares during the last quarter. MetLife Investment Management LLC boosted 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 purchasing an additional 8,281 shares in the last quarter. Finally, Invesco Ltd. increased its stake in Rackspace Technology by 1.6% in the fourth quarter. Invesco Ltd. now owns 610,261 shares of the company’s stock valued at $1,349,000 after purchasing an additional 9,825 shares during the last quarter. 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.