Dharmendra Kumar Sinha Sells 176,374 Shares of Rackspace Technology, Inc. (NASDAQ:RXT) Stock

Rackspace Technology, Inc. (NASDAQ:RXT) EVP Dharmendra Kumar Sinha sold 176,374 shares of the firm’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 $329,819.38. Following the completion of the transaction, the executive vice president now directly owns 2,117,455 shares in the company, valued at $3,959,640.85. This represents a 7.69 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link.

Dharmendra Kumar Sinha also recently made the following trade(s):

• On Monday, March 3rd, Dharmendra Kumar Sinha sold 17,480 shares of Rackspace Technology stock. The shares were sold at an average price of $2.37, for a total transaction of $41,427.60.

Rackspace Technology Price Performance

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

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

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Two Sigma Advisers LP lifted its stake in Rackspace Technology by 243.1% in the 4th quarter. Two Sigma Advisers LP now owns 264,200 shares of the company’s stock worth $584,000 after purchasing an additional 187,200 shares in the last quarter. Two Sigma Investments LP raised 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 valued at $899,000 after buying an additional 383,938 shares during the period. ProShare Advisors LLC raised its position in shares of Rackspace Technology by 50.6% during the 4th quarter. ProShare Advisors LLC now owns 19,030 shares of the company’s stock valued at $42,000 after buying an additional 6,398 shares during the period. Millennium Management LLC raised its position in shares of Rackspace Technology by 38.0% during the 4th quarter. Millennium Management LLC now owns 490,994 shares of the company’s stock valued at $1,085,000 after buying an additional 135,140 shares during the period. Finally, Jacobs Levy Equity Management Inc. raised its position in shares of Rackspace Technology by 8.2% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 881,148 shares of the company’s stock valued at $1,947,000 after buying an additional 66,524 shares during the period. 82.48% of the stock is owned by hedge funds and other institutional investors.

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.