ExodusPoint Capital Management LP Has $440,000 Holdings in Rackspace Technology, Inc. (NASDAQ:RXT)

ExodusPoint Capital Management LP boosted its holdings in shares of Rackspace Technology, Inc. (NASDAQ:RXT) by 321.6% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 199,078 shares of the company’s stock after buying an additional 151,862 shares during the period. ExodusPoint Capital Management LP’s holdings in Rackspace Technology were worth $440,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the stock. Quantbot Technologies LP bought a new stake in shares of Rackspace Technology during the 4th quarter worth $57,000. FMR LLC lifted its position in Rackspace Technology by 437.5% during the 3rd quarter. FMR LLC now owns 31,154 shares of the company’s stock worth $76,000 after acquiring an additional 25,358 shares during the last quarter. Empower Advisory Group LLC bought a new stake in Rackspace Technology during the fourth quarter valued at about $85,000. SG Americas Securities LLC grew its position in shares of Rackspace Technology by 64.7% in the fourth quarter. SG Americas Securities LLC now owns 56,778 shares of the company’s stock valued at $125,000 after purchasing an additional 22,311 shares during the last quarter. Finally, Point72 Asset Management L.P. bought a new position in shares of Rackspace Technology in the third quarter worth about $135,000. 82.48% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, insider Srini Koushik sold 73,972 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 value of $138,327.64. Following the completion of the sale, the insider now owns 935,114 shares in the company, valued at approximately $1,748,663.18. This trade represents a 7.33 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Mark A. Marino sold 14,458 shares of the business’s stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $2.34, for a total value of $33,831.72. Following the transaction, the chief financial officer now owns 1,915,356 shares in the company, valued at $4,481,933.04. This represents a 0.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,168,662 shares of company stock worth $2,418,792 in the last ninety days. Insiders own 2.00% of the company’s stock.

Rackspace Technology Stock Performance

NASDAQ RXT opened at $1.37 on Friday. The stock has a 50-day simple moving average of $2.17 and a 200 day simple moving average of $2.38. Rackspace Technology, Inc. has a twelve month low of $1.30 and a twelve month high of $3.41. The stock has a market capitalization of $325.11 million, a PE ratio of -0.35 and a beta of 2.12.

Rackspace Technology (NASDAQ:RXT) last posted 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 the consensus estimate of $674.85 million.

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.