386,965 Shares in Rackspace Technology, Inc. (NASDAQ:RXT) Acquired by Raymond James Financial Inc.

Raymond James Financial Inc. purchased a new stake in Rackspace Technology, Inc. (NASDAQ:RXT) in the 4th quarter, according to its most recent filing with the SEC. The fund purchased 386,965 shares of the company’s stock, valued at approximately $855,000.

A number of other large investors also recently made changes to their positions in the business. Jacobs Levy Equity Management Inc. grew its position in shares of Rackspace Technology by 139.4% in the third quarter. Jacobs Levy Equity Management Inc. now owns 814,624 shares of the company’s stock valued at $1,996,000 after purchasing an additional 474,299 shares during the period. Jane Street Group LLC grew its holdings in Rackspace Technology by 27.4% in the 3rd quarter. Jane Street Group LLC now owns 773,454 shares of the company’s stock valued at $1,895,000 after buying an additional 166,528 shares during the period. FMR LLC grew its holdings in Rackspace Technology by 437.5% in the 3rd quarter. FMR LLC now owns 31,154 shares of the company’s stock valued at $76,000 after buying an additional 25,358 shares during the period. Barclays PLC increased its stake in shares of Rackspace Technology by 86.1% during the 3rd quarter. Barclays PLC now owns 109,997 shares of the company’s stock valued at $270,000 after acquiring an additional 50,896 shares during the last quarter. Finally, Franklin Resources Inc. purchased a new position in shares of Rackspace Technology during the 3rd quarter worth about $443,000. Hedge funds and other institutional investors own 82.48% of the company’s stock.

Insider Transactions at Rackspace Technology

In other Rackspace Technology news, insider Srini Koushik sold 73,972 shares of the business’s stock in a transaction that occurred on 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 $1,748,663.18. The trade was a 7.33 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Dharmendra Kumar Sinha sold 176,374 shares of the firm’s stock in a transaction on 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 approximately $3,959,640.85. This represents a 7.69 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,168,662 shares of company stock worth $2,418,792 in the last three months. 2.00% of the stock is currently owned by company insiders.

Rackspace Technology Stock Performance

RXT opened at $1.45 on Friday. Rackspace Technology, Inc. has a 1 year low of $1.37 and a 1 year high of $3.41. The company’s 50 day simple moving average is $2.32 and its 200 day simple moving average is $2.43. The stock has a market capitalization of $342.91 million, a PE ratio of -0.37 and a beta of 2.12.

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 the consensus estimate of ($0.04) by $0.02. The company had revenue of $685.60 million for the quarter, compared to analysts’ expectations of $674.85 million.

About Rackspace Technology

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.