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 dated Monday, March 17th. The stock was sold at an average price of $1.87, for a total value 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

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 Stock Performance

RXT traded up $0.02 during midday trading on Wednesday, reaching $1.87. 3,815,720 shares of the company were exchanged, compared to its average volume of 944,922. Rackspace Technology, Inc. has a one year low of $1.45 and a one year high of $3.41. The stock has a market capitalization of $425.55 million, a P/E ratio of -0.48 and a beta of 2.05. The stock’s 50-day simple moving average is $2.50 and its 200 day simple moving average is $2.48.

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

Hedge Funds Weigh In On Rackspace Technology

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Balyasny Asset Management L.P. bought a new position in shares of Rackspace Technology during the 4th quarter valued at about $36,000. MetLife Investment Management LLC lifted its holdings in shares of Rackspace Technology by 89.4% during the 4th 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. US Bancorp DE lifted its holdings in shares of Rackspace Technology by 10,766.2% during the 3rd quarter. US Bancorp DE now owns 16,408 shares of the company’s stock valued at $40,000 after purchasing an additional 16,257 shares in the last quarter. ProShare Advisors LLC lifted its holdings 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 purchasing an additional 6,398 shares in the last quarter. Finally, Aquatic Capital Management LLC bought a new position in shares of Rackspace Technology during the 4th quarter valued at about $45,000. 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.