Insider Selling: Rackspace Hosting COO Sells 6,500 Shares of Stock (RAX)
Rackspace Hosting (NYSE:RAX) COO Mark Roenigk sold 6,500 shares of Rackspace Hosting stock in a transaction dated Tuesday, October 8th. The stock was sold at an average price of $48.02, for a total transaction of $312,130.00. Following the completion of the transaction, the chief operating officer now directly owns 47,440 shares in the company, valued at approximately $2,278,069. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Rackspace Hosting (NYSE:RAX) traded up 3.88% on Thursday, hitting $48.14. 3,817,041 shares of the company’s stock traded hands. Rackspace Hosting has a 1-year low of $33.91 and a 1-year high of $81.36. The stock has a 50-day moving average of $49.42 and a 200-day moving average of $44.59. The company has a market cap of $6.688 billion and a price-to-earnings ratio of 61.87.
Rackspace Hosting (NYSE:RAX) last issued its quarterly earnings data on Thursday, August 8th. The company reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.05. The company had revenue of $376.00 million for the quarter, compared to the consensus estimate of $372.27 million. During the same quarter in the previous year, the company posted $0.18 earnings per share. The company’s revenue for the quarter was up 17.9% on a year-over-year basis. Analysts expect that Rackspace Hosting will post $0.68 EPS for the current fiscal year.
A number of analysts have recently weighed in on RAX shares. Analysts at RBC Capital raised their price target on shares of Rackspace Hosting from $40.00 to $46.00 in a research note to investors on Monday, August 12th. They now have a “sector perform” rating on the stock. Separately, analysts at FBN Securities raised their price target on shares of Rackspace Hosting from $35.00 to $42.00 in a research note to investors on Friday, August 9th. They now have an “underperform” rating on the stock. Finally, analysts at Evercore Partners raised their price target on shares of Rackspace Hosting from $45.00 to $51.00 in a research note to investors on Friday, August 9th. They now have an “equal weight” rating on the stock. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and four have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $55.22.
Rackspace Hosting, Inc, is the open cloud company. The Company offers a diverse portfolio of cloud computing services, including public, dedicated and private cloud, and hybrid hosting.
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