Insider Selling: Karl Pichler Sells 488 Shares of Rackspace Hosting Stock (RAX)
Rackspace Hosting (NYSE:RAX) CFO Karl Pichler sold 488 shares of the company’s stock on the open market in a transaction dated Monday, August 11th. The shares were sold at an average price of $31.29, for a total transaction of $15,269.52. Following the sale, the chief financial officer now directly owns 59,884 shares in the company, valued at approximately $1,873,770. The sale was disclosed in a filing with the SEC, which can be accessed through this link.
Shares of Rackspace Hosting (NYSE:RAX) traded up 1.36% on Wednesday, hitting $29.90. 2,484,634 shares of the company’s stock traded hands. Rackspace Hosting has a 1-year low of $26.18 and a 1-year high of $54.20. The stock’s 50-day moving average is $32.15 and its 200-day moving average is $33.57. The company has a market cap of $4.248 billion and a price-to-earnings ratio of 49.17. Rackspace Hosting also was the target of some unusual options trading activity on Monday. Stock traders acquired 11,336 call options on the stock. This represents an increase of approximately 250% compared to the average volume of 3,241 call options.
Rackspace Hosting (NYSE:RAX) last issued its quarterly earnings data on Monday, August 11th. The company reported $0.16 EPS for the quarter, meeting the Thomson Reuters consensus estimate of $0.16. The company had revenue of $441.10 million for the quarter, compared to the consensus estimate of $437.00 million. During the same quarter in the prior year, the company posted $0.18 earnings per share. The company’s quarterly revenue was up 17.3% on a year-over-year basis. On average, analysts predict that Rackspace Hosting will post $0.67 earnings per share for the current fiscal year.
A number of analysts have recently weighed in on RAX shares. Analysts at Canaccord Genuity reiterated a “hold” rating on shares of Rackspace Hosting in a research note on Tuesday. They now have a $35.00 price target on the stock. Separately, analysts at JPMorgan Chase & Co. raised their price target on shares of Rackspace Hosting from $35.00 to $37.00 in a research note on Tuesday. Finally, analysts at Piper Jaffray cut their price target on shares of Rackspace Hosting from $45.00 to $43.00 in a research note on Tuesday. Eight research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $40.58.
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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