Insider Selling: Mark Roenigk Unloads 163 Shares of Rackspace Hosting Stock (RAX)
Rackspace Hosting (NYSE:RAX) COO Mark Roenigk sold 163 shares of Rackspace Hosting stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $29.60, for a total value of $4,824.80. Following the completion of the transaction, the chief operating officer now directly owns 44,962 shares of the company’s stock, valued at approximately $1,330,875. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Several analysts have recently commented on the stock. 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 analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $40.58.
Shares of Rackspace Hosting (NYSE:RAX) traded up 1.36% on Wednesday, hitting $29.90. The stock had a trading volume of 2,484,634 shares. Rackspace Hosting has a one year low of $26.18 and a one year high of $54.20. The stock has a 50-day moving average of $32.15 and a 200-day moving average of $33.57. The company has a market cap of $4.248 billion and a P/E ratio of 49.17. Rackspace Hosting also was the recipient of some unusual options trading activity on Monday. Stock traders bought 11,336 call options on the stock. This is an increase of approximately 250% compared to the typical daily volume of 3,241 call options.
Rackspace Hosting (NYSE:RAX) last posted its quarterly earnings results on Monday, August 11th. The company reported $0.16 earnings per share for the quarter, meeting the analysts’ 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 last year, the company posted $0.18 earnings per share. Rackspace Hosting’s revenue was up 17.3% compared to the same quarter last year. On average, analysts predict that Rackspace Hosting will post $0.67 earnings per share for the current fiscal year.
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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