Rackspace Hosting CFO Karl Pichler Sells 181 Shares (RAX)
Rackspace Hosting (NYSE:RAX) CFO Karl Pichler sold 181 shares of Rackspace Hosting stock on the open market 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 $5,357.60. Following the transaction, the chief financial officer now directly owns 59,884 shares of the company’s stock, valued at approximately $1,772,566. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.
A number of research firms have recently commented on RAX. 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 investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company 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. 2,484,634 shares of the company’s stock traded hands. Rackspace Hosting has a 52-week low of $26.18 and a 52-week 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 price-to-earnings ratio of 49.17. Rackspace Hosting also saw unusually large options trading on Monday. Stock investors bought 11,336 call options on the company. 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. Analysts expect that Rackspace Hosting will post $0.67 EPS 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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