Rackspace Hosting CFO Karl Pichler Unloads 162 Shares (RAX)
Rackspace Hosting (NYSE:RAX) CFO Karl Pichler sold 162 shares of Rackspace Hosting stock on the open market in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $29.32, for a total transaction of $4,749.84. Following the sale, the chief financial officer now directly owns 59,884 shares in the company, valued at approximately $1,755,799. The sale was disclosed in a legal filing with the SEC, which is available at this link.
Shares of Rackspace Hosting (NYSE:RAX) traded up 1.36% during mid-day trading 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 was the recipient of some unusual options trading on Monday. Stock investors bought 11,336 call options on the company. This represents an increase of approximately 250% compared to the typical daily volume of 3,241 call options.
Rackspace Hosting (NYSE:RAX) last announced its earnings results on Monday, August 11th. The company reported $0.16 earnings per share (EPS) for the quarter, meeting the 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 previous year, the company posted $0.18 earnings per share. The company’s revenue for the quarter 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.
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 analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Rackspace Hosting has an average rating of “Hold” and a consensus target price 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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