Insider Selling: Mark Roenigk Sells 163 Shares of Rackspace Hosting Stock (RAX)
Rackspace Hosting (NYSE:RAX) COO Mark Roenigk unloaded 163 shares of the stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $29.60, for a total transaction of $4,824.80. Following the transaction, the chief operating officer now directly owns 44,962 shares in the company, valued at approximately $1,330,875. The sale was disclosed in a document filed with the SEC, which is available at 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’s stock. Rackspace Hosting presently has a consensus rating of “Hold” and a consensus price target of $40.58.
Rackspace Hosting (NYSE:RAX) traded up 3.68% during mid-day trading on Thursday, hitting $31.0001. 4,142,822 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’s 50-day moving average is $32.15 and its 200-day moving average is $33.57. The company has a market cap of $4.404 billion and a price-to-earnings ratio of 49.83. Rackspace Hosting also was the recipient of unusually large options trading on Monday. Stock investors acquired 11,336 call options on the stock. This represents an increase of 250% compared to the average volume of 3,241 call options.
Rackspace Hosting (NYSE:RAX) last announced its earnings results 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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