Insider Selling: Rackspace Hosting CFO Unloads 181 Shares of Stock (RAX)
Rackspace Hosting (NYSE:RAX) CFO Karl Pichler sold 181 shares of the company’s stock on the open market in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $29.60, for a total transaction of $5,357.60. Following the completion of the sale, 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 issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $40.58.
Shares of Rackspace Hosting (NYSE:RAX) traded up 3.78% on Thursday, hitting $31.03. 4,146,577 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 $4.409 billion and a price-to-earnings ratio of 49.83. Rackspace Hosting also was the recipient of unusually large options trading on Monday. Stock traders bought 11,336 call options on the stock. This is an increase of 250% compared to the average daily 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.
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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