Rackspace Hosting CAO Unloads $10,764 in Stock (RAX)
Rackspace Hosting (NYSE:RAX) CAO Joseph Saporito sold 344 shares of Rackspace Hosting stock on the open market in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $31.29, for a total transaction of $10,763.76. Following the completion of the sale, the chief accounting officer now directly owns 18,014 shares in the company, valued at approximately $563,658. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Rackspace Hosting (NYSE:RAX) traded up 3.71% on Thursday, hitting $31.01. The stock had a trading volume of 4,141,022 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 $4.406 billion and a price-to-earnings ratio of 49.83. Rackspace Hosting also saw some unusual options trading on Monday. Investors acquired 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 issued its quarterly earnings data 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. 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 equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average 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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