Rackspace Hosting COO Unloads $11,859 in Stock (RAX)
Rackspace Hosting (NYSE:RAX) COO Mark Roenigk unloaded 379 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 value of $11,858.91. Following the completion of the sale, the chief operating officer now directly owns 44,962 shares of the company’s stock, valued at approximately $1,406,861. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.
Shares of Rackspace Hosting (NYSE:RAX) traded up 3.68% during mid-day trading on Thursday, hitting $31.0001. The stock had a trading volume of 4,142,822 shares. Rackspace Hosting has a 1-year low of $26.18 and a 1-year 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 target of unusually large options trading activity on Monday. Stock investors acquired 11,336 call options on the company. This represents an increase of 250% compared to the typical daily volume of 3,241 call options.
Rackspace Hosting (NYSE:RAX) last posted its quarterly 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.
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 research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company currently has an average 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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