Insider Selling: Rackspace Hosting CFO Sells 162 Shares of Stock (RAX)
Rackspace Hosting (NYSE:RAX) CFO Karl Pichler unloaded 162 shares of Rackspace Hosting stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $29.32, for a total value of $4,749.84. Following the transaction, the chief financial officer now directly owns 59,884 shares of the company’s stock, valued at approximately $1,755,799. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Shares of Rackspace Hosting (NYSE:RAX) traded down 0.58% during mid-day trading on Friday, hitting $30.97. The stock had a trading volume of 670,129 shares. 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 $31.99 and a 200-day moving average of $33.55. The company has a market cap of $4.429 billion and a P/E ratio of 51.92.
Rackspace Hosting (NYSE:RAX) last posted its quarterly 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. On average, analysts predict that Rackspace Hosting will post $0.67 earnings per share 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 analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock currently 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.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.