Rackspace Hosting CFO Sells $5,358 in Stock (RAX)
Rackspace Hosting (NYSE:RAX) CFO Karl Pichler sold 181 shares of the company’s stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $29.60, for a total value of $5,357.60. Following the sale, the chief financial officer now directly owns 59,884 shares of the company’s stock, valued at approximately $1,772,566. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Rackspace Hosting (NYSE:RAX) traded down 0.61% during mid-day trading on Friday, hitting $30.96. The stock had a trading volume of 673,128 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 $31.99 and its 200-day moving average is $33.55. The company has a market cap of $4.428 billion and a price-to-earnings ratio of 51.92.
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 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.
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 analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target 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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