Rackspace Hosting COO Mark Roenigk Sells 379 Shares (RAX)
Rackspace Hosting (NYSE:RAX) COO Mark Roenigk sold 379 shares of the company’s stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $31.29, for a total value of $11,858.91. Following the sale, the chief operating officer now directly owns 44,962 shares in the company, valued at approximately $1,406,861. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Rackspace Hosting (NYSE:RAX) traded down 0.64% on Friday, hitting $30.95. The stock had a trading volume of 632,725 shares. Rackspace Hosting has a 52 week low of $26.18 and a 52 week 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 $4.426 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.
RAX has been the subject of a number of recent research reports. 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 issued a buy rating to the company. The company 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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