Rackspace Hosting VP Sells $15,143 in Stock (RAX)
Rackspace Hosting (NYSE:RAX) VP Tiffany Lathe sold 508 shares of Rackspace Hosting stock on the open market in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $29.81, for a total value of $15,143.48. Following the completion of the sale, the vice president now directly owns 10,759 shares in the company, valued at approximately $320,726. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
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 one year low of $26.18 and a one year 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 price-to-earnings ratio of 51.92.
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. 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 investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average 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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