Rackspace Hosting VP Unloads $4,935 in Stock (RAX)
Rackspace Hosting (NYSE:RAX) VP Tiffany Lathe unloaded 166 shares of the stock on the open market in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $29.73, for a total value of $4,935.18. Following the transaction, the vice president now directly owns 10,593 shares of the company’s stock, valued at approximately $314,930. The sale was disclosed in a document filed with the SEC, which is available at this link.
Shares of Rackspace Hosting (NYSE:RAX) traded up 0.19% on Friday, hitting $31.21. The stock had a trading volume of 3,201,484 shares. Rackspace Hosting has a one year low of $26.18 and a one year high of $54.20. The stock’s 50-day moving average is $31.84 and its 200-day moving average is $33.51. The company has a market cap of $4.463 billion and a P/E 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 quarterly revenue 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 research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Rackspace Hosting 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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