Insider Selling: Rackspace Hosting Inc. (RAX) COO Sells 5,000 Shares of Stock
Rackspace Hosting Inc. (NYSE:RAX) COO Mark Roenigk sold 5,000 shares of the stock in a transaction on Monday, October 17th. The shares were sold at an average price of $31.78, for a total value of $158,900.00. Following the completion of the transaction, the chief operating officer now directly owns 174,697 shares in the company, valued at approximately $5,551,870.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.
Shares of Rackspace Hosting Inc. (NYSE:RAX) traded down 0.03% on Tuesday, hitting $31.79. 4,422,954 shares of the stock were exchanged. The company has a market cap of $4.00 billion, a P/E ratio of 27.98 and a beta of 1.66. The firm’s 50-day moving average is $31.59 and its 200-day moving average is $25.98. Rackspace Hosting Inc. has a one year low of $15.05 and a one year high of $32.14.
Rackspace Hosting (NYSE:RAX) last posted its earnings results on Monday, August 8th. The hosting company reported $0.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.16. The firm earned $489.40 million during the quarter, compared to analyst estimates of $521.07 million. Rackspace Hosting had a net margin of 7.39% and a return on equity of 16.80%. Rackspace Hosting’s revenue was up 7.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.20 EPS. On average, equities analysts forecast that Rackspace Hosting Inc. will post $1.07 EPS for the current fiscal year.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/10/18/insider-selling-rackspace-hosting-inc-rax-coo-sells-5000-shares-of-stock.html
Several equities analysts recently commented on the company. Vetr raised Rackspace Hosting from a “buy” rating to a “strong-buy” rating and set a $24.00 target price on the stock in a report on Monday, June 27th. FBN Securities upped their price objective on shares of Rackspace Hosting from $21.00 to $26.00 and gave the company a “sector perform” rating in a research note on Tuesday, August 9th. RBC Capital Markets restated an “outperform” rating and issued a $33.00 price objective (up previously from $26.00) on shares of Rackspace Hosting in a research note on Thursday, August 11th. Zacks Investment Research downgraded shares of Rackspace Hosting from a “hold” rating to a “sell” rating in a research note on Thursday, July 14th. Finally, SunTrust Banks Inc. started coverage on shares of Rackspace Hosting in a research note on Thursday, July 21st. They issued a “neutral” rating and a $25.00 price objective for the company. Two analysts have rated the stock with a sell rating, eighteen have given a hold rating and five have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $29.03.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Shelton Capital Management raised its position in Rackspace Hosting by 1.6% in the second quarter. Shelton Capital Management now owns 12,402 shares of the hosting company’s stock worth $259,000 after buying an additional 200 shares during the last quarter. Globeflex Capital L P raised its position in Rackspace Hosting by 0.8% in the second quarter. Globeflex Capital L P now owns 45,664 shares of the hosting company’s stock worth $953,000 after buying an additional 341 shares during the last quarter. Advisory Services Network LLC raised its position in Rackspace Hosting by 10.3% in the second quarter. Advisory Services Network LLC now owns 5,361 shares of the hosting company’s stock worth $112,000 after buying an additional 500 shares during the last quarter. CIBC Asset Management Inc raised its position in Rackspace Hosting by 8.3% in the second quarter. CIBC Asset Management Inc now owns 10,797 shares of the hosting company’s stock worth $225,000 after buying an additional 823 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund raised its position in Rackspace Hosting by 2.3% in the second quarter. Oregon Public Employees Retirement Fund now owns 39,508 shares of the hosting company’s stock worth $824,000 after buying an additional 903 shares during the last quarter. 83.62% of the stock is owned by hedge funds and other institutional investors.
Rackspace Hosting Company Profile
Rackspace Hosting, Inc (Rackspace) operates in the managed cloud segment of the business information technology (IT) market. The Company offers a portfolio of integrated IT solutions for common business needs. The Company offers services for certain applications, including e-commerce and Web content management sites, business-productivity applications, such as e-mail and collaboration, and data stores.
Receive News & Ratings for Rackspace Hosting Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rackspace Hosting Inc. and related companies with MarketBeat.com's FREE daily email newsletter.