Arrowstreet Capital Limited Partnership Makes New $158,000 Investment in Rackspace Technology, Inc. (NASDAQ:RXT)

Arrowstreet Capital Limited Partnership bought a new stake in Rackspace Technology, Inc. (NASDAQ:RXT) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 71,487 shares of the company’s stock, valued at approximately $158,000.

Several other institutional investors also recently modified their holdings of the business. Quantbot Technologies LP purchased a new position in Rackspace Technology in the fourth quarter worth $57,000. FMR LLC boosted its holdings in shares of Rackspace Technology by 437.5% in the 3rd quarter. FMR LLC now owns 31,154 shares of the company’s stock worth $76,000 after buying an additional 25,358 shares during the last quarter. Empower Advisory Group LLC bought a new position in Rackspace Technology during the fourth quarter valued at about $85,000. SG Americas Securities LLC increased its holdings in Rackspace Technology by 64.7% during the fourth quarter. SG Americas Securities LLC now owns 56,778 shares of the company’s stock worth $125,000 after buying an additional 22,311 shares during the last quarter. Finally, Barclays PLC raised its position in Rackspace Technology by 86.1% in the third quarter. Barclays PLC now owns 109,997 shares of the company’s stock worth $270,000 after acquiring an additional 50,896 shares during the period. 82.48% of the stock is owned by institutional investors.

Rackspace Technology Stock Up 2.2 %

Rackspace Technology stock opened at $1.37 on Monday. The firm has a 50 day moving average price of $2.17 and a 200-day moving average price of $2.38. Rackspace Technology, Inc. has a twelve month low of $1.30 and a twelve month high of $3.41. The company has a market capitalization of $325.11 million, a P/E ratio of -0.35 and a beta of 2.12.

Rackspace Technology (NASDAQ:RXT) last released its earnings results on Thursday, February 20th. The company reported ($0.02) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.02. The firm had revenue of $685.60 million during the quarter, compared to analysts’ expectations of $674.85 million.

Insider Activity at Rackspace Technology

In related news, CEO Amar Maletira sold 521,840 shares of the stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $1.87, for a total transaction of $975,840.80. Following the sale, the chief executive officer now owns 4,368,328 shares of the company’s stock, valued at approximately $8,168,773.36. This represents a 10.67 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Mark A. Marino sold 14,458 shares of Rackspace Technology stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $2.34, for a total value of $33,831.72. Following the transaction, the chief financial officer now directly owns 1,915,356 shares of the company’s stock, valued at $4,481,933.04. The trade was a 0.75 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,168,662 shares of company stock worth $2,418,792. Company insiders own 2.00% of the company’s stock.

About Rackspace Technology

Rackspace Technology, Inc operates as a multi cloud technology services company in the Americas, Europe, the Middle East, Africa, and The Asia-Pacific region. It operates through three segments: Multicloud Services, Apps & Cross Platform, and OpenStack Public Cloud. The company provides public and private cloud managed services, which allow customers to determine, manage, and optimize the right infrastructure, platforms, and services; professional services related to designing and building multi cloud solutions and cloud-native applications; and managed hosting and colocation services.