Invesco Ltd. Sells 104,039 Shares of Rackspace Technology, Inc. $RXT

Invesco Ltd. cut its stake in Rackspace Technology, Inc. (NASDAQ:RXT) by 17.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 506,222 shares of the company’s stock after selling 104,039 shares during the period. Invesco Ltd. owned 0.21% of Rackspace Technology worth $856,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Cerity Partners LLC acquired a new position in Rackspace Technology in the first quarter valued at approximately $26,000. Balyasny Asset Management L.P. bought a new position in shares of Rackspace Technology during the 4th quarter worth approximately $36,000. MetLife Investment Management LLC boosted its holdings in shares of Rackspace Technology by 89.4% during the 4th quarter. MetLife Investment Management LLC now owns 17,539 shares of the company’s stock worth $39,000 after buying an additional 8,281 shares in the last quarter. ProShare Advisors LLC boosted its holdings in shares of Rackspace Technology by 50.6% during the 4th quarter. ProShare Advisors LLC now owns 19,030 shares of the company’s stock worth $42,000 after buying an additional 6,398 shares in the last quarter. Finally, Aquatic Capital Management LLC bought a new position in shares of Rackspace Technology during the 4th quarter worth approximately $45,000. 82.48% of the stock is currently owned by institutional investors.

Rackspace Technology Trading Down 8.5%

Shares of NASDAQ:RXT opened at $1.30 on Thursday. The stock’s fifty day simple moving average is $1.30 and its two-hundred day simple moving average is $1.50. Rackspace Technology, Inc. has a 1-year low of $1.00 and a 1-year high of $3.41. The stock has a market cap of $311.17 million, a PE ratio of -0.80 and a beta of 2.06.

Rackspace Technology (NASDAQ:RXT) last issued its quarterly earnings data on Thursday, August 7th. The company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.01). The business had revenue of $666.30 million during the quarter, compared to analyst estimates of $658.86 million. During the same quarter in the previous year, the business posted ($0.08) EPS. The company’s quarterly revenue was down 2.7% on a year-over-year basis. Rackspace Technology has set its Q3 2025 guidance at -0.060–0.040 EPS.

Analyst Upgrades and Downgrades

RXT has been the topic of a number of research analyst reports. BMO Capital Markets cut their price target on Rackspace Technology from $1.75 to $1.40 and set a “market perform” rating on the stock in a report on Tuesday, August 12th. Raymond James Financial restated a “market perform” rating on shares of Rackspace Technology in a report on Monday, June 2nd. Wall Street Zen cut Rackspace Technology from a “hold” rating to a “sell” rating in a report on Saturday, August 9th. UBS Group cut their price target on Rackspace Technology from $2.95 to $1.90 and set a “neutral” rating on the stock in a report on Friday, May 9th. Finally, Royal Bank Of Canada cut their target price on Rackspace Technology from $3.00 to $2.00 and set a “sector perform” rating on the stock in a report on Monday, May 12th. Four research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and an average price target of $1.58.

Rackspace Technology Company Profile

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.