The Vanguard Group, Inc. has recently announced that it has increased stake in Rackspace Technology Inc (NASDAQ:RXT) by 1.24%. After grabbing 5.47 million shares, the institutional investor is now in possession of 67082.0 shares of the Technology Company. The new investment brought the stake of investor firm to 2.53% having worth around $10.94 million. Moreover, Charles Schwab Investment Managem increased its share by 0.45 million to have a control over 1.87 million shares. And Millennium Management LLC raised its holdings to 1.46 million shares by acquiring 1.73 million shares or 0.80% of the stake.
Rackspace Technology Inc (RXT) concluded trading on Thursday at a closing price of $1.71, with 2.72 million shares of worth about $4.64 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -29.05% during that period and on Thursday, January 25 the price saw a loss of about -10.94%. Currently the company’s common shares owned by public are about 212.60M shares, out of which, 46.46M shares are available for trading.
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According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 38 times over the past 12 months. They bought 6,502,817 shares in 21 of the transactions. In 17 selling transactions, insiders dumped 660,429 shares.
Legal & General UCITS ETF PLC – C, Mackenzie US Small-Mid Cap Growth, and Mackenzie US Mid Cap Growth Class are the top 3 mutual funds which are holding stakes in Rackspace Technology Inc Legal & General UCITS ETF PLC – C is currently holding 6.31 million shares of worth totaling $12.62 million. The company recently came selling 18136.0 shares which brought its stake up to 2.92% of the company’s outstanding shares. Mackenzie US Mid Cap Growth Class, after buying 3.84 million shares, have now control over 1.77% of the stake in the company. It holds 0.83 million shares of worth $7.67 million.
Stock saw a price change of 5.56% in past 5 days and over the past one month there was a price change of -3.93%. Year-to-date (YTD), RXT shares are showing a performance of -14.50% which decreased to -41.44% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $1.05 but also hit the highest price of $3.57 during that period. The average intraday trading volume for Rackspace Technology Inc shares is 1.14 million. The stock is currently trading -5.84% below its 20-day simple moving average (SMA20), while that difference is up 4.42% for SMA50 and it goes to -5.51% lower than SMA200.
The Vanguard Group, Inc. acquired 5.47 million shares of Rackspace Technology Inc having value of about $10.94 million. Data submitted at the U.S SEC by The Vanguard Group, Inc. revealed that the firm now holds 67082.0 shares in the company valued at close to $114710.22, or have control over 1.24% stake in the company. Rackspace Technology Inc (NASDAQ: RXT) currently have 212.60M outstanding shares and institutions hold larger chunk of about 21.47% of that. Holding of mutual funds in the company is about 19.30% while other institutional holders and individual stake holders have control over 6.94% and 14.59% of the stake respectively.
The stock has a current market capitalization of $370.06M and its 3Y-monthly beta is at 1.92. It has posted earnings per share of -$5.06 in the same period. It has Quick Ratio of 1.02. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for RXT, volatility over the week remained 8.72% while standing at 9.12% over the month.
Analysts are in expectations that Rackspace Technology Inc (RXT) stock would likely to be making an EPS of -$0.04 in the current quarter, while forecast for next quarter EPS is -$0.04 and it is -$0.06 for next year. For the current quarter EPS, analysts have given the company a lowest target -$0.04 which is -$0.03 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $0.06 in the same quarter a year ago. Stock’s fiscal year EPS is expected to drop by -129.27% while it is estimated to increase by 61.09% in next year.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by UBS on November 07, 2023 offering a Neutral rating for the stock and assigned a target price of $1.40 to it.
