Quantbot Technologies LP Invests $57,000 in Rackspace Technology, Inc. (NASDAQ:RXT)

Quantbot Technologies LP bought a new stake in shares of Rackspace Technology, Inc. (NASDAQ:RXT) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 25,873 shares of the company’s stock, valued at approximately $57,000.

Several other large investors have also recently made changes to their positions in the company. Jacobs Levy Equity Management Inc. grew its holdings in Rackspace Technology by 139.4% in the third quarter. Jacobs Levy Equity Management Inc. now owns 814,624 shares of the company’s stock valued at $1,996,000 after purchasing an additional 474,299 shares during the period. Jane Street Group LLC lifted its position in shares of Rackspace Technology by 27.4% during the 3rd quarter. Jane Street Group LLC now owns 773,454 shares of the company’s stock valued at $1,895,000 after buying an additional 166,528 shares in the last quarter. FMR LLC grew its stake in Rackspace Technology by 437.5% in the 3rd quarter. FMR LLC now owns 31,154 shares of the company’s stock valued at $76,000 after acquiring an additional 25,358 shares during the period. Barclays PLC increased its holdings in Rackspace Technology by 86.1% in the 3rd quarter. Barclays PLC now owns 109,997 shares of the company’s stock worth $270,000 after acquiring an additional 50,896 shares in the last quarter. Finally, Franklin Resources Inc. acquired a new position in Rackspace Technology during the third quarter worth $443,000. 82.48% of the stock is currently owned by institutional investors and hedge funds.

Rackspace Technology Stock Down 1.2 %

RXT opened at $1.67 on Wednesday. The firm’s fifty day simple moving average is $2.38 and its two-hundred day simple moving average is $2.45. Rackspace Technology, Inc. has a 52-week low of $1.45 and a 52-week high of $3.41. The company has a market cap of $396.30 million, a price-to-earnings ratio of -0.43 and a beta of 2.05.

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

Insider Activity

In related news, EVP Dharmendra Kumar Sinha sold 17,480 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $2.37, for a total transaction of $41,427.60. Following the completion of the sale, the executive vice president now owns 2,293,829 shares of the company’s stock, valued at approximately $5,436,374.73. This represents a 0.76 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Mark A. Marino sold 202,230 shares of the stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $2.61, for a total transaction of $527,820.30. Following the completion of the sale, the chief financial officer now owns 1,713,126 shares of the company’s stock, valued at approximately $4,471,258.86. The trade was a 10.56 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,168,662 shares of company stock worth $2,418,792 over the last quarter. 2.00% of the stock is currently owned by corporate insiders.

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.