Nordea Investment Management AB boosted its position in shares of Rackspace Hosting Inc. (NYSE:RAX) by 18.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 146,103 shares of the hosting company’s stock after buying an additional 22,403 shares during the period. Nordea Investment Management AB’s holdings in Rackspace Hosting were worth $3,048,000 as of its most recent SEC filing.
Other large investors have also recently added to or reduced their stakes in the company. Advisory Services Network LLC increased its stake 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. LS Investment Advisors LLC increased its stake in Rackspace Hosting by 66.2% in the second quarter. LS Investment Advisors LLC now owns 6,426 shares of the hosting company’s stock worth $134,000 after buying an additional 2,559 shares during the last quarter. Creative Planning increased its stake in Rackspace Hosting by 24.4% in the second quarter. Creative Planning now owns 9,530 shares of the hosting company’s stock worth $199,000 after buying an additional 1,870 shares during the last quarter. Parametrica Management Ltd purchased a new stake in Rackspace Hosting during the second quarter worth $216,000. Finally, BlueMountain Capital Management LLC increased its stake in Rackspace Hosting by 86.1% in the first quarter. BlueMountain Capital Management LLC now owns 13,488 shares of the hosting company’s stock worth $291,000 after buying an additional 6,241 shares during the last quarter. Institutional investors and hedge funds own 83.62% of the company’s stock.
Rackspace Hosting Inc. (NYSE:RAX) traded up 0.13% during trading on Wednesday, hitting $31.83. 4,233,138 shares of the stock traded hands. Rackspace Hosting Inc. has a 12 month low of $15.05 and a 12 month high of $32.14. The firm has a market cap of $4.00 billion, a PE ratio of 28.02 and a beta of 1.67. The firm has a 50-day moving average price of $31.60 and a 200 day moving average price of $26.06.
Rackspace Hosting (NYSE:RAX) last posted its quarterly earnings data on Monday, August 8th. The hosting company reported $0.38 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.22 by $0.16. Rackspace Hosting had a net margin of 7.39% and a return on equity of 16.80%. The company had revenue of $489.40 million for the quarter, compared to analyst estimates of $521.07 million. During the same period in the prior year, the company posted $0.20 EPS. The firm’s revenue for the quarter was up 7.0% on a year-over-year basis. On average, equities analysts forecast that Rackspace Hosting Inc. will post $1.07 EPS for the current fiscal year.
A number of research firms have weighed in on RAX. Zacks Investment Research upgraded Rackspace Hosting from a “sell” rating to a “hold” rating in a research report on Saturday, August 6th. Royal Bank Of Canada raised their price target on Rackspace Hosting from $26.00 to $33.00 and gave the company an “outperform” rating in a research report on Wednesday, August 10th. Tigress Financial downgraded Rackspace Hosting from a “strong-buy” rating to a “neutral” rating in a research report on Monday, August 29th. Vetr upgraded Rackspace Hosting from a “hold” rating to a “buy” rating and set a $24.00 price target on the stock in a research report on Tuesday, August 2nd. Finally, SunTrust Banks Inc. assumed coverage on Rackspace Hosting in a research note on Thursday, July 21st. They set a “neutral” rating and a $25.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, eighteen have given a hold rating and five have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $29.03.
In related news, COO Mark Roenigk sold 5,000 shares of the stock in a transaction dated Monday, October 17th. The shares were sold at an average price of $31.78, for a total value of $158,900.00. Following the sale, the chief operating officer now directly owns 174,697 shares of the company’s stock, valued at approximately $5,551,870.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 15.50% of the stock is currently owned by corporate insiders.
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.
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