AustralianSuper Pty Ltd Takes $2.28 Million Position in Rackspace Technology, Inc. $RXT

AustralianSuper Pty Ltd purchased a new position in shares of Rackspace Technology, Inc. (NASDAQ:RXT) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 1,614,437 shares of the company’s stock, valued at approximately $2,276,000. AustralianSuper Pty Ltd owned about 0.67% of Rackspace Technology as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Quadrature Capital Ltd purchased a new position in shares of Rackspace Technology in the second quarter worth about $26,000. Creative Planning lifted its stake in Rackspace Technology by 114.2% in the 2nd quarter. Creative Planning now owns 25,715 shares of the company’s stock worth $33,000 after purchasing an additional 13,708 shares in the last quarter. Engineers Gate Manager LP boosted its holdings in shares of Rackspace Technology by 47.1% during the 2nd quarter. Engineers Gate Manager LP now owns 34,777 shares of the company’s stock worth $45,000 after purchasing an additional 11,141 shares during the last quarter. Intech Investment Management LLC grew its position in shares of Rackspace Technology by 45.4% in the second quarter. Intech Investment Management LLC now owns 51,692 shares of the company’s stock valued at $66,000 after purchasing an additional 16,152 shares in the last quarter. Finally, XTX Topco Ltd increased its holdings in shares of Rackspace Technology by 62.8% in the second quarter. XTX Topco Ltd now owns 57,682 shares of the company’s stock valued at $74,000 after purchasing an additional 22,243 shares during the last quarter. 82.48% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have issued reports on RXT shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Rackspace Technology in a research note on Thursday, January 22nd. Royal Bank Of Canada cut their price objective on shares of Rackspace Technology from $2.00 to $1.75 and set a “sector perform” rating for the company in a research report on Monday, November 10th. Four investment analysts have rated the stock with a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, Rackspace Technology has an average rating of “Reduce” and a consensus price target of $1.51.

Insider Buying and Selling

In other news, EVP Dharmendra Kumar Sinha sold 91,151 shares of the company’s stock in a transaction on Friday, November 28th. The shares were sold at an average price of $1.04, for a total value of $94,797.04. Following the completion of the transaction, the executive vice president owned 2,568,895 shares in the company, valued at approximately $2,671,650.80. This represents a 3.43% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 2.90% of the stock is owned by corporate insiders.

Rackspace Technology Stock Performance

Shares of RXT stock opened at $0.61 on Friday. Rackspace Technology, Inc. has a fifty-two week low of $0.61 and a fifty-two week high of $3.03. The company has a 50 day moving average price of $0.98 and a 200 day moving average price of $1.23. The stock has a market capitalization of $148.98 million, a P/E ratio of -0.57 and a beta of 2.13.

Rackspace Technology (NASDAQ:RXT) last announced its quarterly earnings data on Thursday, November 6th. The company reported ($0.05) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.05). The company had revenue of $671.20 million during the quarter, compared to analyst estimates of $666.83 million. During the same quarter in the previous year, the business posted ($0.04) earnings per share. The firm’s revenue was down .7% on a year-over-year basis. Rackspace Technology has set its Q4 2025 guidance at -0.050–0.030 EPS.

About Rackspace Technology

Rackspace Technology (NASDAQ: RXT) is a leading provider of managed multi-cloud solutions and services, specializing in the deployment, management and optimization of public and private cloud environments. The company helps organizations design and operate applications across platforms such as Amazon Web Services (AWS), Microsoft Azure, Google Cloud and its own private cloud infrastructure. Rackspace’s core offerings include cloud migration, application modernization, data protection, security services and 24x7x365 operational support.

Beyond cloud hosting, Rackspace offers a range of professional services designed to accelerate digital transformation initiatives.