Kathmere Capital Management LLC Buys Shares of 118,000 Rackspace Technology, Inc. $RXT

Kathmere Capital Management LLC purchased a new stake in shares of Rackspace Technology, Inc. (NASDAQ:RXT) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 118,000 shares of the company’s stock, valued at approximately $116,000.

Other large investors have also modified their holdings of the company. AEGON USA Investment Management LLC bought a new position in Rackspace Technology in the 4th quarter worth about $194,000. Alliancebernstein L.P. raised its holdings in shares of Rackspace Technology by 4.0% during the third quarter. Alliancebernstein L.P. now owns 290,750 shares of the company’s stock valued at $410,000 after buying an additional 11,300 shares during the last quarter. AQR Capital Management LLC raised its holdings in shares of Rackspace Technology by 228.6% during the first quarter. AQR Capital Management LLC now owns 264,565 shares of the company’s stock valued at $447,000 after buying an additional 184,058 shares during the last quarter. Ameriprise Financial Inc. boosted its position in shares of Rackspace Technology by 9.4% during the second quarter. Ameriprise Financial Inc. now owns 387,182 shares of the company’s stock worth $496,000 after buying an additional 33,356 shares during the period. Finally, JPMorgan Chase & Co. boosted its position in shares of Rackspace Technology by 1.8% during the third quarter. JPMorgan Chase & Co. now owns 1,464,389 shares of the company’s stock worth $2,065,000 after buying an additional 26,510 shares during the period. Institutional investors and hedge funds own 82.48% of the company’s stock.

Rackspace Technology Price Performance

Rackspace Technology stock opened at $4.37 on Friday. Rackspace Technology, Inc. has a 12-month low of $0.39 and a 12-month high of $8.60. The stock has a market capitalization of $1.09 billion, a PE ratio of -7.16 and a beta of 2.99. The firm has a 50 day simple moving average of $5.34 and a 200-day simple moving average of $2.65.

Rackspace Technology (NASDAQ:RXT) last announced its earnings results on Thursday, May 7th. The company reported ($0.06) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.03). The company had revenue of $678.10 million during the quarter, compared to analysts’ expectations of $660.83 million. Rackspace Technology has set its FY 2026 guidance at -0.200–0.150 EPS.

More Rackspace Technology News

Here are the key news stories impacting Rackspace Technology this week:

• Positive Sentiment: Rackspace announced plans to accelerate its enterprise AI growth strategy and said Palantir has named it a preferred partner in regulated and sovereign markets, which could support longer-term growth. Article Title
• Positive Sentiment: The company also launched an operating framework with Palantir to deploy Foundry and AIP for regulated enterprises, reinforcing its push into enterprise AI production environments. Article Title
• Neutral Sentiment: Unusually heavy call option trading suggests some investors are speculating on a rebound, but the activity does not change the company’s fundamentals. Article Title
• Negative Sentiment: Rackspace cut its FY26 revenue outlook to about $2.5 billion-$2.6 billion, below Wall Street expectations, signaling softer growth than investors had been hoping for. Article Title
• Negative Sentiment: Second-quarter guidance also came in below estimates, and the company said it plans a stock offering, which can raise dilution concerns for shareholders. Article Title

Insider Activity

In other news, CFO Mark A. Marino sold 48,099 shares of the business’s stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $5.56, for a total value of $267,430.44. Following the sale, the chief financial officer owned 3,370,431 shares of the company’s stock, valued at approximately $18,739,596.36. The trade was a 1.41% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Company insiders own 2.30% of the company’s stock.

Analyst Ratings Changes

RXT has been the topic of several analyst reports. Royal Bank Of Canada raised their target price on Rackspace Technology from $2.50 to $4.00 and gave the company a “sector perform” rating in a research report on Wednesday, June 17th. Weiss Ratings reissued a “sell (d-)” rating on shares of Rackspace Technology in a report on Tuesday, June 2nd. Two equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Rackspace Technology presently has an average rating of “Reduce” and an average price target of $2.70.

Rackspace Technology Company Profile

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.