196 institutions hold shares in Rackspace Technology Inc. (RXT), with 2.9M shares held by insiders accounting for 1.41% while institutional investors hold 104.67% of the company’s shares. The shares outstanding are 200.60M, and float is at 47.46M with Short Float at 17.17%. Institutions hold 103.20% of the Float.
The top institutional shareholder in the company is Apollo Management Holdings, L.P. with over 129.61 million shares valued at $2.47 billion. The investor’s holdings represent 62.86% of the RXT Shares outstanding. As of Dec 30, 2020, the second largest holder is Searchlight Capital Partners, L.P. with 12.0 million shares valued at $228.72 million to account for 5.82% of the shares outstanding. The other top investors are Boston Partners which holds 5.41 million shares representing 2.62% and valued at over $103.07 million, while Blackrock Inc. holds 1.34% of the shares totaling 2.75 million with a market value of $52.48 million.
Rackspace Technology Inc. (NASDAQ: RXT) is 29.49% higher on its value in year-to-date trading and has touched a low of $15.25 and a high of $26.43 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The RXT stock was last observed hovering at around $24.51 in the last trading session, with the day’s gains setting it 0.17% off its average median price target of $27.50 for the next 12 months. It is also 20.39% off the consensus price target high of $31.00 offered by 11 analysts, but current levels are 1.28% higher than the price target low of $25.00 for the same period.
Currently trading at $24.68, the stock is -1.71% and 6.25% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 0.76 million and changing 0.69% at the moment leaves the stock 23.39% off its SMA200. RXT registered a gain of 53.77% in past 6-months. The firm has a 50-day simple moving average (SMA 50) of $24.21 and a 200-day simple moving average (SMA200) of $20.56.
The stock witnessed a 4.93% loss in the last 1 month and extending the period to 3 months gives it a 5.52%, and is -0.72% down over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 2.98% over the week and 3.82% over the month.
Rackspace Technology Inc. (RXT) has around 7200 employees, a market worth around $5.10B and $2.71B in sales. Fwd P/E is 19.43. Profit margin for the company is -9.10%. Distance from 52-week low is 61.84% and -6.62% from its 52-week high. The company has generated returns on investments over the last 12 months (0.30%).
Rackspace Technology Inc. (RXT) Analyst Forecasts
Analyst recommendations provided by FactSet shows that the consensus forecast for Rackspace Technology Inc. (RXT) is a “Buy”. 11 analysts offering their recommendations for the stock have an average rating of 1.70, where 0 rate it as a Hold and 1 think it is a “Overweight”. 10 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.
Rackspace Technology Inc. is expected to release its quarterly report on 09/06/2021 and quarterly earnings per share for the current quarter are estimated at $0.21 with sales reaching $724.08M over the same period.The EPS is expected to shrink by -166.30% this year, but quarterly earnings will post 11.60% year-over-year.
Rackspace Technology Inc. (RXT) Insider Activity
A total of 45 insider transactions have happened at Rackspace Technology Inc. (RXT) in the last six months, with sales accounting for 23 and purchases happening 22 times. The most recent transaction is an insider sale by Wolf Thomas, the company’s SVP, Global Sales Strat & Ops. SEC filings show that Wolf Thomas sold 19,999 shares of the company’s common stock on Mar 01 at a price of $20.66 per share for a total of $0.41 million. Following the sale, the insider now owns 8192.0 shares.
Rackspace Technology Inc. disclosed in a document filed with the SEC on Feb 09 that Mukerji Subroto (EVP, Chief Operating Officer) sold a total of 25,182 shares of the company’s common stock. The trade occurred on Feb 09 and was made at $22.60 per share for $0.57 million. Following the transaction, the insider now directly holds 0.0 shares of the RXT stock.
Still, SEC filings show that on Feb 09, Windham Holly B. (EVP, Chief Legal & People Off) disposed off 29,128 shares at an average price of $22.60 for $0.66 million. The insider now directly holds 73,920 shares of Rackspace Technology Inc. (RXT).