Rackspace Technology Inc (NASDAQ: RXT) is 21.00% higher on its value in year-to-date trading and has touched a low of $1.22 and a high of $3.41 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 $2.66 in the last trading session, with the day’s loss setting it -0.24%.
Currently trading at $2.42, the stock is -6.71% and -5.08% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 1.64 million and changing -9.02% at the moment leaves the stock 10.08% off its SMA200. RXT registered 57.14% gain for a year compared to 6-month gain of 14.15%. The firm has a 50-day simple moving average (SMA 50) of $2.5496 and a 200-day simple moving average (SMA200) of $2.19845.
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The stock witnessed a -5.47% loss in the last 1 month and extending the period to 3 months gives it a -1.22%, and is -12.32% 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 14.40% over the week and 7.91% over the month.
Rackspace Technology Inc (RXT) has around 5800 employees, a market worth around $501.03M and $2.77B in sales. Profit margin for the company is -27.94%. Distance from 52-week low is 98.36% and -29.01% from its 52-week high. The company has generated returns on investments over the last 12 months (-34.37%).
with sales reaching $674.98M over the same period.The EPS is expected to shrink by -83.47% this year, but quarterly earnings will post -7.80% year-over-year. Quarterly sales are estimated to shrink -6.21% in year-over-year returns.
Rackspace Technology Inc (RXT) Top Institutional Holders
136.0 institutions hold shares in Rackspace Technology Inc (RXT), with institutional investors hold 87.06% of the company’s shares. The shares outstanding are 217.40M, and float is at 59.64M with Short Float at 8.90%. Institutions hold 84.56% of the Float.
The top institutional shareholder in the company is APOLLO MANAGEMENT HOLDINGS, L.P. with over 129.61 million shares valued at $386.23 million. The investor’s holdings represent 58.9668% of the RXT Shares outstanding. As of 2024-06-30, the second largest holder is LEGAL & GENERAL GROUP PLC with 7.85 million shares valued at $23.39 million to account for 3.5713 of the shares outstanding. The other top investors are MACKENZIE FINANCIAL CORP which holds 6.97 million shares representing 3.1722% and valued at over $20.78 million, while BLACKROCK INC. holds 2.1737 of the shares totaling 4.78 million with a market value of $14.24 million.
Rackspace Technology Inc (RXT) Insider Activity
The most recent transaction is an insider sale by Maletira Amar, the company’s Chief Executive Officer. SEC filings show that Maletira Amar sold 91,863 shares of the company’s common stock on Oct 01 ’24 at a price of $2.37 per share for a total of $0.22 million. Following the sale, the insider now owns 5.07 million shares.
Rackspace Technology Inc disclosed in a document filed with the SEC on Sep 30 ’24 that Maletira Amar (Chief Executive Officer) sold a total of 84,823 shares of the company’s common stock. The trade occurred on Sep 30 ’24 and was made at $2.42 per share for $0.21 million. Following the transaction, the insider now directly holds 5.16 million shares of the RXT stock.
Still, SEC filings show that on Oct 02 ’24, Maletira Amar (Chief Executive Officer) disposed off 82,552 shares at an average price of $2.37 for $0.2 million. The insider now directly holds 4,983,984 shares of Rackspace Technology Inc (RXT).
