Rackspace Hosting Inc. (NYSE:RAX) COO Mark Roenigk sold 5,000 shares of the stock in a transaction that occurred on Monday, October 17th. The stock was sold at an average price of $31.78, for a total value of $158,900.00. Following the completion of the sale, the chief operating officer now owns 174,697 shares in the company, valued at $5,551,870.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Rackspace Hosting Inc. (NYSE:RAX) traded down 0.03% during trading on Tuesday, hitting $31.79. The company’s stock had a trading volume of 4,422,954 shares. The firm has a market cap of $4.00 billion, a PE ratio of 27.98 and a beta of 1.66. The company has a 50-day moving average of $31.59 and a 200 day moving average of $25.98. Rackspace Hosting Inc. has a one year low of $15.05 and a one year high of $32.14.

Rackspace Hosting (NYSE:RAX) last posted its earnings results on Monday, August 8th. The hosting company reported $0.38 EPS for the quarter, beating the consensus estimate of $0.22 by $0.16. The firm had revenue of $489.40 million for the quarter, compared to analyst estimates of $521.07 million. Rackspace Hosting had a return on equity of 16.80% and a net margin of 7.39%. Rackspace Hosting’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.20 earnings per share. On average, equities analysts forecast that Rackspace Hosting Inc. will post $1.07 earnings per share for the current year.

Several equities research analysts have recently weighed in on RAX shares. JMP Securities downgraded Rackspace Hosting from an “outperform” rating to a “market perform” rating in a report on Friday, August 26th. Jefferies Group raised their price objective on Rackspace Hosting from $23.00 to $32.00 and gave the stock a “hold” rating in a report on Monday, August 29th. Zacks Investment Research upgraded Rackspace Hosting from a “hold” rating to a “buy” rating and set a $36.00 price objective on the stock in a report on Tuesday, October 11th. Royal Bank Of Canada raised their price objective on Rackspace Hosting from $26.00 to $33.00 and gave the stock an “outperform” rating in a report on Wednesday, August 10th. Finally, FBN Securities raised their price objective on Rackspace Hosting from $21.00 to $26.00 and gave the stock a “sector perform” rating in a report on Tuesday, August 9th. Two research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and five have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $29.03.

A number of institutional investors have recently bought and sold shares of the stock. Shelton Capital Management raised its position in Rackspace Hosting by 1.6% in the second quarter. Shelton Capital Management now owns 12,402 shares of the hosting company’s stock valued at $259,000 after buying an additional 200 shares during the period. Globeflex Capital L P raised its position in Rackspace Hosting by 0.8% in the second quarter. Globeflex Capital L P now owns 45,664 shares of the hosting company’s stock valued at $953,000 after buying an additional 341 shares during the period. Advisory Services Network LLC raised its position 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 valued at $112,000 after buying an additional 500 shares during the period. CIBC Asset Management Inc raised its position in Rackspace Hosting by 8.3% in the second quarter. CIBC Asset Management Inc now owns 10,797 shares of the hosting company’s stock valued at $225,000 after buying an additional 823 shares during the period. Finally, Oregon Public Employees Retirement Fund raised its position in Rackspace Hosting by 2.3% in the second quarter. Oregon Public Employees Retirement Fund now owns 39,508 shares of the hosting company’s stock valued at $824,000 after buying an additional 903 shares during the period. 83.62% of the stock is currently owned by hedge funds and other institutional investors.

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.

5 Day Chart for NYSE:RAX

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