First Eagle Investment Management LLC continued to hold its stake in shares of Rackspace Hosting Inc. (NYSE:RAX) during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 123,500 shares of the hosting company’s stock at the end of the third quarter. First Eagle Investment Management LLC owned about 0.10% of Rackspace Hosting worth $3,914,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Shelton Capital Management raised its stake in shares of Rackspace Hosting by 1.6% in the second quarter. Shelton Capital Management now owns 12,402 shares of the hosting company’s stock worth $259,000 after buying an additional 200 shares in the last quarter. Parkwood LLC increased its stake in Rackspace Hosting by 1.5% in the third quarter. Parkwood LLC now owns 14,920 shares of the hosting company’s stock valued at $473,000 after buying an additional 222 shares during the last quarter. Globeflex Capital L P increased its stake 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 last quarter. Advisory Services Network LLC increased its stake 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 last quarter. Finally, CIBC Asset Management Inc increased its stake 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 last quarter. 77.98% of the stock is owned by hedge funds and other institutional investors.

Institutional Ownership by Quarter for Rackspace Hosting (NYSE:RAX)

Rackspace Hosting Inc. (NYSE:RAX) remained flat at $31.99 on Wednesday. The stock has a 50 day moving average price of $31.93 and a 200 day moving average price of $27.84. Rackspace Hosting Inc. has a 1-year low of $15.05 and a 1-year high of $31.99.

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RAX has been the subject of a number of recent research reports. FBN Securities boosted their target price on shares of Rackspace Hosting from $21.00 to $26.00 and gave the stock a “sector perform” rating in a report on Tuesday, August 9th. RBC Capital Markets reiterated an “outperform” rating and issued a $33.00 target price (up from $26.00) on shares of Rackspace Hosting in a report on Thursday, August 11th. Vetr upgraded shares of Rackspace Hosting from a “hold” rating to a “buy” rating and set a $24.00 target price for the company in a report on Tuesday, August 2nd. Wells Fargo & Co. downgraded shares of Rackspace Hosting from an “outperform” rating to a “market perform” rating in a report on Monday, August 29th. Finally, Royal Bank Of Canada boosted their target price on shares of Rackspace Hosting from $26.00 to $33.00 and gave the stock an “outperform” rating in a report on Wednesday, August 10th. Two analysts have rated the stock with a sell rating, eighteen have issued a hold rating and five have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $28.00.

In other Rackspace Hosting news, COO Mark Roenigk sold 5,000 shares of Rackspace Hosting 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 transaction, the chief operating officer now directly owns 174,697 shares in the company, valued at approximately $5,551,870.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 15.50% of the stock is owned by company insiders.

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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