Rackspace Technology (NASDAQ:RXT) CFO Mark Marino Sells 51,373 Shares of Stock

Rackspace Technology, Inc. (NASDAQ:RXT) CFO Mark Marino sold 51,373 shares of the stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $2.95, for a total transaction of $151,550.35. Following the sale, the chief financial officer owned 2,865,853 shares in the company, valued at approximately $8,454,266.35. The trade was a 1.76% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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.

Rackspace Technology Stock Up 0.3%

Shares of RXT opened at $3.01 on Thursday. The company has a market capitalization of $767.16 million, a P/E ratio of -4.63 and a beta of 3.05. The firm has a 50 day moving average of $4.50 and a 200 day moving average of $3.54. Rackspace Technology, Inc. has a twelve month low of $0.39 and a twelve month high of $8.60.

Rackspace Technology (NASDAQ:RXT) last released its quarterly earnings data on Monday, August 10th. The company reported ($0.08) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.09) by $0.01. The business had revenue of $670.10 million during the quarter, compared to the consensus estimate of $646.00 million. On average, sell-side analysts expect that Rackspace Technology, Inc. will post -0.28 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on RXT. Wall Street Zen downgraded Rackspace Technology from a “hold” rating to a “sell” rating in a report on Saturday, August 15th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Rackspace Technology in a report on Friday, August 28th. Finally, Royal Bank Of Canada boosted their target price on Rackspace Technology from $2.50 to $4.00 and gave the stock a “sector perform” rating in a research report on Wednesday, June 17th. One analyst has 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 target price of $4.00.

Hedge Funds Weigh In On Rackspace Technology

Hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. purchased a new position in shares of Rackspace Technology in the 2nd quarter worth $51,411,000. Vanguard Group Inc. increased its position in Rackspace Technology by 6.1% during the third quarter. Vanguard Group Inc. now owns 6,288,882 shares of the company’s stock valued at $8,867,000 after acquiring an additional 359,087 shares during the last quarter. Janus Henderson Group PLC increased its position in Rackspace Technology by 179.7% during the first quarter. Janus Henderson Group PLC now owns 2,937,670 shares of the company’s stock valued at $2,878,000 after acquiring an additional 1,887,317 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Rackspace Technology by 4.2% during the 4th quarter. Geode Capital Management LLC now owns 2,408,000 shares of the company’s stock valued at $2,338,000 after purchasing an additional 96,760 shares during the period. Finally, Renaissance Technologies LLC grew its stake in shares of Rackspace Technology by 14.0% during the 1st quarter. Renaissance Technologies LLC now owns 2,041,600 shares of the company’s stock valued at $2,000,000 after purchasing an additional 250,700 shares during the period. 82.48% of the stock is owned by institutional investors.

Rackspace Technology News Roundup

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

• Neutral Sentiment: Investors who purchased Rackspace securities between May 7 and July 8, 2026, and suffered losses, may seek appointment as lead plaintiff by September 28. These notices are procedural and do not establish that Rackspace committed wrongdoing. Kaplan Fox deadline announcement
• Negative Sentiment: The lawsuit alleges that Rackspace and certain executives made misleading statements or failed to disclose material information about the company’s artificial-intelligence efforts and their expected impact on financial performance. Bleichmar Fonti & Auld lawsuit announcement
• Negative Sentiment: One litigation notice claims Rackspace’s June restructuring filing disclosed severance costs and anticipated savings but allegedly omitted a roughly $150 million revenue shortfall that surfaced about three weeks later. The allegations followed a reported 33.6% stock decline, increasing legal, reputational and potential financial risks for RXT. SueWallSt Rackspace deadline alert

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.