Rackspace Hosting, Inc. (RAX) Stake Boosted by Nordea Investment Management AB
Nordea Investment Management AB boosted its position in Rackspace Hosting, Inc. (NYSE:RAX) by 3,799.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 123,700 shares of the hosting company's stock after buying an additional 120,528 shares during the period. Nordea Investment Management AB's holdings in Rackspace Hosting were worth $3,132,000 at the end of the most recent reporting period.
Other hedge funds have also recently made changes to their positions in the company. LGT Capital Partners purchased a new stake in shares of Rackspace Hosting during the fourth quarter worth about $9,879,000. Janus Capital Management increased its stake in shares of Rackspace Hosting by 1.6% in the third quarter. Janus Capital Management now owns 825,700 shares of the hosting company's stock worth $20,378,000 after buying an additional 12,732 shares during the period. Finally, Acadian Asset Management increased its stake in shares of Rackspace Hosting by 3,208,917.7% in the fourth quarter. Acadian Asset Management now owns 1,989,591 shares of the hosting company's stock worth $50,375,000 after buying an additional 1,989,529 shares during the period.
Shares of Rackspace Hosting, Inc. (NYSE:RAX) opened at 21.45 on Friday. Rackspace Hosting, Inc. has a 12 month low of $15.05 and a 12 month high of $56.20. The firm's 50 day moving average is $19.47 and its 200-day moving average is $25.58. The firm has a market capitalization of $2.86 billion and a PE ratio of 23.83.
Rackspace Hosting (NYSE:RAX) last issued its earnings results on Tuesday, February 16th. The hosting company reported $0.24 EPS for the quarter, topping the consensus estimate of $0.23 by $0.01. The company had revenue of $522.80 million for the quarter, compared to analysts' expectations of $521.53 million. During the same quarter in the previous year, the firm posted $0.26 earnings per share. Rackspace Hosting's revenue for the quarter was up 10.7% on a year-over-year basis. On average, analysts expect that Rackspace Hosting, Inc. will post $0.95 EPS for the current fiscal year.
A number of analysts recently issued reports on the stock. Needham & Company LLC reissued a "hold" rating on shares of Rackspace Hosting in a report on Tuesday, November 10th. Evercore ISI reissued a "hold" rating on shares of Rackspace Hosting in a report on Tuesday, November 10th. Stifel Nicolaus reissued a "buy" rating on shares of Rackspace Hosting in a report on Tuesday, November 10th. RBC Capital lowered their price target on shares of Rackspace Hosting from $31.00 to $26.00 and set an "outperform" rating on the stock in a report on Wednesday, February 17th. Finally, Credit Suisse reissued a "buy" rating on shares of Rackspace Hosting in a report on Tuesday, November 10th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company. The stock currently has a consensus rating of "Buy" and a consensus target price of $33.4 4.
Rackspace Hosting, Inc (NYSE:RAX) 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, including for e-commerce, Web content management, Website hosting, data services, office mail and collaboration, and private clouds.
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