Nordea Investment Management AB Boosts Stake in Rackspace Hosting, Inc. (RAX)
Nordea Investment Management AB raised its stake 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 institutional investor 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 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also modified their holdings of the company. LGT Capital Partners acquired a new position in shares of Rackspace Hosting during the fourth quarter valued at about $9,879,000. Janus Capital Management increased its position 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 valued at $20,378,000 after buying an additional 12,732 shares during the last quarter. Finally, Acadian Asset Management increased its position 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 valued at $50,375,000 after buying an additional 1,989,529 shares during the last quarter.
Rackspace Hosting, Inc. (NYSE:RAX) opened at 22.15 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 $19.70 and its 200-day moving average is $25.31. The firm has a market capitalization of $2.90 billion and a PE ratio of 24.61.
Rackspace Hosting (NYSE:RAX) last announced its earnings results on Tuesday, February 16th. The hosting company reported $0.24 earnings per share (EPS) for the quarter, beating the Zacks' consensus estimate of $0.23 by $0.01. During the same quarter in the prior year, the company earned $0.26 EPS. The company earned $522.80 million during the quarter, compared to the consensus estimate of $521.53 million. The business's quarterly revenue was up 10.7% on a year-over-year basis. On average, equities research analysts expect that Rackspace Hosting, Inc. will post $0.97 EPS for the current year.
Several research analysts have issued reports on the stock. Vetr downgraded shares of Rackspace Hosting from a "strong-buy" rating to a "buy" rating and set a $22.01 price objective on the stock. in a research report on Thursday, February 18th. Goldman Sachs reduced their target price on shares of Rackspace Hosting from $24.00 to $21.00 and set a "neutral" rating for the company in a research note on Wednesday, February 17th. Stifel Nicolaus cut shares of Rackspace Hosting from a "buy" rating to a "hold" rating in a research note on Wednesday, February 17th. RBC Capital upgraded shares of Rackspace Hosting from a "sector perform" rating to an "outperform" rating and raised their target price for the stock from $28.62 to $36.00 in a research note on Tuesday, December 1st. Finally, Zacks Investment Research upgraded shares of Rackspace Hosting from a "sell" rating to a "hold" rating in a research note on Sunday, February 7th. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company's stock. The stock presently has a consensus rating of "Hold" and an average target price of $33.44.
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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Source: Nordea Investment Management AB Boosts Stake in Rackspace Hosting, Inc. (RAX)
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