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Rackspace Hosting (NYSE:RAX) fell 5.5% on Friday following insider selling activity, AnalystRatings.Net reports. The stock traded as low as $27.38 and last traded at $27.40, with a volume of 1,544,339 shares. The stock had previously closed at $28.98.

Specifically, Director Graham M. Weston acquired 85,500 shares of the company's stock in a transaction that occurred on Tuesday, August 25th. The stock was bought at an average price of $29.24 per share, for a total transaction of $2,500,020.00. Following the acquisition, the director now directly owns 318,599 shares in the company, valued at $9,315,834.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Tiffany Lathe sold 4,500 shares of the business's stock in a transaction on Wednesday, November 11th. The shares were sold at an average price of $29.66, for a total value of $133,470.00. Following the transaction, the vice president now owns 35,564 shares of the company's stock, valued at approximately $1,054,828.24. The disclosure for this sale can be found here.

A number of equities analysts recently issued reports on RAX shares. RBC Capital lowered their target price on Rackspace Hosting from $43.00 to $36.00 and set a "sector perform" rating for the company in a report on Monday, August 10th. Bank of America raised Rackspace Hosting from a "neutral" rating to a "buy" rating and reduced their price target for the stock from $47.00 to $38.00 in a research report on Monday, November 2nd. Credit Agricole lowered Rackspace Hosting from an "outperform" rating to an "underperform" rating in a research report on Tuesday, August 11th. KeyBanc cut their price objective on Rackspace Hosting from $58.00 to $45.00 and set an "overweight" rating on the stock in a report on Tuesday, August 11th. Finally, Needham & Company LLC restated a "hold" rating on shares of Rackspace Hosting in a research note on Tuesday. Five equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, twe lve have assigned a buy rating and two have assigned a strong buy rating to the stock. The company presently has an average rating of "Hold" and an average target price of $41.77.

The firm has a market capitalization of $3.63 billion and a P/E ratio of 29.27. The stock has a 50 day moving average of $26.44 and a 200-day moving average of $34.45.

Rackspace Hosting (NYSE:RAX) last posted its earnings results on Monday, November 9th. The hosting company reported $0.26 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.20 by $0.06. During the same period in the previous year, the company posted $0.18 EPS. The company earned $509 million during the quarter, compared to analysts' expectations of $503.08 million. Rackspace Hosting's quarterly revenue was up 10.7% compared to the same quarter last year. Equities analysts expect that Rackspace Hosting will post $0.88 EPS for the current year.

Rackspace Hosting, Inc. (NYSE:RAX) manages in the managed cloud section of the company information technology (IT) marketplace. The Organization provides a portfolio of integrated IT solutions for common business wants, including for ecommerce, Web content management, office mail, info services, Website hosting and collaboration, and private clouds. Additionally, it offers advisory services for security, technology strategy and compliance, application evaluation and migration, and DevOps automation. The Business offers its solutions across a number of IT form factors, including multi-tenant public cloud – cloud that is private, renter servers, and cloud that is hybrid. It also delivers managed services, and Fanatical Support across its entire product portfolio. The Company sells its services to business customers in more than 120 countries. The Company has operations located throughout the United States, along with in Sydney, London, Amsterdam, Zurich, Hong Kong and Mexico City.

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Source: Rackspace Hosting Shares Down 5.5% on Insider Selling (RAX)