Best Cheap Web Hosting

Tweet

California State Teachers Retirement System cut its stake in Rackspace Hosting, Inc. (NYSE:RAX) by 4.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 215,199 shares of the hosting company's stock after selling 9,400 shares during the period. California State Teachers Retirement System's holdings in Rackspace Hosting were worth $5,449,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Acadian Asset Management boosted its position in 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 period. Janus Capital Management boosted its position in 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 period. Russell Frank Co boosted its position in Rackspace Hosting by 500.6% in the fourth quarter. Russell Frank Co now owns 597,020 shares of the hosting company's stock valued at $15,070,000 after buying an additional 497,608 shares during the period. LGT Capital Partners acquired a new position in Rackspace Hosting during the fourth quarter valued at approximately $9,879,000. Finally, DIAM Co. Ltd. boosted its position in Rackspace Hosting by 902.8% in the fourth quarter. DIAM Co. Ltd. now owns 138,248 shares of the hosting company's stock valued at $3,500,000 after buying an additional 124,462 shares during the period.

Shares of Rackspace Hosting, Inc. (NYSE:RAX) opened at 20.21 on Friday. The stock has a 50 day moving average price of $20.18 and a 200-day moving average price of $24.59. Rackspace Hosting, Inc. has a 12-month low of $15.05 and a 12-month high of $56.20. The stock has a market cap of $2.65 billion and a price-to-earnings ratio of 22.46.

Rackspace Hosting (NYSE:RAX) last posted its earnings results on Tuesday, February 16th. The hosting company reported $0.24 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.23 by $0.01. The firm earned $522.80 million during the quarter, compared to the consensus estimate of $521.53 million. The business's revenue was up 10.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.26 EPS. Equities analysts anticipate that Rackspace Hosting, Inc. will post $0.96 EPS for the current fiscal year.

Several brokerages have issued reports on RAX. RBC Capital restated a "buy" rating on shares of Rackspace Hosting in a research note on Saturday, January 16th. Goldman Sachs began coverage on Rackspace Hosting in a research note on Monday, December 21st. They set a "neutral" rating and a $27.00 price objective on the stock. Credit Suisse cut Rackspace Hosting from an "outperform" rating to a "neutral" rating and cut their price objective for the company from $50.00 to $22.00 in a research note on Wednesday, February 17th. Zacks Investment Research restated a "hold" rating on shares of Rackspace Hosting in a research note on Monday, February 1st. Finally, Barclays cut Rackspace Hosting from an "overweight" rating to an "equal weight" rating and cut their price objective for the company from $35.00 to $21.00 in a research note on Wednesday, February 17th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company's stock. Rackspace Hosting has a consensus rating of "Hold" and a consensus 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.

document.write('');

Frustrated with your broker? Are you tired of paying high fees? Do you feel like you are getting ripped off by your stock broker? It's time for a change. Find out which brokerage is best for your personal trading style at the InvestorPlace Broker Center. Compare brokers at a glance in the InvestorPlace Broker Center (Click Here).

Receive News & Ratings for Rackspace Hosting Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rackspace Hosting Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Source: California State Teachers Retirement System Has $5,449,000 Position in Rackspace Hosting, Inc. (RAX)