Rackspace Hosting, Inc. (RAX) Stake Cut by Oxford Asset Management
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Nordea Investment Management AB increased its position in shares of Rackspace Hosting by 3,799.7% in the fourth quarter. Nordea Investment Management AB now owns 123,700 shares of the hosting company's stock valued at $3,132,000 after buying an additional 120,528 shares during the period. DIAM Co. Ltd. increased 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 last quarter. LGT Capital Partners bought a new position in Rackspace Hosting during the fourth quarter valued at about $9,879,000. Russell Frank Co increased 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 b uying an additional 497,608 shares during the last quarter. Finally, Janus Capital Management increased 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 last quarter.
Rackspace Hosting, Inc. (NYSE:RAX) traded up 1.61% during midday trading on Monday, hitting $21.49. 252,740 shares of the company were exchanged. The stock has a market capitalization of $2.82 billion and a PE ratio of 23.88. Rackspace Hosting, Inc. has a one year low of $15.05 and a one year high of $56.20. The firm's 50-day moving average price is $20.02 and its 200-day moving average price is $24.96.
Rackspace Hosting (NYSE:RAX) last released its quarterly earnings results on Tuesday, February 16th. The hosting company reported $0.24 EPS for the quarter, topping analysts' consensus estimates of $0.23 by $0.01. The business had revenue of $522.80 million for the quarter, compared to the consensus estimate of $521.53 million. During the same period in the prior year, the business posted $0.26 earnings per share. Rackspace Hosting's revenue was up 10.7% compared to the same quarter last year. Equities research analysts anticipate that Rackspace Hosting, Inc. will post $0.96 earnings per share for the current year.
RAX has been the topic of several research reports. JMP Securities dropped their price objective on shares of Rackspace Hosting from $55.00 to $44.00 in a report on Tuesday, February 16th. Zacks Investment Research upgraded shares of Rackspace Hosting from a "sell" rating to a "hold" rating in a report on Sunday, February 7th. Vetr upgraded shares of Rackspace Hosting from a "hold" rating to a "buy" rating and set a $20.76 price objective on the stock in a report on Wednesday, February 24th. Credit Agricole restated an "underperform" rating and set a $23.00 price objective (down previously from $27.00) on shares of Rackspace Hosting in a report on Tuesday, November 24th. Finally, Goldman Sachs initiated coverage on shares of Rackspace Hosting in a report on Monday, December 21st. They set a "neutral" rating and a $27.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating, nine have given a buy rating and two have given a strong buy rating to the stock. The company has an average rating of "Hold" and an average price target 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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