Russell Frank Co Acquires 497,608 Shares of Rackspace Hosting, Inc. (RAX)
Russell Frank Co boosted its stake in shares of Rackspace Hosting, Inc. (NYSE:RAX) by 500.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 597,020 shares of the hosting company's stock after buying an additional 497,608 shares during the period. Russell Frank Co's holdings in Rackspace Hosting were worth $15,070,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently added to or reduced their stakes in RAX. 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 in the last quarter. Nordea Investment Management AB increased its position in 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 in the last quarter. LGT Capital Partners purchased a new position in Rackspace Hosting during the fourth quarter valued at $9,879,000. Finally, Acadian Asset Management increased 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 in the last quarter.
Rackspace Hosting, Inc. (NYSE:RAX) traded up 0.20% during midday trading on Wednesday, hitting $20.28. The stock had a trading volume of 1,814,933 shares. The stock has a 50-day moving average price of $20.09 and a 200 day moving average price of $24.73. The firm has a market cap of $2.66 billion and a PE ratio of 22.53. Rackspace Hosting, Inc. has a one year low of $15.05 and a one year high of $56.20.
Rackspace Hosting (NYSE:RAX) last announced its earnings results on Tuesday, February 16th. The hosting company reported $0.24 EPS for the quarter, beating 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. The business's quarterly revenue was up 10.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.26 earnings per share. On average, analysts predict that Rackspace Hosting, Inc. will post $0.96 earnings per share for the current year.
Several equities analysts have weighed in on the company. RBC Capital reaffirmed a "buy" rating on shares of Rackspace Hosting in a research report on Saturday, January 16th. Goldman Sachs assumed coverage on Rackspace Hosting in a research report on Monday, December 21st. They issued a "neutral" rating and a $27.00 target price for the company. Barclays downgraded Rackspace Hosting from an "overweight" rating to an "equal weight" rating and dropped their target price for the company from $35.00 to $21.00 in a research report on Wednesday, February 17th. Zacks Investment Research reaffirmed a "hold" rating on shares of Rackspace Hosting in a research report on Monday, February 1st. Finally, FBN Securities raised Rackspace Hosting from an "underperform" rating to a "sector perform" rating and dropped their target price for the company from $30.00 to $21.00 in a research report on Wednesday, February 17th. One investment analyst has rated the stock wit h a sell rating, fourteen have assigned a hold rating, nine have given a buy rating and two have given a strong buy rating to the company's stock. The company currently 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.
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Source: Russell Frank Co Acquires 497,608 Shares of Rackspace Hosting, Inc. (RAX)
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