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Wells Fargo & Company MN cut its stake in shares of Rackspace Hosting, Inc. (NYSE:RAX) by 36.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 137,182 shares of the hosting company's stock after selling 78,899 shares during the period. Wells Fargo & Company MN's holdings in Rackspace Hosting were worth $3,473,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Profund Advisors LLC boosted its stake in Rackspace Hosting by 42.8% in the fourth quarter. Profund Advisors LLC now owns 59,364 shares of the hosting company's stock valued at $1,503,000 after buying an additional 17,798 shares during the period. Liberty Mutual Group Asset Management Inc. boosted its stake in Rackspace Hosting by 43.3% in the fourth quarter. Liberty Mutual Group Asset Management Inc. now owns 73,834 shares of the hosting company's stock valued at $1,871,000 after buying an additional 22,315 shares during the period. Engineers Gate Manager LP boosted its stake in Rackspace Hosting by 43.9% in the fourth quarter. Engineers Gate Manager LP now owns 83,125 shares of the hosting company's stock valued at $2,105,000 after buying an additional 25,356 shares during the period. Cornerstone Capital Management Holdings LLC. boosted its stake in Rackspace Hosting by 170.7% in the fourth quarter. Cornerstone Capital Management Holdings LLC. now owns 107,429 shares of the hosting company's stock valued at $2,720,000 after buying an additional 67,737 shares during the period. Finally, South Dakota Investment Council boosted its stake in Rackspace Hosting by 61.8% in the fourth quarter. South Dakota Investment Council now owns 112,800 shares of the hosting company's stock valued at $2,856,000 after buying an additional 43,100 shares during the period.

Rackspace Hosting, Inc. (NYSE:RAX) opened at 22.15 on Monday. 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 stock has a market capitalization of $2.90 billion and a P/E ratio of 24.61.

Rackspace Hosting (NYSE:RAX) last released its quarterly earnings data on Tuesday, February 16th. The hosting company reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.01. During the same quarter in the prior year, the firm earned $0.26 earnings per share. The business had revenue of $522.80 million for the quarter, compared to analysts' expectations of $521.53 million. Rackspace Hosting's quarterly revenue was up 10.7% compared to the same quarter last year. On average, equities analysts anticipate that Rackspace Hosting, Inc. will post $0.97 earnings per share for the current year.

Several analysts have recently weighed in on RAX shares. Goldman Sachs dropped their price target on shares of Rackspace Hosting from $27.00 to $24.00 in a research note on Monday, February 1st. JMP Securities dropped their price target on shares of Rackspace Hosting from $55.00 to $44.00 in a research note on Tuesday, February 16th. Stifel Nicolaus restated a "buy" rating on shares of Rackspace Hosting in a report on Tuesday, November 10th. Credit Suisse restated a "buy" rating on shares of Rackspace Hosting in a report on Tuesday, November 10th. Finally, Cowen and Company restated a "buy" rating and issued a $52.00 price objective (up from $48.00) on shares of Rackspace Hosting in a report on Tuesday, November 10th. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the stock. The company presently has an average 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: Wells Fargo & Company MN Sells 78,899 Shares of Rackspace Hosting, Inc. (RAX)