Best Cheap Web Hosting

Rackspace Hosting, Inc. (RAX) Shares Sold by Swiss National Bank April 3rd, 2016 - By Samantha Reynolds - 0 comments

Swiss National Bank cut its position in Rackspace Hosting, Inc. (NYSE:RAX) by 27.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 148,245 shares of the hosting company's stock after selling 55,255 shares during the period. Swiss National Bank owned approximately 0.11% of Rackspace Hosting worth $3,754,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. DIAM Co. Ltd. increased its stake in Rackspace Hosting by 902.8% in the fourth quarter. DIAM Co. Ltd. now owns 138,248 shares of the hosting company's stock worth $3,500,000 after buying an additional 124,462 shares in the last quarter. 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 worth $15,070,000 after buying an additional 497,608 shares in the last quarter. Nordea Investment Management AB increased its stake 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 worth $3,132,000 after buying an additional 120,528 shares during the last quarter. Acadian Asset Management increased its stake in Rackspace Hosting by 3,208,917.7% in the fourth quarter. Acadian Asset Management now owns 1,989,591 s hares of the hosting company's stock worth $50,375,000 after buying an additional 1,989,529 shares during the last quarter. Finally, LGT Capital Partners purchased a new stake in Rackspace Hosting during the fourth quarter worth $9,879,000.

Rackspace Hosting, Inc. (NYSE:RAX) opened at 21.73 on Friday. Rackspace Hosting, Inc. has a 1-year low of $15.05 and a 1-year high of $56.20. The company has a market cap of $2.85 billion and a PE ratio of 24.14. The firm's 50-day moving average is $20.66 and its 200 day moving average is $23.96.

Rackspace Hosting (NYSE:RAX) last announced its quarterly earnings data on Tuesday, February 16th. The hosting company reported $0.24 earnings per share for the quarter, beating analysts' consensus estimates of $0.23 by $0.01. The company had revenue of $522.80 million for the quarter, compared to the consensus estimate of $521.53 million. During the same quarter in the previous year, the business earned $0.26 EPS. The company's quarterly revenue was up 10.7% compared to the same quarter last year. Analysts predict that Rackspace Hosting, Inc. will post $0.96 earnings per share for the current fiscal year.

A number of research firms have recently issued reports on RAX. Goldman Sachs initiated coverage on Rackspace Hosting in a report on Monday, December 21st. They issued a "neutral" rating and a $27.00 price objective for the company. RBC Capital reduced their price target on shares of Rackspace Hosting from $36.00 to $31.00 and set an "outperform" rating on the stock in a research report on Friday, January 15th. Zacks Investment Research downgraded shares of Rackspace Hosting from a "hold" rating to a "sell" rating in a research note on Sunday, January 24th. JMP Securities lowered their price objective on shares of Rackspace Hosting from $55.00 to $44.00 in a report on Tuesday, February 16th. Finally, Credit Suisse cut shares of 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. One analyst has rated the stock with a sell rati ng, thirteen have assigned a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company. Rackspace Hosting has an average rating of "Buy" and an average price target of $33.28.

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.

Want to see what other hedge funds are holding RAX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Rackspace Hosting, Inc. (NYSE:RAX).

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.

  Advertisement Advertisement
Source: Rackspace Hosting, Inc. (RAX) Shares Sold by Swiss National Bank