Rackspace Hosting, Inc. (RAX) Shares Sold by Swiss National Bank
Swiss National Bank decreased its stake in shares of Rackspace Hosting, Inc. (NYSE:RAX) by 27.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 148,245 shares of the hosting company's stock after selling 55,255 shares during the period. Swiss National Bank's holdings in Rackspace Hosting were worth $3,754,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. LGT Capital Partners purchased a new position in shares of Rackspace Hosting during the fourth quarter valued at about $9,879,000. Nordea Investment Management AB boosted its stake 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 in the last quarter. Janus Capital Management boosted its stake in shares of 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. DIAM Co. Ltd. boosted its stake in shares of 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 in the last quarter. Finally, Russell Frank Co boosted its stake in shares of 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 in the last quarter.
Shares of 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 stock has a market cap of $2.85 billion and a PE ratio of 24.14. The stock's 50 day moving average is $20.66 and its 200-day moving average is $23.96.
Rackspace Hosting (NYSE:RAX) last posted its quarterly earnings data on Tuesday, February 16th. The hosting company reported $0.24 earnings per share for the quarter, beating the Thomson Reuters' consensus estimate of $0.23 by $0.01. During the same period in the previous year, the company posted $0.26 earnings per share. The firm earned $522.80 million during the quarter, compared to analyst estimates of $521.53 million. Rackspace Hosting's revenue was up 10.7% compared to the same quarter last year. On average, analysts predict that Rackspace Hosting, Inc. will post $0.96 EPS for the current fiscal year.
RAX has been the subject of a number of research reports. Bank of America reaffirmed a "buy" rating on shares of Rackspace Hosting in a research note on Sunday, March 27th. RBC Capital lowered their price target on shares of Rackspace Hosting from $31.00 to $26.00 and set an "outperform" rating for the company in a research report on Wednesday, February 17th. JPMorgan Chase & Co. dropped their price objective on shares of Rackspace Hosting from $34.00 to $22.00 and set a "neutral" rating on the stock in a research note on Wednesday, February 17th. Barclays lowered shares of 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 report on Wednesday, February 17th. Finally, Cowen and Company reissued a "buy" rating and issued a $36.00 price objective (down previously from $52.00) on shares of Rackspace Hosting in a research note on Wednesday, February 17th. One e quities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company. The company presently has a consensus 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.
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Source: Rackspace Hosting, Inc. (RAX) Shares Sold by Swiss National Bank
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