Rackspace Hosting, Inc. (RAX) Shares Sold by Ameriprise Financial Inc.
Several other hedge funds and other institutional investors have also made changes to their positions in the company. Sirios Capital Management L P acquired a new position in shares of Rackspace Hosting during the fourth quarter valued at approximately $23,920,000. River Road Asset Management LLC acquired a new stake in Rackspace Hosting during the fourth quarter valued at about $8,634,000. KBC Group NV raised its stake in Rackspace Hosting by 768.1% in the fourth quarter. KBC Group NV now owns 166,109 shares of the hosting company's stock valued at $4,206,000 after buying an additional 146,974 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Rackspace Hosting by 0.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 675,050 shares of the hosting company's stock valued at $17,092,000 after buying an additional 3,824 shares during the last quarter. Finally, Matarin Capital Management LLC acquired a new stake in Rackspace Hosti ng during the fourth quarter valued at about $1,842,000.
Shares of Rackspace Hosting, Inc. (NYSE:RAX) opened at 23.65 on Thursday. The firm has a market cap of $3.10 billion and a price-to-earnings ratio of 26.28. Rackspace Hosting, Inc. has a 52-week low of $15.05 and a 52-week high of $56.20. The stock's 50 day moving average price is $20.98 and its 200-day moving average price is $23.74.
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 Zacks' consensus estimate 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 quarter last year, the firm posted $0.26 EPS. The business's quarterly revenue was up 10.7% on a year-over-year basis. On average, analysts forecast that Rackspace Hosting, Inc. will post $0.96 EPS for the current year.
A number of analysts have weighed in on the company. RBC Capital reduced their price target on Rackspace Hosting from $36.00 to $31.00 and set an "outperform" rating for the company in a research report on Friday, January 15th. Wells Fargo reiterated an "outperform" rating on shares of Rackspace Hosting in a report on Monday, March 14th. Cowen and Company reiterated a "buy" rating and issued a $36.00 target price (down from $52.00) on shares of Rackspace Hosting in a research note on Wednesday, February 17th. SunTrust reiterated a "sector weight" rating on shares of Rackspace Hosting in a report on Wednesday, February 17th. Finally, Credit Agricole lowered shares of Rackspace Hosting from an "underperform" rating to a "sell" rating and set a $17.00 target price for the company. in a research report on Thursday, March 31st. One analyst has rated the stock with a sell rating, fourteen have given a hold rating, nine have given a buy rating and two have giv en a strong buy rating to the company's stock. The stock currently has an average rating of "Hold" and a consensus price target of $33.33.
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 Ameriprise Financial Inc.
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