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Ruffer LLP held its stake in shares of Rackspace Hosting, Inc. (NYSE:RAX) during the first quarter, Holdings Channel reports. The fund owned 18,000 shares of the hosting company's stock at the end of the first quarter. Ruffer LLP's holdings in Rackspace Hosting were worth $389,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of RAX. Janus Capital Management raised 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 worth $20,378,000 after buying an additional 12,732 shares in the last quarter. Acadian Asset Management raised its position in shares of 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 worth $50,375,000 after buying an additional 1,989,529 shares during the last quarter. Nordea Investment Management AB boosted its position 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 during the period. Russell Frank Co boosted its position in shares of Racks pace 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 during the period. Finally, DIAM Co. Ltd. boosted its position 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 during the period.

Rackspace Hosting, Inc. (NYSE:RAX) opened at 22.57 on Thursday. The firm has a market capitalization of $2.84 billion and a price-to-earnings ratio of 21.00. The stock's 50 day moving average price is $23.56 and its 200-day moving average price is $22.71. Rackspace Hosting, Inc. has a one year low of $15.05 and a one year high of $39.37.

Rackspace Hosting (NYSE:RAX) last issued its quarterly earnings data on Monday, May 9th. The hosting company reported $0.34 earnings per share (EPS) for the quarter, beating the Thomson Reuters' consensus estimate of $0.22 by $0.12. During the same quarter in the prior year, the firm posted $0.20 earnings per share. The business earned $518 million during the quarter, compared to analyst estimates of $519.08 million. Rackspace Hosting's revenue for the quarter was up 7.9% compared to the same quarter last year. On average, equities research analysts expect that Rackspace Hosting, Inc. will post $1.09 EPS for the current fiscal year.

Several brokerages have recently weighed in on RAX. Wells Fargo restated an "outperform" rating on shares of Rackspace Hosting in a report on Monday, March 14th. Vetr raised shares of Rackspace Hosting from a "hold" rating to a "buy" rating and set a $20.76 price target for the company in a report on Wednesday, February 24th. Zacks Investment Research lowered shares of Rackspace Hosting from a "hold" rating to a "sell" rating in a research report on Wednesday, April 20th. FBN Securities raised shares of Rackspace Hosting from an "underperform" rating to a "sector perform" rating and lowered their price objective for the stock from $30.00 to $21.00 in a research note on Wednesday, February 17th. Finally, RBC Capital reiterated a "buy" rating and issued a $26.00 target price on shares of Rackspace Hosting in a report on Tuesday, May 10th. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating, nine have assigned a buy ra ting and one has assigned a strong buy rating to the stock. Rackspace Hosting has an average rating of "Hold" and a consensus target price of $30.45.

Rackspace Hosting, Inc (Rackspace) 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. The Company offers services for certain applications, including e-commerce and Web content management sites, business-productivity applications, such as e-mail and collaboration, and data stores.

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Source: Ruffer LLP Continues to Hold Position in Rackspace Hosting, Inc. (RAX)