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JPMorgan Chase & Co. increased its position in shares of Rackspace Hosting Inc. (NYSE:RAX) by 306.2% during the first quarter, Holdings Channel reports. The firm owned 327,638 shares of the hosting company's stock after buying an additional 246,984 shares during the period. JPMorgan Chase & Co.'s holdings in Rackspace Hosting were worth $7,074,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in RAX. FIL Ltd raised its stake in shares of Rackspace Hosting by 89.5% in the fourth quarter. FIL Ltd now owns 701,150 shares of the hosting company's stock worth $17,753,000 after buying an additional 331,105 shares during the period. Sirios Capital Management L P bought a new stake in shares of Rackspace Hosting during the fourth quarter worth $23,920,000. River Road Asset Management LLC bought a new stake in shares of Rackspace Hosting during the fourth quarter worth $8,634,000. KBC Group NV raised its stake in shares of Rackspace Hosting by 768.1% in the fourth quarter. KBC Group NV now owns 166,109 shares of the hosting company's stock worth $4,206,000 after buying an additional 146,974 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in shares of Rackspace Hosting by 0.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 675,050 shares of the hosting company's stock worth $17,092,000 after buying an additional 3,824 shares during the period.

Rackspace Hosting Inc. (NYSE:RAX) traded down 0.82% during mid-day trading on Friday, hitting $23.05. 1,563,457 shares of the stock traded hands. Rackspace Hosting Inc. has a 12-month low of $15.05 and a 12-month high of $37.83. The company has a market cap of $2.90 billion and a price-to-earnings ratio of 21.44. The firm's 50-day moving average is $22.72 and its 200-day moving average is $21.98.

Rackspace Hosting (NYSE:RAX) last issued its earnings results on Monday, May 9th. The hosting company reported $0.34 earnings per share for the quarter, beating the Thomson Reuters' consensus estimate of $0.22 by $0.12. During the same period in the previous year, the firm earned $0.20 EPS. The firm earned $518 million during the quarter, compared to analysts' expectations of $519.08 million. The firm's revenue was up 7.9% on a year-over-year basis. Equities research analysts expect that Rackspace Hosting Inc. will post $1.09 EPS for the current year.

A number of equities research analysts have recently weighed in on the stock. Vetr lowered shares of Rackspace Hosting from a "strong-buy" rating to a "buy" rating and set a $27.60 price objective on the stock. in a report on Wednesday, June 1st. Wells Fargo & Co. reissued a "buy" rating on shares of Rackspace Hosting in a report on Saturday, June 4th. Zacks Investment Research lowered shares of Rackspace Hosting from a "hold" rating to a "sell" rating in a report on Wednesday, April 20th. Oppenheimer Holdings Inc. reaffirmed a "buy" rating on shares of Rackspace Hosting in a report on Tuesday, May 10th. Finally, Royal Bank Of Canada reaffirmed a "buy" rating and issued a $26.00 price target on shares of Rackspace Hosting in a report on Tuesday, May 10th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. Ra ckspace Hosting currently has an average rating of "Hold" and an average target price of $29.98.

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: Rackspace Hosting Inc. (RAX) Position Boosted by JPMorgan Chase & Co.