Rackspace Hosting Inc. (RAX) Shares Sold by Arizona State Retirement System
Other hedge funds have also recently modified their holdings of the company. First Trust Advisors LP boosted its position in Rackspace Hosting by 1.7% in the third quarter. First Trust Advisors LP now owns 2,748,149 shares of the hosting company's stock worth $87,089,000 after buying an additional 46,200 shares in the last quarter. Jennison Associates LLC acquired a new position in Rackspace Hosting during the third quarter worth approximately $32,643,000. Advance Capital I Inc. acquired a new position in Rackspace Hosting during the third quarter worth approximately $215,000. Mutual of America Capital Management LLC boosted its position in Rackspace Hosting by 5.8% in the third quarter. Mutual of America Capital Management LLC now owns 82,563 shares of the hosting company's stock worth $2,616,000 after buying an additional 4,498 shares in the last quarter. Finally, LMR Partners LLP acquired a new position in Rackspace Hosting during the third quarter worth approximat ely $3,169,000. 77.98% of the stock is owned by institutional investors and hedge funds.
Rackspace Hosting Inc. (NYSE:RAX) remained flat at $31.99 during trading on Friday. Rackspace Hosting Inc. has a 52-week low of $15.05 and a 52-week high of $31.99. The company has a 50 day moving average price of $31.95 and a 200 day moving average price of $27.97.
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A number of research analysts recently commented on RAX shares. Zacks Investment Research cut Rackspace Hosting from a "buy" rating to a "hold" rating in a report on Wednesday, October 12th. Needham & Company LLC reissued a "hold" rating on shares of Rackspace Hosting in a research report on Friday, August 26th. Jefferies Group boosted their target price on Rackspace Hosting from $23.00 to $32.00 and gave the company a "hold" rating in a research report on Monday, August 29th. JMP Securities lowered Rackspace Hosting from an "outperform" rating to a "market perform" rating in a research report on Friday, August 26th. Finally, Raymond James Financial Inc. lowered Rackspace Hosting from a "market perform" rating to an "underperform" rating and set a $32.00 target price on the stock. in a research report on Tuesday, August 30th. Two equities research analysts have rated the stock with a sell rating, eighteen have given a hold rating and five have assigned a buy rating to the stock. The stock currently has an average rating of "Hold" and a consensus price target of $28.00.
In other news, COO Mark Roenigk sold 5,000 shares of Rackspace Hosting stock in a transaction dated Monday, October 17th. The shares were sold at an average price of $31.78, for a total value of $158,900.00. Following the completion of the transaction, the chief operating officer now directly owns 174,697 shares of the company's stock, valued at approximately $5,551,870.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 15.50% of the stock is currently owned by insiders.
About Rackspace Hosting
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) Shares Sold by Arizona State Retirement System
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