Kathmere Capital Management LLC Invests $116,000 in Rackspace Technology, Inc. $RXT

Kathmere Capital Management LLC bought a new position in Rackspace Technology, Inc. (NASDAQ:RXT) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 118,000 shares of the company’s stock, valued at approximately $116,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in RXT. Creative Planning boosted its holdings in Rackspace Technology by 114.2% during the second quarter. Creative Planning now owns 25,715 shares of the company’s stock worth $33,000 after buying an additional 13,708 shares in the last quarter. Abel Hall LLC bought a new position in shares of Rackspace Technology in the first quarter valued at $30,000. Engineers Gate Manager LP increased its holdings in shares of Rackspace Technology by 47.1% in the second quarter. Engineers Gate Manager LP now owns 34,777 shares of the company’s stock valued at $45,000 after buying an additional 11,141 shares in the last quarter. Jump Financial LLC acquired a new stake in shares of Rackspace Technology during the 4th quarter valued at $34,000. Finally, SG Americas Securities LLC acquired a new stake in shares of Rackspace Technology during the 1st quarter valued at $34,000. 82.48% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Rackspace Technology

In other news, CFO Mark A. Marino sold 48,099 shares of the stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $5.56, for a total value of $267,430.44. Following the completion of the sale, the chief financial officer directly owned 3,370,431 shares of the company’s stock, valued at $18,739,596.36. This represents a 1.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 2.30% of the stock is owned by corporate insiders.

Rackspace Technology Trading Down 33.6%

Shares of RXT stock opened at $4.37 on Friday. Rackspace Technology, Inc. has a 1-year low of $0.39 and a 1-year high of $8.60. The company has a market capitalization of $1.09 billion, a price-to-earnings ratio of -7.16 and a beta of 2.99. The stock’s fifty day simple moving average is $5.34 and its 200-day simple moving average is $2.65.

Rackspace Technology (NASDAQ:RXT) last posted its quarterly earnings results on Thursday, May 7th. The company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.03). The company had revenue of $678.10 million during the quarter, compared to analysts’ expectations of $660.83 million. Rackspace Technology has set its FY 2026 guidance at -0.200–0.150 EPS.

Analysts Set New Price Targets

A number of brokerages recently issued reports on RXT. Royal Bank Of Canada lifted their target price on Rackspace Technology from $2.50 to $4.00 and gave the stock a “sector perform” rating in a report on Wednesday, June 17th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Rackspace Technology in a report on Tuesday, June 2nd. Two analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Reduce” and an average price target of $2.70.

More Rackspace Technology News

Here are the key news stories impacting Rackspace Technology this week:

• Positive Sentiment: Rackspace announced plans to accelerate its enterprise AI growth strategy and said Palantir has named it a preferred partner in regulated and sovereign markets, which could support longer-term growth. Article Title
• Positive Sentiment: The company also launched an operating framework with Palantir to deploy Foundry and AIP for regulated enterprises, reinforcing its push into enterprise AI production environments. Article Title
• Neutral Sentiment: Unusually heavy call option trading suggests some investors are speculating on a rebound, but the activity does not change the company’s fundamentals. Article Title
• Negative Sentiment: Rackspace cut its FY26 revenue outlook to about $2.5 billion-$2.6 billion, below Wall Street expectations, signaling softer growth than investors had been hoping for. Article Title
• Negative Sentiment: Second-quarter guidance also came in below estimates, and the company said it plans a stock offering, which can raise dilution concerns for shareholders. Article Title

Rackspace Technology Company Profile

Rackspace Technology (NASDAQ: RXT) is a leading provider of managed multi-cloud solutions and services, specializing in the deployment, management and optimization of public and private cloud environments. The company helps organizations design and operate applications across platforms such as Amazon Web Services (AWS), Microsoft Azure, Google Cloud and its own private cloud infrastructure. Rackspace’s core offerings include cloud migration, application modernization, data protection, security services and 24x7x365 operational support.

Beyond cloud hosting, Rackspace offers a range of professional services designed to accelerate digital transformation initiatives.