Shares of Rackspace Hosting Inc (RAX) Rally 6.71%

Rackspace Hosting Inc (RAX) has been under a strong bear grip, hence the stock is down -0.29% when compared to the S&P 500 in the past 4 weeks. However, in the near-term, buying emerged at lower levels and the stock has outperformed the S&P 500 by 5.14% in the past 1 week. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 6.71% in the last 1 week, and is up 4.06% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock. The stock has recorded a 20-day Moving Average of 6.09% and the 50-Day Moving Average is 0.83%.

Rackspace Hosting Inc (NYSE:RAX): The stock opened at $23.29 on Friday but the bulls could not build on the opening and the stock topped out at $23.55 for the day. The stock traded down to $22.97 during the day, due to lack of any buying support eventually closed down at $23.05 with a loss of -0.82% for the day. The stock had closed at $23.24 on the previous day. The total traded volume was 1,563,457 shares.


The company Insiders own 15.5% of Rackspace Hosting Inc shares according to the proxy statements. Institutional Investors own 83.81% of Rackspace Hosting Inc shares. During last six month period, the net percent change held by insiders has seen a change of 1.51%. In a related news,The officer (President & CEO) of Rackspace Hosting, Inc., Rhodes Taylor sold 14,325 shares at $20.24 on January 14, 2016. The Insider selling transaction had a total value worth of $289,938. The Insider information was disclosed with the Securities and Exchange Commission in a Form 4 filing.

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, including for e-commerce, Web content management, Website hosting, data services, office mail and collaboration, and private clouds. It also offers advisory services for technology strategy, security and compliance, application assessment and migration, and DevOps automation. The Company also offers its solutions across a variety of IT form factors, including multi-tenant public cloud, dedicated single-tenant servers, private cloud, and hybrid cloud. It also delivers managed services, and Fanatical Support across its entire product portfolio. The Company sells its services to business customers in more than 120 countries. The Company has operations located across the United States, as well as in London, Amsterdam, Zurich, Hong Kong, Sydney and Mexico City.

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