Rackspace Hosting Inc (NYSE:RAX) has tumbled 4.03% during the past week and has dropped 5.86% in the last 4 week period. The stocks are negative as compared to the S&P 500 for the past week with a loss of 2.88%. Rackspace Hosting Inc (NYSE:RAX) has underperformed the index by 6.72% in the last 4 weeks. Investors should watch out for further signals and trade with caution.
Rackspace Hosting Inc (NYSE:RAX): The stock opened at $22.44 on Friday but the bulls could not build on the opening and the stock topped out at $22.75 for the day. The stock traded down to $22.11 during the day, due to lack of any buying support eventually closed down at $22.15 with a loss of -1.25% for the day. The stock had closed at $22.43 on the previous day. The total traded volume was 2,857,975 shares.
The company shares have dropped -41.99% from its 1 Year high price. On Jul 15, 2015, the shares registered one year high at $39.37 and the one year low was seen on Feb 17, 2016. The 50-Day Moving Average price is $23.47 and the 200 Day Moving Average price is recorded at $22.66.
On the companys insider trading activities, The Securities and Exchange Commission has divulged that Rhodes Taylor, officer (President & CEO) of Rackspace Hosting, Inc., had unloaded 14,325 shares at an average price of $20.24 in a transaction dated on January 14, 2016. The total value of the transaction was worth $289,938.
Many analysts have stated their opinion on the company shares. Raymond James downgrades its rating on Rackspace Hosting Inc (NYSE:RAX). The global brokerage major lowers the current price target from $28 per share to $25 per share. Analysts at the Raymond James have a current rating of Outperform on the shares. The shares were previously rated Strong Buy. The rating by the firm was issued on May 10, 2016. Currently the company Insiders own 15.5% of Rackspace Hosting Inc shares according to the proxy statements. Institutional Investors own 83.65% of Rackspace Hosting Inc shares. During last six month period, the net percent change held by insiders has seen a change of -4.06%.
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.