Jupiter Topco LLC Invests $10.46 Million in Rackspace Technology, Inc. $RXT

Jupiter Topco LLC bought a new position in Rackspace Technology, Inc. (NASDAQ:RXT) in the second quarter, Holdings Channel reports. The firm bought 1,602,104 shares of the company’s stock, valued at approximately $10,462,000.

Several other institutional investors and hedge funds have also made changes to their positions in RXT. Legal & General Group Plc acquired a new position in shares of Rackspace Technology in the second quarter valued at about $58,000. Quantbot Technologies LP purchased a new position in Rackspace Technology in the second quarter valued at $63,000. Allworth Financial LP purchased a new stake in shares of Rackspace Technology during the 2nd quarter worth about $66,000. Strategic Investment Solutions Inc. IL purchased a new position in Rackspace Technology during the second quarter worth approximately $67,000. Finally, Wealthcare Advisory Partners LLC acquired a new stake in Rackspace Technology in the 2nd quarter valued at $72,000. 82.48% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Rackspace Technology

In other Rackspace Technology news, CFO Mark A. Marino sold 48,099 shares of the business’s stock in a transaction that occurred on Thursday, June 4th. The stock was 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 owned 3,370,431 shares in the company, valued at approximately $18,739,596.36. The trade was a 1.41% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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. Also, Director Anthony Scott sold 48,780 shares of the stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $4.25, for a total value of $207,315.00. Following the completion of the sale, the director directly owned 180,215 shares of the company’s stock, valued at $765,913.75. The trade was a 21.30% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 2.30% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on RXT. Wall Street Zen lowered Rackspace Technology from a “hold” rating to a “sell” rating in a research note on Saturday, August 15th. Royal Bank Of Canada boosted their target price on shares of Rackspace Technology from $2.50 to $4.00 and gave the company a “sector perform” rating in a report on Wednesday, June 17th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Rackspace Technology in a report on Tuesday, June 2nd. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Reduce” and a consensus target price of $4.00.

More Rackspace Technology News

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

• Neutral Sentiment: A securities class action has been filed in federal court on behalf of investors who purchased Rackspace securities between May 7 and July 8, 2026. Investors have until September 28, 2026 to seek appointment as lead plaintiff. The deadline notices from several firms largely repeat the same allegations and do not represent separate lawsuits. Rackspace Technology Securities Fraud Class Action Deadline
• Negative Sentiment: The complaints allege that Rackspace and certain executives misled investors about the company’s artificial-intelligence strategy, including the possibility that the pivot would reduce revenue in both cloud segments. One notice says the allegations followed a single-session share-price collapse of approximately 33.6% on unusually heavy volume. These allegations have not been proven in court. Rackspace Investor Class Action Market Impact Alert
• Negative Sentiment: The concentration of investor-alert announcements from numerous securities law firms increases visibility around the alleged disclosure issues and may weigh on sentiment. If the case advances, Rackspace could face litigation costs, management distraction, potential damages and additional disclosure scrutiny.

Rackspace Technology Price Performance

Shares of NASDAQ RXT opened at $3.15 on Friday. Rackspace Technology, Inc. has a 1-year low of $0.39 and a 1-year high of $8.60. The stock’s 50-day moving average is $4.74 and its two-hundred day moving average is $3.46. The company has a market cap of $802.84 million, a price-to-earnings ratio of -4.85 and a beta of 3.05.

Rackspace Technology (NASDAQ:RXT) last announced its quarterly earnings data on Monday, August 10th. The company reported ($0.08) EPS for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.01. The firm had revenue of $670.10 million during the quarter, compared to analysts’ expectations of $646.00 million. Equities research analysts anticipate that Rackspace Technology, Inc. will post -0.28 earnings per share for the current fiscal year.

About Rackspace Technology

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.