Other Hedge Funds, Including, California State Teachers Retirement System reduced its stake in RAX by selling 19,744 shares or 8.0% in the most recent quarter.
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Private equity investment firm Apollo Global Management LLC has expressed interest in the acquisition of Rackspace Hosting Inc.in an effort to increase its investments within the tech industry, according to Reuters. Martingale Asset Management L P raised its position in Rackspace Hosting by 1,027.1% in the fourth quarter. 2 Months Ago, shares have been suggested as “BUY” from “4” brokerage firms and recommended as “Strong Buy” by “2” brokerage firms. FIL Ltd raised its position in Rackspace Hosting by 89.5% in the fourth quarter. The Hedge Fund company now holds 48,260 shares of RAX which is valued at $1,121,080.
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Rackspace Hosting opened for trading at $23.25 and hit $26.55 on the upside on Thursday, eventually ending the session at $26.55, with a gain of 14.64% or 3.39 points. Rackspace has been the topic of 27 analyst reports since August 10, 2015 according to StockzIntelligence Inc. Finally, Jefferies Group reissued a “hold” rating and issued a $21.00 target price on shares of Rackspace Hosting in a report on Tuesday, May 10th. 1 analysts hold “Sell” rating for the stock. The company has an Average Rating of 2.48 based on analysts tracked by Thomson Reuters. Technical View The technical analysis of Rackspace Hosting, Inc Common S clearly shows that the moving average of 50-days of Rackspace Hosting, Inc (NYSE:RAX) stock is $22.51, and stock is trading 4.04 or +17.95% off from $22.51. It assesses shares price by the relative expense of the stock. Rackspace Hosting Inc. has a 52-week low of $15.05 and a 52-week high of $32.84. Rackspace Hosting, Inc (NYSE:RAX) ratio came in at 24.70, which was derived by dividing current price of stock by yearly earnings.
