Dharmendra Kumar Sinha Sells 107,002 Shares of Rackspace Technology (NASDAQ:RXT) Stock

Posted by Brenda Bartman on Sep 4th, 2026

Rackspace Technology, Inc. (NASDAQ:RXT – Get Free Report) EVP Dharmendra Sinha sold 107,002 shares of the business’s stock in a transaction that occurred on Wednesday, September 2nd. The stock was sold at an average price of $2.95, for a total value of $315,655.90. Following the transaction, the executive vice president directly owned 3,263,429 shares in the company, valued at $9,627,115.55. This trade represents a 3.17% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible 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.

Rackspace Technology Stock Up 9.3%

Shares of Rackspace Technology stock opened at $3.29 on Friday. The stock has a market cap of $838.52 million, a P/E ratio of -5.06 and a beta of 3.05. Rackspace Technology, Inc. has a 12-month low of $0.39 and a 12-month high of $8.60. The business’s 50 day moving average is $4.44 and its 200-day moving average is $3.56.

Rackspace Technology (NASDAQ:RXT – Get Free Report) last released its earnings results on Monday, August 10th. The company reported ($0.08) earnings per share for the quarter, beating the consensus estimate of ($0.09) by $0.01. The firm had revenue of $670.10 million during the quarter, compared to the consensus estimate of $646.00 million. On average, sell-side analysts expect that Rackspace Technology, Inc. will post -0.28 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on RXT shares. Royal Bank Of Canada upped 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. Weiss Ratings reiterated a “sell (d-)” rating on shares of Rackspace Technology in a report on Friday, August 28th. Finally, Wall Street Zen downgraded Rackspace Technology from a “hold” rating to a “sell” rating in a research report on Saturday, August 15th. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Rackspace Technology has a consensus rating of “Reduce” and an average target price of $4.00.

Check Out Our Latest Analysis on RXT

Hedge Funds Weigh In On Rackspace Technology

Large investors have recently modified their holdings of the stock. BlackRock Inc. acquired a new stake in Rackspace Technology during the second quarter worth approximately $51,411,000. Vanguard Group Inc. increased its stake in shares of Rackspace Technology by 6.1% during the third quarter. Vanguard Group Inc. now owns 6,288,882 shares of the company’s stock worth $8,867,000 after purchasing an additional 359,087 shares during the period. Janus Henderson Group PLC lifted its holdings in Rackspace Technology by 179.7% during the 1st quarter. Janus Henderson Group PLC now owns 2,937,670 shares of the company’s stock worth $2,878,000 after purchasing an additional 1,887,317 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Rackspace Technology by 4.2% during the 4th quarter. Geode Capital Management LLC now owns 2,408,000 shares of the company’s stock worth $2,338,000 after purchasing an additional 96,760 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its stake in Rackspace Technology by 14.0% in the 1st quarter. Renaissance Technologies LLC now owns 2,041,600 shares of the company’s stock valued at $2,000,000 after purchasing an additional 250,700 shares during the period. 82.48% of the stock is owned by institutional investors.

More Rackspace Technology News

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

Neutral Sentiment: Several law firms reminded investors who purchased RXT shares between May 7 and July 8, 2026, that September 28 is the deadline to seek appointment as lead plaintiff in the federal securities class action. The notices are procedural and do not establish that Rackspace committed wrongdoing. Rosen Law Firm deadline announcement
Negative Sentiment: The lawsuit alleges that Rackspace and certain executives misrepresented or failed to disclose material information about its AI efforts, capacity and capital allocation. One investor notice specifically alleges that reaffirmed fiscal 2026 guidance concealed a planned shift away from the company’s highest-margin segment. If proven, the claims could create legal costs, reputational damage and potential financial liabilities. SueWallSt shareholder alert
Negative Sentiment: Another complaint-related notice alleges Rackspace’s restructuring disclosures omitted an approximately $150 million revenue shortfall that became apparent several weeks later, following a reported 33.6% stock decline. These are allegations, but the repeated notices keep litigation risk prominent for investors. Bleichmar Fonti & Auld lawsuit announcement
Neutral Sentiment: CEO Gajakarnan Vibushanan Kandiah, CFO Mark Marino and EVP Dharmendra Kumar Sinha sold shares under pre-arranged Rule 10b5-1 plans to cover tax withholding tied to equity awards. The sales totaled about $492,000, but the executives retained substantial holdings, reducing the signal of discretionary insider selling. Rackspace insider Form 4 filing

Rackspace Technology Company Profile

(Get Free Report)

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.