Mackenzie Financial Corp Sells 15047 Shares of Rackspace Technology,
July 20, 2023
☀️Trending News
Mackenzie Financial Corp recently sold 15047 of their Shares of Rackspace Technology ($NASDAQ:RXT), Inc. to Defense World. This transaction took place on the Nasdaq Global Select Market and was reported in a Form 4 filing with the Securities and Exchange Commission. The company offers its customers a wide range of products and services that span across public, private, and hybrid clouds.
Additionally, Rackspace Technology offers managed services that allow users to reduce costs and increase efficiency when managing their cloud-based environment. The company’s portfolio of products and services includes, but is not limited to, managed hosting, dedicated hosting, disaster recovery, DevOps, and managed security. Additionally, Rackspace Technology has a strong presence in the Middle East, as well as a presence in Latin America. Overall, Rackspace Technology, Inc. has become a leader in the cloud infrastructure-as-a-service industry and continues to provide innovative solutions to its customers. With the sale of their shares of Rackspace Technology, Inc., Mackenzie Financial Corp has shown that they remain confident in the company’s future prospects.
Share Price
This caused the stock to open at $2.7 per share, and close at $2.5, a decline of 7.5% from its last trading price of $2.7. Despite this recent sale, the company is still well-positioned in the cloud computing market and many investors are optimistic about its future growth potential. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Rackspace Technology. More…
| Total Revenues | Net Income | Net Margin |
| 3.11k | -1.38k | -8.3% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Rackspace Technology. More…
| Operations | Investing | Financing |
| 180.3 | -83.7 | -187.5 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Rackspace Technology. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 4.75k | 4.73k | 0.11 |
Key Ratios Snapshot
Some of the financial key ratios for Rackspace Technology are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 7.7% | -74.8% | -41.0% |
| FCF Margin | ROE | ROA |
| 3.4% | -243.2% | -16.7% |
Analysis
Recently, GoodWhale conducted an analysis of RACKSPACE TECHNOLOGY‘s wellbeing. According to our Risk Rating, RACKSPACE TECHNOLOGY is a high risk investment in terms of both financial and business aspects. Moreover, our analysis detected two risk warnings in the income and balance sheets. If you want to take a look at these warnings for yourself, simply register with us and we’ll provide you with full access to our analysis. More…
Peers
It competes with Ucloud Technology Co Ltd, Oculus VisionTech Inc, and Taiwan Auto-Design Co for market share in the cloud services sector. All four companies have established reputations in their respective fields and offer a wide range of services to their customers.
– Ucloud Technology Co Ltd ($SHSE:688158)
Ucloud Technology Co Ltd is a Chinese company that specializes in cloud computing and other internet services. The company has a market cap of 6.03 billion as of 2022, making it one of the larger companies in the industry. The company has a negative return on equity of -9.55%, indicating that it is not generating enough revenue to cover its costs of capital. Despite the negative ROE, the company still has a large market cap and has been able to increase its market share in the cloud computing space.
– Oculus VisionTech Inc ($OTCPK:OVTZ)
Oculus VisionTech Inc is a technology company that specializes in virtual reality and augmented reality solutions. It has a market capitalization of 10.21 million dollars as of 2022, reflecting its size and financial standing among other companies in its field. Furthermore, its Return on Equity (ROE) of -136.71% indicates that the company is not performing optimally and may be a cause for concern for investors. However, the company does have potential for growth and success and could be a good investment opportunity for those willing to take the risk.
– Taiwan Auto-Design Co ($TPEX:6791)
Taiwan Auto-Design Co is a Taiwanese car design and manufacturing company that specializes in producing custom luxury vehicles for individual customers. The company has a market capitalization of 979.81M as of 2022, signaling the potential of the company as well as the confidence of its investors. Taiwan Auto-Design Co’s Return on Equity (ROE) of 19.36% indicates that the company is well-managed and is able to generate a healthy return on its equity investments. Therefore, Taiwan Auto-Design Co is an attractive investment opportunity for those looking for a safe and reliable return on their investments.
Summary
Rackspace Technology, Inc. is a technology company that provides cloud-based managed services. Recently, Mackenzie Financial Corp sold 15047 of its shares in the company. On the same day, the stock price of Rackspace Technology decreased. This could be an indication that investors are not yet optimistic about the company’s prospects, or that the price has become too high relative to its profitability. When it comes to investing in Rackspace Technology, it is essential to consider all factors and do thorough research before making any decisions. Factors to consider include the company’s financials, competitive landscape, technological developments, and potential growth opportunities.
Additionally, investors should compare Rackspace with other technology companies in order to determine the best investment options for their portfolios.
Related Posts
Recent Posts
Investing Everyone Can Do.
Investing shouldn’t be exclusive to a select few. We believe everyone should have the opportunity to grow their wealth. That’s why our app is designed to be accessible and user-friendly, even for beginners.
