Red Hat, Inc. (NYSE:RHT) CEO James M. Whitehurst sold 9,122 shares of the firm’s stock in a transaction dated Tuesday, July 18th. The shares were sold at an average price of $98.02, for a total value of $894,138.44. Following the completion of the transaction, the chief executive officer now owns 414,101 shares in the company, valued at approximately $40,590,180.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Red Hat, Inc. (NYSE RHT) traded down 0.23% on Thursday, hitting $99.02. The company had a trading volume of 498,677 shares. The company has a market capitalization of $17.57 billion, a P/E ratio of 67.82 and a beta of 1.26. The stock’s 50-day moving average price is $94.23 and its 200 day moving average price is $85.52. Red Hat, Inc. has a one year low of $68.54 and a one year high of $100.80.
Red Hat (NYSE:RHT) last posted its quarterly earnings results on Tuesday, June 20th. The open-source software company reported $0.56 earnings per share for the quarter, topping analysts’ consensus estimates of $0.53 by $0.03. Red Hat had a return on equity of 22.84% and a net margin of 10.54%. The business had revenue of $677 million for the quarter, compared to the consensus estimate of $647.42 million. During the same period in the prior year, the business earned $0.50 EPS. The firm’s revenue for the quarter was up 19.2% on a year-over-year basis. On average, analysts expect that Red Hat, Inc. will post $2.68 EPS for the current fiscal year.
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A number of hedge funds and other institutional investors have recently bought and sold shares of the company. BB&T Corp increased its position in Red Hat by 19.8% in the second quarter. BB&T Corp now owns 56,011 shares of the open-source software company’s stock worth $5,364,000 after buying an additional 9,267 shares during the period. Oakbrook Investments LLC purchased a new position in Red Hat during the second quarter worth $1,142,000. US Bancorp DE increased its position in Red Hat by 1.0% in the second quarter. US Bancorp DE now owns 84,508 shares of the open-source software company’s stock worth $8,091,000 after buying an additional 870 shares during the period. Aperio Group LLC increased its position in Red Hat by 9.5% in the second quarter. Aperio Group LLC now owns 67,773 shares of the open-source software company’s stock worth $6,489,000 after buying an additional 5,902 shares during the period. Finally, Nisa Investment Advisors LLC increased its position in Red Hat by 0.6% in the second quarter. Nisa Investment Advisors LLC now owns 34,465 shares of the open-source software company’s stock worth $3,294,000 after buying an additional 200 shares during the period. 94.50% of the stock is currently owned by institutional investors and hedge funds.
Several equities analysts recently issued reports on RHT shares. William Blair reiterated an “outperform” rating on shares of Red Hat in a report on Wednesday, March 22nd. Drexel Hamilton reiterated a “buy” rating and issued a $105.00 price target on shares of Red Hat in a report on Friday, March 24th. BMO Capital Markets raised their price target on Red Hat from $75.00 to $90.00 and gave the company a “market perform” rating in a report on Tuesday, March 28th. Citigroup Inc. decreased their price target on Red Hat from $105.00 to $91.00 and set a “buy” rating on the stock in a report on Tuesday, March 28th. Finally, Deutsche Bank AG decreased their price target on Red Hat from $100.00 to $90.00 and set a “buy” rating on the stock in a report on Tuesday, March 28th. Nine investment analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $98.72.
Red Hat Company Profile
Red Hat, Inc (Red Hat) provides open source software solutions, using a community-powered approach to develop and offer operating system, virtualization, management, middleware, cloud, mobile and storage technologies. Red Hat operates through three geographical segments: the Americas, including the United States, Canada and Latin America; EMEA, including Europe, Middle East and Africa, and Asia Pacific.
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