Red Hat, Inc. (NYSE:RHT) EVP Delisa Alexander sold 1,073 shares of the business’s stock in a transaction on Tuesday, October 17th. The shares were sold at an average price of $120.36, for a total value of $129,146.28. Following the completion of the sale, the executive vice president now owns 38,150 shares in the company, valued at approximately $4,591,734. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.
Shares of Red Hat, Inc. (NYSE RHT) opened at 119.855 on Thursday. Red Hat, Inc. has a 1-year low of $68.54 and a 1-year high of $122.31. The stock has a market capitalization of $21.21 billion, a P/E ratio of 71.727 and a beta of 1.25. The firm’s 50-day moving average price is $111.33 and its 200 day moving average price is $97.84.
Red Hat (NYSE:RHT) last issued its earnings results on Monday, September 25th. The open-source software company reported $0.77 EPS for the quarter, beating the Zacks’ consensus estimate of $0.67 by $0.10. Red Hat had a return on equity of 25.27% and a net margin of 11.49%. The company had revenue of $723.60 million during the quarter, compared to the consensus estimate of $699.56 million. During the same period in the previous year, the firm posted $0.55 earnings per share. Red Hat’s quarterly revenue was up 20.6% compared to the same quarter last year. Analysts expect that Red Hat, Inc. will post $2.79 EPS for the current fiscal year.
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A number of hedge funds have recently modified their holdings of RHT. OppenheimerFunds Inc. boosted its stake in Red Hat by 6.8% in the first quarter. OppenheimerFunds Inc. now owns 3,363 shares of the open-source software company’s stock valued at $291,000 after acquiring an additional 215 shares during the period. Wellington Management Group LLP boosted its stake in Red Hat by 8.8% in the first quarter. Wellington Management Group LLP now owns 145,408 shares of the open-source software company’s stock valued at $12,578,000 after acquiring an additional 11,714 shares during the period. Dimensional Fund Advisors LP boosted its stake in Red Hat by 3.5% in the first quarter. Dimensional Fund Advisors LP now owns 401,242 shares of the open-source software company’s stock valued at $34,705,000 after acquiring an additional 13,616 shares during the period. United Capital Financial Advisers LLC boosted its stake in Red Hat by 65.8% in the first quarter. United Capital Financial Advisers LLC now owns 12,542 shares of the open-source software company’s stock valued at $1,085,000 after acquiring an additional 4,978 shares during the period. Finally, Highbridge Capital Management LLC acquired a new position in Red Hat in the first quarter valued at approximately $12,064,000. Institutional investors own 94.01% of the company’s stock.
Several equities research analysts recently issued reports on RHT shares. Credit Suisse Group started coverage on Red Hat in a report on Tuesday, September 5th. They issued a “neutral” rating and a $111.00 price objective on the stock. BTIG Research cut their price objective on Red Hat from $120.00 to $95.00 and set a “buy” rating on the stock in a report on Wednesday, June 21st. Rosenblatt Securities reiterated a “buy” rating and issued a $112.00 price objective (up previously from $95.00) on shares of Red Hat in a report on Thursday, June 22nd. Piper Jaffray Companies reiterated a “hold” rating and issued a $100.00 price objective on shares of Red Hat in a report on Sunday, August 27th. Finally, Moffett Nathanson started coverage on Red Hat in a report on Wednesday, September 6th. They issued a “buy” rating on the stock. Ten investment analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. Red Hat presently has an average rating of “Buy” and a consensus target price of $110.93.
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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