Red Hat Inc. (NYSE:RHT) EVP Michael Cunningham sold 15,000 shares of the firm’s stock in a transaction on Monday, October 3rd. The stock was sold at an average price of $80.42, for a total value of $1,206,300.00. Following the completion of the sale, the executive vice president now directly owns 37,484 shares of the company’s stock, valued at approximately $3,014,463.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
Michael Cunningham also recently made the following trade(s):
- On Tuesday, July 26th, Michael Cunningham sold 10,000 shares of Red Hat stock. The stock was sold at an average price of $75.00, for a total value of $750,000.00.
- On Monday, July 11th, Michael Cunningham sold 10,000 shares of Red Hat stock. The stock was sold at an average price of $73.14, for a total value of $731,400.00.
Shares of Red Hat Inc. (NYSE:RHT) opened at 79.65 on Wednesday. The company has a market cap of $14.36 billion, a P/E ratio of 66.99 and a beta of 1.52. The company’s 50-day moving average price is $75.40 and its 200 day moving average price is $74.71. Red Hat Inc. has a 52 week low of $59.59 and a 52 week high of $84.44.
Red Hat (NYSE:RHT) last announced its earnings results on Wednesday, September 21st. The open-source software company reported $0.55 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.54 by $0.01. Red Hat had a return on equity of 18.93% and a net margin of 9.84%. The company had revenue of $599.80 million for the quarter. During the same period in the prior year, the company earned $0.47 earnings per share. The company’s quarterly revenue was up 19.0% on a year-over-year basis. Equities research analysts anticipate that Red Hat Inc. will post $2.24 earnings per share for the current fiscal year.
A number of analysts recently commented on the company. Vetr raised Red Hat from a “hold” rating to a “buy” rating and set a $86.66 price target for the company in a research note on Monday. Mizuho reaffirmed a “buy” rating and issued a $88.00 price target on shares of Red Hat in a research note on Friday, September 30th. Zacks Investment Research lowered Red Hat from a “buy” rating to a “hold” rating in a research note on Thursday, September 29th. MKM Partners reiterated a “neutral” rating and issued a $75.00 price objective on shares of Red Hat in a report on Friday, September 23rd. Finally, Raymond James Financial Inc. reiterated an “outperform” rating and issued a $90.00 price objective (up previously from $85.00) on shares of Red Hat in a report on Friday, September 23rd. One analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-four have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $89.33.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Wunderlich Capital Managemnt acquired a new position in shares of Red Hat during the second quarter valued at about $137,000. Mizuho Asset Management Co. Ltd. raised its position in shares of Red Hat by 125.8% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 2,393 shares of the open-source software company’s stock worth $174,000 after buying an additional 1,333 shares in the last quarter. Hills Bank & Trust Co. purchased a new position in shares of Red Hat during the second quarter worth $222,000. Pacer Advisors Inc. raised its position in shares of Red Hat by 10.8% in the second quarter. Pacer Advisors Inc. now owns 3,392 shares of the open-source software company’s stock worth $246,000 after buying an additional 331 shares in the last quarter. Finally, Wall Street Associates purchased a new position in shares of Red Hat during the second quarter worth $247,000. 94.81% of the stock is currently owned by institutional investors.
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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