Red Hat Inc (NYSE:RHT) CEO James M. Whitehurst sold 26,250 shares of the firm’s stock in a transaction dated Thursday, April 20th. The stock was sold at an average price of $86.85, for a total transaction of $2,279,812.50. Following the transaction, the chief executive officer now owns 397,380 shares of the company’s stock, valued at approximately $34,512,453. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
Shares of Red Hat Inc (NYSE:RHT) traded down 0.46% during trading on Friday, hitting $87.02. 941,721 shares of the stock were exchanged. Red Hat Inc has a 52 week low of $68.54 and a 52 week high of $88.05. The firm’s 50 day moving average price is $84.24 and its 200-day moving average price is $79.02. The stock has a market cap of $15.47 billion, a P/E ratio of 62.60 and a beta of 1.44.
Red Hat (NYSE:RHT) last released its quarterly earnings data on Monday, March 27th. The open-source software company reported $0.61 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.61. Red Hat had a net margin of 10.36% and a return on equity of 20.57%. The firm had revenue of $628.80 million for the quarter, compared to analyst estimates of $618.64 million. During the same period last year, the firm earned $0.52 earnings per share. The business’s quarterly revenue was up 15.7% compared to the same quarter last year. On average, analysts predict that Red Hat Inc will post $2.63 EPS for the current year.
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Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Acrospire Investment Management LLC raised its position in Red Hat by 36.4% in the third quarter. Acrospire Investment Management LLC now owns 1,500 shares of the open-source software company’s stock worth $121,000 after buying an additional 400 shares during the period. Fuller & Thaler Asset Management Inc. raised its position in Red Hat by 183.3% in the third quarter. Fuller & Thaler Asset Management Inc. now owns 1,700 shares of the open-source software company’s stock worth $137,000 after buying an additional 1,100 shares during the period. CENTRAL TRUST Co raised its position in Red Hat by 8.2% in the first quarter. CENTRAL TRUST Co now owns 1,839 shares of the open-source software company’s stock worth $159,000 after buying an additional 139 shares during the period. People s United Financial Inc. acquired a new position in Red Hat during the third quarter worth $205,000. Finally, United Bank acquired a new position in Red Hat during the fourth quarter worth $217,000. 95.36% of the stock is currently owned by hedge funds and other institutional investors.
A number of research analysts have commented on the stock. Vetr upgraded shares of Red Hat from a “buy” rating to a “strong-buy” rating and set a $82.00 price target for the company in a research note on Tuesday, January 17th. Oppenheimer Holdings Inc. reaffirmed an “outperform” rating and set a $88.00 price objective on shares of Red Hat in a report on Monday, December 26th. Drexel Hamilton raised their price objective on shares of Red Hat to $110.00 in a report on Tuesday, March 28th. Stifel Nicolaus reaffirmed a “hold” rating and set a $83.00 price objective (up previously from $70.00) on shares of Red Hat in a report on Tuesday, March 28th. Finally, BMO Capital Markets raised their price objective on shares of Red Hat from $75.00 to $90.00 and gave the stock a “market perform” rating in a report on Tuesday, March 28th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and twenty-one have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $90.60.
About Red Hat
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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