Red Hat Inc (RHT) EVP Sells $697,200.00 in Stock

Red Hat Inc (NYSE:RHT) EVP Michael Cunningham sold 8,000 shares of the stock in a transaction on Thursday, April 20th. The shares were sold at an average price of $87.15, for a total value of $697,200.00. Following the completion of the transaction, the executive vice president now owns 25,905 shares in the company, valued at $2,257,620.75. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Michael Cunningham also recently made the following trade(s):

  • On Thursday, March 30th, Michael Cunningham sold 9,000 shares of Red Hat stock. The shares were sold at an average price of $86.39, for a total value of $777,510.00.

Shares of Red Hat Inc (NYSE:RHT) traded down 0.46% during trading on Friday, hitting $87.02. The stock had a trading volume of 941,721 shares. The firm has a 50-day moving average of $84.24 and a 200 day moving average of $79.02. The company has a market capitalization of $15.47 billion, a P/E ratio of 62.60 and a beta of 1.44. Red Hat Inc has a 1-year low of $68.54 and a 1-year high of $88.05.

Red Hat (NYSE:RHT) last released its earnings results on Monday, March 27th. The open-source software company reported $0.61 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.61. Red Hat had a net margin of 10.36% and a return on equity of 20.57%. The firm earned $628.80 million during the quarter, compared to the consensus estimate of $618.64 million. During the same period in the prior year, the firm earned $0.52 EPS. The company’s revenue was up 15.7% compared to the same quarter last year. Equities research analysts predict that Red Hat Inc will post $2.63 earnings per share for the current fiscal year.

Insider Buying and Selling by Quarter for Red Hat (NYSE:RHT)

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Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Valicenti Advisory Services Inc. increased its position in Red Hat by 0.3% in the third quarter. Valicenti Advisory Services Inc. now owns 27,600 shares of the open-source software company’s stock worth $2,231,000 after buying an additional 75 shares in the last quarter. F&V Capital Management LLC increased its position in Red Hat by 2.7% in the first quarter. F&V Capital Management LLC now owns 3,445 shares of the open-source software company’s stock worth $298,000 after buying an additional 90 shares in the last quarter. CENTRAL TRUST Co increased 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 in the last quarter. Nomura Asset Management Co. Ltd. increased its position in Red Hat by 0.7% in the third quarter. Nomura Asset Management Co. Ltd. now owns 20,230 shares of the open-source software company’s stock worth $1,635,000 after buying an additional 150 shares in the last quarter. Finally, Norinchukin Bank The increased its position in Red Hat by 1.9% in the third quarter. Norinchukin Bank The now owns 9,695 shares of the open-source software company’s stock worth $784,000 after buying an additional 178 shares in the last quarter. 95.36% of the stock is owned by hedge funds and other institutional investors.

A number of research analysts have recently weighed in on RHT shares. BMO Capital Markets downgraded Red Hat from an “outperform” rating to a “market perform” rating and cut their price target for the company from $89.00 to $75.00 in a research note on Thursday, December 22nd. Mizuho cut their price target on Red Hat from $88.00 to $80.00 and set a “buy” rating on the stock in a research note on Thursday, December 22nd. Stifel Nicolaus downgraded Red Hat from a “buy” rating to a “hold” rating and cut their price target for the company from $87.00 to $70.00 in a research note on Thursday, December 22nd. Jefferies Group LLC cut their price target on Red Hat from $79.00 to $76.00 and set a “hold” rating on the stock in a research note on Thursday, December 22nd. Finally, MKM Partners reissued a “neutral” rating and issued a $75.00 price target on shares of Red Hat in a research note on Thursday, December 22nd. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and twenty-one have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $90.60.

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.

5 Day Chart for NYSE:RHT

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