Red Hat, Inc. (NYSE:RHT) CEO James M. Whitehurst sold 4,211 shares of the business’s stock in a transaction dated Tuesday, October 17th. The stock was sold at an average price of $120.36, for a total value of $506,835.96. The sale was disclosed in a filing with the SEC, which is available through this link.
Red Hat, Inc. (NYSE:RHT) traded down 0.36% during mid-day trading on Wednesday, reaching $120.69. The company had a trading volume of 1,074,095 shares. Red Hat, Inc. has a one year low of $68.54 and a one year high of $122.31. The firm has a market capitalization of $21.36 billion, a P/E ratio of 72.23 and a beta of 1.25. The firm’s 50-day moving average is $110.14 and its 200-day moving average is $97.17.
Red Hat (NYSE:RHT) last issued its earnings results on Monday, September 25th. The open-source software company reported $0.77 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.67 by $0.10. The business had revenue of $723.60 million during the quarter, compared to the consensus estimate of $699.56 million. Red Hat had a return on equity of 25.27% and a net margin of 11.49%. The firm’s revenue for the quarter was up 20.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.55 earnings per share. On average, equities research analysts anticipate that Red Hat, Inc. will post $2.79 earnings per share for the current fiscal year.
TRADEMARK VIOLATION NOTICE: This article was originally posted by Ticker Report and is the property of of Ticker Report. If you are reading this article on another domain, it was stolen and republished in violation of United States and international copyright and trademark law. The original version of this article can be read at https://www.tickerreport.com/banking-finance/2968949/red-hat-inc-rht-ceo-james-m-whitehurst-sells-4211-shares.html.
Several brokerages have weighed in on RHT. Deutsche Bank AG reissued a “buy” rating and set a $130.00 price objective on shares of Red Hat in a report on Monday, October 2nd. BTIG Research reissued a “buy” rating and set a $120.00 price objective on shares of Red Hat in a report on Wednesday, September 27th. JMP Securities boosted their price objective on Red Hat from $107.00 to $122.00 and gave the stock an “outperform” rating in a report on Wednesday, September 13th. Credit Suisse Group began coverage on Red Hat in a report on Tuesday, September 5th. They set a “neutral” rating and a $111.00 price objective for the company. Finally, Wells Fargo & Company reissued an “outperform” rating and set a $120.00 price objective (up from $115.00) on shares of Red Hat in a report on Tuesday, September 19th. Ten equities research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company’s stock. Red Hat currently has an average rating of “Buy” and an average price target of $110.93.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. D.A. Davidson & CO. increased its holdings in shares of Red Hat by 6.8% during the second quarter. D.A. Davidson & CO. now owns 1,071 shares of the open-source software company’s stock valued at $102,000 after acquiring an additional 68 shares in the last quarter. Clear Perspective Advisors LLC bought a new stake in shares of Red Hat during the second quarter valued at approximately $112,000. Sun Life Financial INC increased its holdings in shares of Red Hat by 14,837.5% during the second quarter. Sun Life Financial INC now owns 1,195 shares of the open-source software company’s stock valued at $114,000 after acquiring an additional 1,187 shares in the last quarter. Shine Investment Advisory Services Inc. bought a new stake in shares of Red Hat during the second quarter valued at approximately $117,000. Finally, State of Alaska Department of Revenue bought a new stake in shares of Red Hat during the second quarter valued at approximately $122,000. Hedge funds and other institutional investors own 94.01% of the company’s stock.
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.
Receive News & Ratings for Red Hat Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Red Hat Inc. and related companies with MarketBeat.com's FREE daily email newsletter.