Red Hat (NYSE:RHT) was downgraded by research analysts at Mizuho from a “buy” rating to a “neutral” rating in a note issued to investors on Monday, The Fly reports.
A number of other research firms have also recently weighed in on RHT. Cowen reissued a “buy” rating and issued a $136.00 target price on shares of Red Hat in a research note on Monday, December 11th. Royal Bank of Canada upped their target price on shares of Red Hat to $134.00 and gave the company an “outperform” rating in a research note on Thursday, December 14th. Evercore ISI upped their price objective on shares of Red Hat to $140.00 and gave the stock a “buy” rating in a research note on Monday, December 18th. Deutsche Bank reaffirmed a “buy” rating and set a $150.00 price objective on shares of Red Hat in a research note on Wednesday, December 20th. Finally, Wells Fargo & Co set a $144.00 price objective on shares of Red Hat and gave the stock a “buy” rating in a research note on Wednesday, December 20th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and twenty-two have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $126.65.
Shares of Red Hat (RHT) opened at $155.48 on Monday. The firm has a market cap of $27,520.63, a PE ratio of 84.96, a P/E/G ratio of 4.12 and a beta of 1.06. Red Hat has a 52 week low of $81.06 and a 52 week high of $157.22. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.37 and a quick ratio of 1.37.
In related news, CEO James M. Whitehurst sold 5,593 shares of the stock in a transaction that occurred on Wednesday, January 17th. The shares were sold at an average price of $124.87, for a total value of $698,397.91. Following the transaction, the chief executive officer now directly owns 373,506 shares in the company, valued at $46,639,694.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director William S. Kaiser sold 7,700 shares of the stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $130.00, for a total transaction of $1,001,000.00. Following the completion of the transaction, the director now owns 61,652 shares in the company, valued at $8,014,760. The disclosure for this sale can be found here. Insiders have sold 14,686 shares of company stock worth $1,873,342 over the last quarter. 0.66% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Cambridge Investment Research Advisors Inc. lifted its holdings in Red Hat by 25.7% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 6,201 shares of the open-source software company’s stock valued at $745,000 after buying an additional 1,267 shares during the period. Xact Kapitalforvaltning AB lifted its holdings in Red Hat by 8.2% in the fourth quarter. Xact Kapitalforvaltning AB now owns 29,491 shares of the open-source software company’s stock valued at $3,542,000 after buying an additional 2,229 shares during the period. Envestnet Asset Management Inc. lifted its holdings in Red Hat by 2.5% in the fourth quarter. Envestnet Asset Management Inc. now owns 33,593 shares of the open-source software company’s stock valued at $4,034,000 after buying an additional 833 shares during the period. CNB Bank acquired a new position in Red Hat in the fourth quarter valued at approximately $262,000. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its holdings in Red Hat by 5.0% in the fourth quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 74,065 shares of the open-source software company’s stock valued at $8,895,000 after buying an additional 3,542 shares during the period. Institutional investors and hedge funds own 95.74% of the company’s stock.
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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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