Red Hat Inc. (NYSE:RHT) Director William S. Kaiser sold 12,500 shares of Red Hat stock in a transaction dated Monday, October 3rd. The stock was sold at an average price of $80.35, for a total value of $1,004,375.00. Following the completion of the transaction, the director now owns 120,814 shares in the company, valued at $9,707,404.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Red Hat Inc. (NYSE:RHT) opened at 77.80 on Monday. The firm has a market capitalization of $14.03 billion, a price-to-earnings ratio of 65.43 and a beta of 1.53. Red Hat Inc. has a 52 week low of $59.59 and a 52 week high of $84.44. The company has a 50-day moving average of $75.84 and a 200-day moving average of $74.79.
Red Hat (NYSE:RHT) last issued its quarterly earnings results on Wednesday, September 21st. The open-source software company reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.54 by $0.01. The company had revenue of $599.80 million for the quarter. Red Hat had a net margin of 9.84% and a return on equity of 18.93%. Red Hat’s revenue for the quarter was up 19.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.47 EPS. On average, equities analysts forecast that Red Hat Inc. will post $2.24 earnings per share for the current fiscal year.
RHT has been the topic of a number of recent research reports. Zacks Investment Research downgraded Red Hat from a “buy” rating to a “hold” rating in a research report on Thursday, September 29th. Vetr raised Red Hat from a “buy” rating to a “strong-buy” rating and set a $81.54 target price on the stock in a research report on Thursday, September 8th. Mizuho reissued a “buy” rating and set a $88.00 target price on shares of Red Hat in a research report on Wednesday, September 14th. Bank of America Corp. reissued a “hold” rating and set a $90.00 target price on shares of Red Hat in a research report on Thursday, September 22nd. Finally, Deutsche Bank AG reissued a “buy” rating and set a $95.00 target price on shares of Red Hat in a research report on Saturday, August 13th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and twenty-five have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $89.33.
Several institutional investors have recently modified their holdings of RHT. Emerald Acquisition Ltd. acquired a new position in shares of Red Hat during the second quarter worth approximately $87,400,000. UBS Asset Management Americas Inc. raised its position in shares of Red Hat by 155.1% in the first quarter. UBS Asset Management Americas Inc. now owns 1,227,508 shares of the open-source software company’s stock worth $91,461,000 after buying an additional 746,414 shares during the period. Smith Asset Management Group LP raised its position in shares of Red Hat by 219.6% in the second quarter. Smith Asset Management Group LP now owns 972,049 shares of the open-source software company’s stock worth $70,571,000 after buying an additional 667,933 shares during the period. Bank of Montreal Can acquired a new position in shares of Red Hat during the second quarter worth approximately $41,574,000. Finally, FMR LLC raised its position in shares of Red Hat by 5.1% in the second quarter. FMR LLC now owns 11,463,375 shares of the open-source software company’s stock worth $832,240,000 after buying an additional 558,296 shares during the period. Institutional investors own 94.81% of the company’s stock.
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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