Red Hat Inc. (NYSE:RHT) Director General Henry Hugh Shelton sold 15,000 shares of the firm’s stock in a transaction dated Friday, September 30th. The shares were sold at an average price of $80.70, for a total value of $1,210,500.00. Following the completion of the sale, the director now directly owns 9,026 shares in the company, valued at $728,398.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.
Shares of Red Hat Inc. (NYSE:RHT) opened at 77.80 on Monday. The firm has a market cap of $14.03 billion, a price-to-earnings ratio of 65.43 and a beta of 1.53. The firm’s 50-day moving average is $75.84 and its 200-day moving average is $74.79. Red Hat Inc. has a 12-month low of $59.59 and a 12-month high of $84.44.
Red Hat (NYSE:RHT) last posted its quarterly earnings results on Wednesday, September 21st. The open-source software company reported $0.55 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.54 by $0.01. The business 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%. The business’s revenue was up 19.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.47 EPS. Analysts predict that Red Hat Inc. will post $2.24 earnings per share for the current fiscal year.
A number of research firms recently weighed in on RHT. Mizuho reissued a “buy” rating and set a $88.00 target price on shares of Red Hat in a research report on Friday, September 30th. Vetr raised Red Hat from a “hold” rating to a “buy” rating and set a $86.66 target price on the stock in a research report on Monday, October 3rd. Zacks Investment Research downgraded Red Hat from a “buy” rating to a “hold” rating in a research report on Thursday, September 29th. Oppenheimer Holdings Inc. set a $88.00 target price on Red Hat and gave the stock a “buy” rating in a research report on Thursday, September 22nd. Finally, JMP Securities reissued a “buy” rating on shares of Red Hat in a research report on Thursday, September 22nd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-five have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $89.33.
Several hedge funds have recently bought and sold shares of the company. Wunderlich Capital Managemnt purchased a new stake in Red Hat during the second quarter valued at about $137,000. Mizuho Asset Management Co. Ltd. raised its stake in Red Hat by 125.8% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 2,393 shares of the open-source software company’s stock valued at $174,000 after buying an additional 1,333 shares in the last quarter. Hills Bank & Trust Co. bought a new position in shares of Red Hat during the second quarter valued at approximately $222,000. Pacer Advisors Inc. increased its position in shares of Red Hat by 10.8% in the second quarter. Pacer Advisors Inc. now owns 3,392 shares of the open-source software company’s stock valued at $246,000 after buying an additional 331 shares during the last quarter. Finally, Wall Street Associates bought a new position in shares of Red Hat during the second quarter valued at approximately $247,000. Institutional investors and hedge funds 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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