Paul J. Cormier Sells 26,462 Shares of Red Hat, Inc. (RHT) Stock

Red Hat, Inc. (NYSE:RHT) EVP Paul J. Cormier sold 26,462 shares of the firm’s stock in a transaction that occurred on Thursday, June 8th. The stock was sold at an average price of $91.57, for a total transaction of $2,423,125.34. Following the sale, the executive vice president now owns 189,578 shares of the company’s stock, valued at approximately $17,359,657.46. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

Shares of Red Hat, Inc. (NYSE RHT) opened at 88.72 on Tuesday. Red Hat, Inc. has a 52 week low of $68.54 and a 52 week high of $92.49. The firm has a market capitalization of $15.77 billion, a price-to-earnings ratio of 63.83 and a beta of 1.30. The company’s 50-day moving average is $88.73 and its 200 day moving average is $82.00.

Red Hat (NYSE:RHT) last issued its earnings results on Monday, March 27th. The open-source software company reported $0.61 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.61. The company had revenue of $628.80 million for the quarter, compared to analysts’ expectations of $618.64 million. Red Hat had a net margin of 10.52% and a return on equity of 22.04%. The firm’s revenue was up 15.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.52 earnings per share. Analysts anticipate that Red Hat, Inc. will post $2.63 EPS for the current fiscal year.

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

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A number of brokerages have recently issued reports on RHT. Oppenheimer Holdings, Inc. restated an “outperform” rating and set a $96.00 price target (up previously from $94.00) on shares of Red Hat in a report on Wednesday, May 10th. Drexel Hamilton increased their price objective on shares of Red Hat to $110.00 in a research report on Tuesday, March 28th. Stifel Nicolaus reaffirmed a “hold” rating and set a $83.00 price objective (up previously from $70.00) on shares of Red Hat in a research report on Tuesday, March 28th. BMO Capital Markets increased their price objective on shares of Red Hat from $75.00 to $90.00 and gave the stock a “market perform” rating in a research report on Tuesday, March 28th. Finally, Goldman Sachs Group, Inc. (The) increased their price objective on shares of Red Hat from $72.00 to $80.00 and gave the stock a “sell” rating in a research report on Tuesday, March 28th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and twenty-one have given a buy rating to the stock. Red Hat has an average rating of “Buy” and an average price target of $91.51.

Hedge funds have recently modified their holdings of the company. TCW Group Inc. boosted its stake in Red Hat by 13.8% in the fourth quarter. TCW Group Inc. now owns 20,119 shares of the open-source software company’s stock worth $1,402,000 after buying an additional 2,438 shares during the period. Oxford Asset Management boosted its position in Red Hat by 51.4% in the fourth quarter. Oxford Asset Management now owns 28,433 shares of the open-source software company’s stock valued at $1,982,000 after buying an additional 9,655 shares during the last quarter. Comerica Bank boosted its position in Red Hat by 2.3% in the fourth quarter. Comerica Bank now owns 103,173 shares of the open-source software company’s stock valued at $7,569,000 after buying an additional 2,335 shares during the last quarter. Bessemer Group Inc. boosted its position in Red Hat by 55.2% in the fourth quarter. Bessemer Group Inc. now owns 3,687 shares of the open-source software company’s stock valued at $257,000 after buying an additional 1,311 shares during the last quarter. Finally, ETRADE Capital Management LLC boosted its position in Red Hat by 71.7% in the third quarter. ETRADE Capital Management LLC now owns 7,047 shares of the open-source software company’s stock valued at $570,000 after buying an additional 2,942 shares during the last quarter. 95.41% of the stock is currently owned by institutional investors.

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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “RHT”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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