Vetr upgraded shares of Red Hat Inc. (NYSE:RHT) from a buy rating to a strong-buy rating in a research note issued to investors on Wednesday morning. They currently have $81.54 price objective on the open-source software company’s stock.

Several other equities research analysts also recently commented on RHT. Oppenheimer Holdings Inc. reaffirmed a buy rating and set a $88.00 target price on shares of Red Hat in a report on Monday, June 6th. Barclays PLC reaffirmed an overweight rating and set a $90.00 target price on shares of Red Hat in a report on Wednesday, June 15th. Royal Bank Of Canada reaffirmed a buy rating on shares of Red Hat in a report on Thursday, June 16th. Deutsche Bank AG reaffirmed a buy rating on shares of Red Hat in a report on Friday, June 17th. Finally, Drexel Hamilton reaffirmed a buy rating and set a $105.00 target price on shares of Red Hat in a report on Monday, June 20th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of Buy and a consensus target price of $87.69.

Shares of Red Hat (NYSE:RHT) opened at 75.94 on Wednesday. Red Hat has a one year low of $59.59 and a one year high of $84.44. The stock has a market cap of $13.75 billion, a PE ratio of 66.61 and a beta of 1.32. The stock’s 50 day moving average price is $73.93 and its 200-day moving average price is $74.03.

In related news, EVP Michael Cunningham sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 26th. The stock was sold at an average price of $75.00, for a total value of $750,000.00. Following the completion of the sale, the executive vice president now directly owns 52,484 shares in the company, valued at $3,936,300. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Delisa Alexander sold 2,395 shares of the business’s stock in a transaction that occurred on Tuesday, July 19th. The shares were sold at an average price of $72.83, for a total value of $174,427.85. Following the completion of the sale, the executive vice president now owns 60,780 shares of the company’s stock, valued at $4,426,607.40. The disclosure for this sale can be found here. 0.76% of the stock is owned by corporate insiders.

Several large investors have recently modified their holdings of RHT. Mn Services Vermogensbeheer B.V. boosted its stake in shares of Red Hat by 1.5% in the second quarter. Mn Services Vermogensbeheer B.V. now owns 4,614 shares of the open-source software company’s stock valued at $302,000 after buying an additional 67 shares during the period. Utah Retirement Systems boosted its stake in shares of Red Hat by 0.3% in the second quarter. Utah Retirement Systems now owns 33,076 shares of the open-source software company’s stock valued at $2,402,000 after buying an additional 100 shares during the period. Oppenheimer & Co. Inc. boosted its stake in shares of Red Hat by 0.3% in the second quarter. Oppenheimer & Co. Inc. now owns 33,543 shares of the open-source software company’s stock valued at $2,435,000 after buying an additional 109 shares during the period. World Asset Management Inc boosted its stake in shares of Red Hat by 0.7% in the second quarter. World Asset Management Inc now owns 17,270 shares of the open-source software company’s stock valued at $1,254,000 after buying an additional 112 shares during the period. Finally, Globeflex Capital L P boosted its stake in shares of Red Hat by 1.8% in the second quarter. Globeflex Capital L P now owns 6,201 shares of the open-source software company’s stock valued at $450,000 after buying an additional 112 shares during the period. Institutional investors and hedge funds own 95.22% 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.

5 Day Chart for NYSE:RHT

To view Vetr’s full report, visit Vetr’s official website.

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