Insider Selling: Red Hat, Inc. (RHT) EVP Sells 1,073 Shares of Stock
Red Hat, Inc. (NYSE:RHT) EVP Delisa Alexander sold 1,073 shares of the firm’s stock in a transaction on Tuesday, October 17th. The stock was sold at an average price of $120.36, for a total transaction of $129,146.28. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.
Shares of Red Hat, Inc. (RHT) traded down 0.36% during trading on Wednesday, hitting $120.69. 1,074,395 shares of the stock traded hands. The stock has a 50-day moving average of $110.14 and a 200 day moving average of $97.17. Red Hat, Inc. has a 1-year low of $68.54 and a 1-year high of $122.31. The company has a market cap of $21.36 billion, a P/E ratio of 72.23 and a beta of 1.25.
Red Hat (NYSE:RHT) last released its quarterly earnings data on Monday, September 25th. The open-source software company reported $0.77 EPS for the quarter, beating analysts’ consensus estimates of $0.67 by $0.10. Red Hat had a net margin of 11.49% and a return on equity of 25.27%. The company had revenue of $723.60 million during the quarter, compared to analyst estimates of $699.56 million. During the same period last year, the business earned $0.55 earnings per share. Red Hat’s revenue was up 20.6% compared to the same quarter last year. On average, equities research analysts predict that Red Hat, Inc. will post $2.79 EPS for the current fiscal year.
Institutional investors have recently made changes to their positions in the business. D.A. Davidson & CO. lifted its position in Red Hat by 6.8% during the second quarter. D.A. Davidson & CO. now owns 1,071 shares of the open-source software company’s stock valued at $102,000 after purchasing an additional 68 shares during the last quarter. Clear Perspective Advisors LLC bought a new stake in Red Hat during the second quarter valued at approximately $112,000. Sun Life Financial INC lifted its position in Red Hat by 14,837.5% during the second quarter. Sun Life Financial INC now owns 1,195 shares of the open-source software company’s stock valued at $114,000 after purchasing an additional 1,187 shares during the last quarter. Shine Investment Advisory Services Inc. bought a new stake in Red Hat during the second quarter valued at approximately $117,000. Finally, State of Alaska Department of Revenue bought a new stake in Red Hat during the second quarter valued at approximately $122,000. Institutional investors and hedge funds own 94.01% of the company’s stock.
A number of brokerages recently commented on RHT. J P Morgan Chase & Co restated an “overweight” rating and set a $117.00 price objective (up from $110.00) on shares of Red Hat in a report on Tuesday, September 26th. Drexel Hamilton restated a “buy” rating and set a $127.00 price objective on shares of Red Hat in a report on Tuesday, September 19th. KeyCorp restated an “overweight” rating and set a $125.00 price objective (up from $121.00) on shares of Red Hat in a report on Tuesday, September 26th. Sanford C. Bernstein reiterated a “market perform” rating and issued a $136.00 price target (up from $115.00) on shares of Red Hat in a research note on Tuesday, September 26th. Finally, Deutsche Bank AG lifted their price target on shares of Red Hat from $100.00 to $110.00 and gave the company a “buy” rating in a research note on Wednesday, June 21st. Ten analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $110.93.
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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