Red Hat, Inc. (RHT) CEO James M. Whitehurst Sells 12,000 Shares of Stock
Red Hat, Inc. (NYSE:RHT) CEO James M. Whitehurst sold 12,000 shares of the stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $111.15, for a total transaction of $1,333,800.00. Following the sale, the chief executive officer now owns 392,979 shares of the company’s stock, valued at approximately $43,679,615.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Shares of Red Hat, Inc. (RHT) opened at 111.93 on Wednesday. The company’s 50-day moving average is $106.49 and its 200-day moving average is $95.19. Red Hat, Inc. has a 12 month low of $68.54 and a 12 month high of $112.91. The firm has a market cap of $19.86 billion, a price-to-earnings ratio of 76.66 and a beta of 1.25.
Red Hat (NYSE:RHT) last announced its earnings results on Monday, September 25th. The open-source software company reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.67 by $0.10. Red Hat had a return on equity of 25.27% and a net margin of 11.49%. The company had revenue of $723.60 million for the quarter, compared to analyst estimates of $699.56 million. During the same period in the previous year, the firm earned $0.55 earnings per share. Red Hat’s revenue for the quarter was up 20.6% compared to the same quarter last year. On average, equities research analysts forecast that Red Hat, Inc. will post $2.78 earnings per share for the current fiscal year.
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A number of hedge funds and other institutional investors have recently bought and sold shares of the business. D.A. Davidson & CO. lifted its stake 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 buying an additional 68 shares in the last quarter. Clear Perspective Advisors LLC acquired a new position in shares of Red Hat in the second quarter worth about $112,000. Sun Life Financial INC boosted its holdings in shares of Red Hat by 14,837.5% in the second quarter. Sun Life Financial INC now owns 1,195 shares of the open-source software company’s stock worth $114,000 after buying an additional 1,187 shares during the period. Shine Investment Advisory Services Inc. acquired a new position in shares of Red Hat in the second quarter worth about $117,000. Finally, State of Alaska Department of Revenue acquired a new position in shares of Red Hat in the second quarter worth about $122,000. Hedge funds and other institutional investors own 94.03% of the company’s stock.
A number of analysts have weighed in on the company. Deutsche Bank AG reaffirmed a “buy” rating and set a $120.00 price objective (up from $110.00) on shares of Red Hat in a research report on Tuesday, September 26th. Robert W. Baird boosted their target price on Red Hat from $90.00 to $100.00 and gave the company a “neutral” rating in a report on Wednesday, June 21st. Mizuho dropped their target price on Red Hat from $109.00 to $96.00 and set a “buy” rating on the stock in a report on Wednesday, June 21st. Wells Fargo & Company reissued an “outperform” rating and issued a $120.00 target price (up previously from $115.00) on shares of Red Hat in a report on Tuesday, September 19th. Finally, Jefferies Group LLC upped their price target on Red Hat to $100.00 and gave the stock a “hold” rating in a research note on Tuesday, September 26th. Ten analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $110.93.
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.
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