Deutsche Bank AG reaffirmed their buy rating on shares of Red Hat, Inc. (NYSE:RHT) in a report issued on Monday. Deutsche Bank AG currently has a $130.00 price target on the open-source software company’s stock.

RHT has been the topic of a number of other reports. Robert W. Baird increased their price objective on shares of Red Hat from $90.00 to $100.00 and gave the company a neutral rating in a research note on Wednesday, June 21st. Mizuho reduced their price objective on shares of Red Hat from $109.00 to $96.00 and set a buy rating for the company in a research note on Wednesday, June 21st. Wells Fargo & Company reissued an outperform rating and issued a $120.00 price objective (up previously from $115.00) on shares of Red Hat in a research note on Tuesday, September 19th. Jefferies Group LLC upped their target price on Red Hat to $100.00 and gave the stock a hold rating in a report on Tuesday, September 26th. Finally, Morgan Stanley restated an equal weight rating and set a $98.00 target price (down previously from $120.00) on shares of Red Hat in a report on Tuesday, September 26th. Ten research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the stock. The stock has a consensus rating of Buy and an average price target of $110.93.

Red Hat (NYSE:RHT) opened at 112.18 on Monday. The company has a 50 day moving average of $106.14 and a 200 day moving average of $94.99. The company has a market capitalization of $19.91 billion, a price-to-earnings ratio of 76.84 and a beta of 1.25. Red Hat has a 52 week low of $68.54 and a 52 week high of $112.67.

Red Hat (NYSE:RHT) last released its quarterly earnings data on Monday, September 25th. The open-source software company reported $0.77 earnings per share for the quarter, topping the Zacks’ consensus estimate 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 in the prior year, the firm earned $0.55 earnings per share. The firm’s revenue for the quarter was up 20.6% compared to the same quarter last year. On average, equities analysts forecast that Red Hat will post $2.78 EPS for the current fiscal year.

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In other news, EVP Michael Cunningham sold 4,000 shares of the stock in a transaction dated Friday, July 7th. The shares were sold at an average price of $96.59, for a total transaction of $386,360.00. Following the sale, the executive vice president now directly owns 30,050 shares of the company’s stock, valued at approximately $2,902,529.50. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director William S. Kaiser sold 10,994 shares of the stock in a transaction dated Friday, July 7th. The stock was sold at an average price of $96.20, for a total transaction of $1,057,622.80. Following the sale, the director now directly owns 80,814 shares in the company, valued at $7,774,306.80. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 28,081 shares of company stock worth $2,730,314. 0.66% of the stock is owned by company insiders.

Several institutional investors have recently made changes to their positions in RHT. D.A. Davidson & CO. raised its holdings in Red Hat by 6.8% in the 2nd quarter. D.A. Davidson & CO. now owns 1,071 shares of the open-source software company’s stock worth $102,000 after purchasing an additional 68 shares during the period. Nordea Investment Management AB boosted its position in Red Hat by 1.0% during the first quarter. Nordea Investment Management AB now owns 6,919 shares of the open-source software company’s stock worth $598,000 after purchasing an additional 70 shares in the last quarter. Advantus Capital Management Inc boosted its position in Red Hat by 0.5% during the first quarter. Advantus Capital Management Inc now owns 17,955 shares of the open-source software company’s stock worth $1,553,000 after purchasing an additional 93 shares in the last quarter. Gyroscope Capital Management Group LLC boosted its position in Red Hat by 4.0% during the second quarter. Gyroscope Capital Management Group LLC now owns 2,429 shares of the open-source software company’s stock worth $233,000 after purchasing an additional 93 shares in the last quarter. Finally, RB Capital Management LLC boosted its position in Red Hat by 2.6% during the second quarter. RB Capital Management LLC now owns 3,875 shares of the open-source software company’s stock worth $371,000 after purchasing an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 94.03% 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.

Analyst Recommendations for Red Hat (NYSE:RHT)

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