Red Hat, Inc. (RHT) EVP Sells $129,146.28 in Stock

Red Hat, Inc. (NYSE:RHT) EVP Delisa Alexander sold 1,073 shares of the business’s stock in a transaction that occurred on Tuesday, October 17th. The stock was sold at an average price of $120.36, for a total value of $129,146.28. Following the sale, the executive vice president now owns 38,150 shares of the company’s stock, valued at $4,591,734. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Red Hat, Inc. (NYSE RHT) traded up 0.40% during trading on Friday, reaching $120.77. The company had a trading volume of 1,049,584 shares. Red Hat, Inc. has a 52-week low of $68.54 and a 52-week high of $122.95. The company has a market capitalization of $21.37 billion, a PE ratio of 72.27 and a beta of 1.25. The stock has a 50 day moving average price of $113.21 and a 200-day moving average price of $99.13.



Red Hat (NYSE:RHT) last posted its quarterly earnings data on Monday, September 25th. The open-source software company reported $0.77 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.67 by $0.10. The business had revenue of $723.60 million during the quarter, compared to the consensus estimate of $699.56 million. Red Hat had a net margin of 11.49% and a return on equity of 25.27%. Red Hat’s quarterly revenue was up 20.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.55 EPS. On average, equities research analysts anticipate that Red Hat, Inc. will post $2.79 earnings per share for the current fiscal year.

ILLEGAL ACTIVITY NOTICE: “Red Hat, Inc. (RHT) EVP Sells $129,146.28 in Stock” was published by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are reading this piece on another publication, it was copied illegally and republished in violation of U.S. & international trademark and copyright legislation. The legal version of this piece can be viewed at https://www.dispatchtribunal.com/2017/10/27/insider-selling-red-hat-inc-rht-evp-sells-1073-shares-of-stock.html.

A number of institutional investors have recently modified their holdings of RHT. FMR LLC boosted its holdings in Red Hat by 10.8% in the 2nd quarter. FMR LLC now owns 11,165,642 shares of the open-source software company’s stock valued at $1,069,110,000 after purchasing an additional 1,085,953 shares during the period. Jericho Capital Asset Management L.P. bought a new stake in Red Hat in the 1st quarter valued at $92,816,000. Swedbank bought a new stake in Red Hat in the 3rd quarter valued at $115,424,000. Arrowstreet Capital Limited Partnership boosted its holdings in Red Hat by 282.6% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 1,177,208 shares of the open-source software company’s stock valued at $112,718,000 after purchasing an additional 869,550 shares during the period. Finally, Northern Trust Corp boosted its holdings in Red Hat by 28.8% in the 2nd quarter. Northern Trust Corp now owns 3,794,946 shares of the open-source software company’s stock valued at $363,365,000 after purchasing an additional 848,777 shares during the period. 94.08% of the stock is owned by hedge funds and other institutional investors.

A number of equities research analysts have recently issued reports on RHT shares. Barclays PLC upped their price target on Red Hat from $105.00 to $120.00 and gave the company an “overweight” rating in a research report on Monday, September 18th. Bank of America Corporation restated a “neutral” rating and issued a $115.00 price target (up from $105.00) on shares of Red Hat in a research report on Tuesday, September 26th. Wells Fargo & Company restated an “outperform” rating and issued a $124.00 price target (up from $120.00) on shares of Red Hat in a research report on Wednesday, September 27th. Credit Suisse Group restated a “neutral” rating and issued a $113.00 price target (up from $111.00) on shares of Red Hat in a research report on Tuesday, September 26th. Finally, Zacks Investment Research lowered Red Hat from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 22nd. One research analyst has rated the stock with a sell rating, nine have given a hold rating and twenty-four have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price 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.

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

Receive News & Ratings for Red Hat Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Red Hat Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply