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.
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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.
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