Share on StockTwits

Red Hat (NYSE:RHT) EVP Delisa Alexander unloaded 1,346 shares of the stock on the open market in a transaction dated Friday, January 17th. The stock was sold at an average price of $58.89, for a total value of $79,265.94. Following the completion of the sale, the executive vice president now directly owns 53,893 shares of the company’s stock, valued at approximately $3,173,759. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

RHT has been the subject of a number of recent research reports. Analysts at JMP Securities initiated coverage on shares of Red Hat in a research note to investors on Tuesday, January 14th. They set an “outperform” rating and a $68.00 price target on the stock. Separately, analysts at Morgan Stanley upgraded shares of Red Hat from an “equal weight” rating to an “overweight” rating in a research note to investors on Monday, January 13th. They now have a $69.00 price target on the stock. Finally, analysts at Jefferson Research downgraded shares of Red Hat from a “buy” rating to a “hold” rating in a research note to investors on Friday, January 10th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and twenty have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $58.66.

Shares of Red Hat (NYSE:RHT) traded up 0.94% during mid-day trading on Tuesday, hitting $59.14. 1,553,888 shares of the company’s stock traded hands. Red Hat has a one year low of $41.89 and a one year high of $59.94. The stock has a 50-day moving average of $52.61 and a 200-day moving average of $49.30. The company has a market cap of $11.209 billion and a P/E ratio of 64.38.

Red Hat (NYSE:RHT) last issued its quarterly earnings data on Thursday, December 19th. The company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.07. The company had revenue of $397.00 million for the quarter, compared to the consensus estimate of $383.13 million. During the same quarter last year, the company posted $0.29 earnings per share. Red Hat’s revenue was up 15.4% compared to the same quarter last year. On average, analysts predict that Red Hat will post $1.47 earnings per share for the current fiscal year.

Red Hat, Inc (NYSE:RHT) is engaged in providing open source software solutions to the enterprise, including its Red Hat Enterprise Linux and JBoss Enterprise Middleware.

Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.