Red Hat Inc. (NYSE:RHT)‘s stock had its “buy” rating reaffirmed by Mizuho in a report issued on Wednesday.

Several other research analysts have also commented on the stock. Vetr upgraded shares of Red Hat from a “buy” rating to a “strong-buy” rating and set a $81.54 price objective for the company in a report on Thursday, September 8th. Jefferies Group restated a “hold” rating and issued a $75.00 price objective on shares of Red Hat in a report on Saturday, June 25th. Deutsche Bank AG restated a “buy” rating on shares of Red Hat in a report on Friday, June 17th. Barclays PLC reiterated a “buy” rating and issued a $90.00 price target on shares of Red Hat in a research note on Thursday, September 15th. Finally, Morgan Stanley lowered shares of Red Hat from an “overweight” rating to an “equal weight” rating and increased their price target for the stock from $72.18 to $80.00 in a research note on Thursday, July 7th. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Red Hat currently has an average rating of “Buy” and an average target price of $87.69.

Analyst Recommendations for Red Hat (NYSE:RHT)

Red Hat (NYSE:RHT) traded up 1.06% on Wednesday, reaching $76.58. 1,177,843 shares of the company traded hands. The stock’s 50 day moving average price is $73.96 and its 200 day moving average price is $74.09. Red Hat has a one year low of $59.59 and a one year high of $84.44. The company has a market capitalization of $13.87 billion, a PE ratio of 67.18 and a beta of 1.32.

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In related news, EVP Michael Cunningham sold 10,000 shares of the firm’s stock in a transaction on Tuesday, July 26th. The shares were sold at an average price of $75.00, for a total value of $750,000.00. Following the completion of the transaction, the executive vice president now directly owns 52,484 shares of the company’s stock, valued at $3,936,300. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Delisa Alexander sold 2,395 shares of the firm’s stock in a transaction on Tuesday, July 19th. The shares were sold at an average price of $72.83, for a total transaction of $174,427.85. Following the completion of the transaction, the executive vice president now directly owns 60,780 shares of the company’s stock, valued at $4,426,607.40. The disclosure for this sale can be found here. 0.76% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in Red Hat by 1.4% in the second quarter. Vanguard Group Inc. now owns 16,090,395 shares of the open-source software company’s stock worth $1,168,163,000 after buying an additional 217,476 shares during the period. FMR LLC raised its position in Red Hat by 5.1% in the second quarter. FMR LLC now owns 11,463,375 shares of the open-source software company’s stock valued at $832,240,000 after buying an additional 558,296 shares during the last quarter. BlackRock Institutional Trust Company N.A. raised its position in Red Hat by 2.4% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 4,695,624 shares of the open-source software company’s stock valued at $349,871,000 after buying an additional 109,046 shares during the last quarter. William Blair Investment Management LLC raised its position in Red Hat by 9.6% in the second quarter. William Blair Investment Management LLC now owns 2,925,029 shares of the open-source software company’s stock valued at $212,357,000 after buying an additional 255,220 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in Red Hat by 3.6% in the first quarter. Geode Capital Management LLC now owns 1,474,178 shares of the open-source software company’s stock valued at $109,614,000 after buying an additional 50,686 shares during the last quarter. 94.81% of the stock is owned by hedge funds and other institutional investors.

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.

5 Day Chart for NYSE:RHT

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