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

RHT has been the subject of a number of other research reports. Vetr raised shares of Red Hat from a “buy” rating to a “strong-buy” rating and set a $81.54 target price for the company in a report on Thursday, September 8th. Deutsche Bank AG reissued a “buy” rating and issued a $95.00 price objective on shares of Red Hat in a report on Saturday, August 13th. Oppenheimer Holdings Inc. reissued a “buy” rating and issued a $88.00 price objective on shares of Red Hat in a report on Monday, June 6th. Royal Bank Of Canada reissued a “buy” rating on shares of Red Hat in a report on Thursday, June 16th. Finally, Jefferies Group reissued a “hold” rating and issued a $75.00 price objective on shares of Red Hat in a report on Saturday, June 25th. Two investment 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 given a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $87.69.

Analyst Recommendations for Red Hat (NYSE:RHT)

Red Hat (NYSE:RHT) traded up 0.66% during trading on Wednesday, reaching $76.28. 1,087,597 shares of the company traded hands. The firm has a 50-day moving average price of $73.96 and a 200-day moving average price of $74.09. Red Hat has a 52 week low of $59.59 and a 52 week high of $84.44. The company has a market capitalization of $13.81 billion, a P/E ratio of 66.91 and a beta of 1.32.

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In other Red Hat news, EVP Delisa Alexander sold 2,395 shares of the firm’s stock in a transaction on Tuesday, July 19th. The stock was sold at an average price of $72.83, for a total value of $174,427.85. Following the completion of the sale, the executive vice president now owns 60,780 shares of the company’s stock, valued at $4,426,607.40. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, 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 sale, the executive vice president now directly owns 52,484 shares of the company’s stock, valued at approximately $3,936,300. The disclosure for this sale can be found here. Corporate insiders own 0.76% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the stock. Davis R M Inc. increased its stake in Red Hat by 11.1% in the second quarter. Davis R M Inc. now owns 383,649 shares of the open-source software company’s stock worth $27,853,000 after buying an additional 38,418 shares during the period. Geode Capital Management LLC increased its stake 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 worth $109,614,000 after buying an additional 50,686 shares during the period. Arrowgrass Capital Partners US LP increased its stake in Red Hat by 2.0% in the first quarter. Arrowgrass Capital Partners US LP now owns 1,011,328 shares of the open-source software company’s stock worth $75,354,000 after buying an additional 19,873 shares during the period. Nomura Holdings Inc. increased its stake in Red Hat by 21.6% in the second quarter. Nomura Holdings Inc. now owns 171,951 shares of the open-source software company’s stock worth $12,480,000 after buying an additional 30,498 shares during the period. Finally, AMP Capital Investors Ltd increased its stake in Red Hat by 22.4% in the first quarter. AMP Capital Investors Ltd now owns 82,424 shares of the open-source software company’s stock worth $6,102,000 after buying an additional 15,072 shares during the period. 94.81% of the stock is owned by institutional investors.

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.

5 Day Chart for NYSE:RHT

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