Red Hat, Inc. (NYSE:RHT) CEO James M. Whitehurst sold 4,211 shares of the business’s stock in a transaction dated Tuesday, October 17th. The stock was sold at an average price of $120.36, for a total value of $506,835.96. The sale was disclosed in a filing with the SEC, which is available through this link.

Red Hat, Inc. (NYSE:RHT) traded down 0.36% during mid-day trading on Wednesday, reaching $120.69. The company had a trading volume of 1,074,095 shares. Red Hat, Inc. has a one year low of $68.54 and a one year high of $122.31. The firm has a market capitalization of $21.36 billion, a P/E ratio of 72.23 and a beta of 1.25. The firm’s 50-day moving average is $110.14 and its 200-day moving average is $97.17.

Red Hat (NYSE:RHT) last issued its earnings results on Monday, September 25th. The open-source software company reported $0.77 earnings per share for the quarter, topping the Zacks’ 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 return on equity of 25.27% and a net margin of 11.49%. The firm’s revenue for the quarter was up 20.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.55 earnings per share. 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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Several brokerages have weighed in on RHT. Deutsche Bank AG reissued a “buy” rating and set a $130.00 price objective on shares of Red Hat in a report on Monday, October 2nd. BTIG Research reissued a “buy” rating and set a $120.00 price objective on shares of Red Hat in a report on Wednesday, September 27th. JMP Securities boosted their price objective on Red Hat from $107.00 to $122.00 and gave the stock an “outperform” rating in a report on Wednesday, September 13th. Credit Suisse Group began coverage on Red Hat in a report on Tuesday, September 5th. They set a “neutral” rating and a $111.00 price objective for the company. Finally, Wells Fargo & Company reissued an “outperform” rating and set a $120.00 price objective (up from $115.00) on shares of Red Hat in a report on Tuesday, September 19th. Ten equities research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company’s stock. Red Hat currently has an average rating of “Buy” and an average price target of $110.93.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. D.A. Davidson & CO. increased its holdings in shares of Red Hat by 6.8% during the second quarter. D.A. Davidson & CO. now owns 1,071 shares of the open-source software company’s stock valued at $102,000 after acquiring an additional 68 shares in the last quarter. Clear Perspective Advisors LLC bought a new stake in shares of Red Hat during the second quarter valued at approximately $112,000. Sun Life Financial INC increased its holdings in shares of Red Hat by 14,837.5% during the second quarter. Sun Life Financial INC now owns 1,195 shares of the open-source software company’s stock valued at $114,000 after acquiring an additional 1,187 shares in the last quarter. Shine Investment Advisory Services Inc. bought a new stake in shares of Red Hat during the second quarter valued at approximately $117,000. Finally, State of Alaska Department of Revenue bought a new stake in shares of Red Hat during the second quarter valued at approximately $122,000. Hedge funds and other institutional investors own 94.01% of the company’s stock.

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.

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

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