Red Hat, Inc. (NYSE:RHT) insider Michael A. Kelly sold 2,888 shares of Red Hat stock in a transaction dated Wednesday, October 18th. The stock was sold at an average price of $121.03, for a total value of $349,534.64. Following the completion of the sale, the insider now directly owns 8,751 shares of the company’s stock, valued at approximately $1,059,133.53. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Shares of Red Hat, Inc. (RHT) traded up 0.75% during mid-day trading on Thursday, reaching $121.60. The company’s stock had a trading volume of 1,233,377 shares. Red Hat, Inc. has a 52-week low of $68.54 and a 52-week high of $122.31. The company has a 50-day moving average price of $111.33 and a 200 day moving average price of $97.84. The company has a market cap of $21.52 billion, a PE ratio of 72.77 and a beta of 1.25.

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, beating the consensus estimate of $0.67 by $0.10. The business had revenue of $723.60 million during the quarter, compared to analyst estimates of $699.56 million. Red Hat had a return on equity of 25.27% and a net margin of 11.49%. The company’s revenue for the quarter was up 20.6% on a year-over-year basis. During the same period last year, the company earned $0.55 EPS. Equities analysts expect that Red Hat, Inc. will post $2.79 earnings per share for the current year.

TRADEMARK VIOLATION NOTICE: This piece of content was first reported by American Banking News and is the property of of American Banking News. If you are reading this piece of content on another publication, it was copied illegally and reposted in violation of US and international copyright & trademark law. The original version of this piece of content can be read at https://www.americanbankingnews.com/2017/10/19/michael-a-kelly-sells-2888-shares-of-red-hat-inc-rht-stock.html.

Large investors have recently bought and sold shares of the company. D.A. Davidson & CO. lifted its stake in shares of Red Hat by 6.8% during the 2nd quarter. D.A. Davidson & CO. now owns 1,071 shares of the open-source software company’s stock worth $102,000 after acquiring an additional 68 shares during the last quarter. Clear Perspective Advisors LLC bought a new stake in shares of Red Hat during the 2nd quarter worth approximately $112,000. Sun Life Financial INC lifted its stake in shares of Red Hat by 14,837.5% during the 2nd quarter. Sun Life Financial INC now owns 1,195 shares of the open-source software company’s stock worth $114,000 after acquiring an additional 1,187 shares during the last quarter. Shine Investment Advisory Services Inc. bought a new stake in shares of Red Hat during the 2nd quarter worth approximately $117,000. Finally, State of Alaska Department of Revenue bought a new stake in shares of Red Hat during the 2nd quarter worth approximately $122,000. 94.01% of the stock is owned by institutional investors and hedge funds.

RHT has been the subject of several recent research reports. Stifel Nicolaus raised Red Hat from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $83.00 to $115.00 in a report on Wednesday, June 21st. BMO Capital Markets lifted their price objective on Red Hat from $90.00 to $107.00 and gave the stock a “market perform” rating in a report on Wednesday, June 21st. Robert W. Baird lifted their price objective on Red Hat from $90.00 to $100.00 and gave the stock a “neutral” rating in a report on Wednesday, June 21st. Pacific Crest decreased their price objective on Red Hat from $115.00 to $97.00 and set an “overweight” rating for the company in a report on Wednesday, June 21st. Finally, BTIG Research decreased their price objective on Red Hat from $120.00 to $95.00 and set a “buy” rating for the company in a report on Wednesday, June 21st. Ten equities research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company’s stock. The stock 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.

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

Receive News & Ratings for Red Hat Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Red Hat Inc. and related companies with MarketBeat.com's FREE daily email newsletter.