Michael A. Kelly Sells 2,888 Shares of Red Hat, Inc. (RHT) Stock
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.
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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.
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