General Henry Hugh Shelton Sells 15,000 Shares of Red Hat Inc. (RHT) Stock
Red Hat Inc. (NYSE:RHT) Director General Henry Hugh Shelton sold 15,000 shares of the company’s stock in a transaction dated Friday, September 30th. The shares were sold at an average price of $80.70, for a total value of $1,210,500.00. Following the transaction, the director now directly owns 9,026 shares in the company, valued at $728,398.20. The sale was disclosed in a filing with the SEC, which is available through this link.
Shares of Red Hat Inc. (NYSE:RHT) opened at 79.65 on Wednesday. Red Hat Inc. has a 1-year low of $59.59 and a 1-year high of $84.44. The firm’s 50-day moving average price is $75.40 and its 200 day moving average price is $74.71. The firm has a market cap of $14.36 billion, a PE ratio of 66.99 and a beta of 1.52.
Red Hat (NYSE:RHT) last announced its quarterly earnings data on Wednesday, September 21st. The open-source software company reported $0.55 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.54 by $0.01. Red Hat had a return on equity of 18.93% and a net margin of 9.84%. The company had revenue of $599.80 million for the quarter. During the same period in the prior year, the firm posted $0.47 EPS. Red Hat’s revenue for the quarter was up 19.0% compared to the same quarter last year. On average, equities research analysts forecast that Red Hat Inc. will post $2.24 EPS for the current fiscal year.
RHT has been the topic of several recent analyst reports. Zacks Investment Research lowered Red Hat from a “buy” rating to a “hold” rating in a research report on Thursday, September 29th. Vetr raised Red Hat from a “buy” rating to a “strong-buy” rating and set a $81.54 target price on the stock in a research report on Thursday, September 8th. Mizuho reaffirmed a “buy” rating and set a $88.00 target price on shares of Red Hat in a research report on Wednesday, September 14th. Bank of America Corp. reaffirmed a “hold” rating and set a $90.00 target price on shares of Red Hat in a research report on Thursday, September 22nd. Finally, 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. One research analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-four have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $89.33.
Large investors have recently made changes to their positions in the stock. Wunderlich Capital Managemnt acquired a new stake in shares of Red Hat during the second quarter worth $137,000. Mizuho Asset Management Co. Ltd. raised its stake in shares of Red Hat by 125.8% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 2,393 shares of the open-source software company’s stock valued at $174,000 after buying an additional 1,333 shares during the period. Hills Bank & Trust Co. purchased a new stake in shares of Red Hat during the second quarter valued at approximately $222,000. Pacer Advisors Inc. raised its stake in shares of Red Hat by 10.8% in the second quarter. Pacer Advisors Inc. now owns 3,392 shares of the open-source software company’s stock valued at $246,000 after buying an additional 331 shares during the period. Finally, Wall Street Associates purchased a new stake in shares of Red Hat during the second quarter valued at approximately $247,000. 94.81% of the stock is currently 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.
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