Red Hat, Inc. (NYSE:RHT) was the target of some unusual options trading on Monday. Traders acquired 13,756 call options on the stock. This is an increase of 604% compared to the typical volume of 1,955 call options.

In other news, CEO James M. Whitehurst sold 12,000 shares of the stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $95.70, for a total value of $1,148,400.00. Following the completion of the sale, the chief executive officer now directly owns 422,873 shares of the company’s stock, valued at $40,468,946.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Eric Ryan Shander sold 1,521 shares of the stock in a transaction that occurred on Wednesday, July 26th. The shares were sold at an average price of $99.98, for a total value of $152,069.58. Following the completion of the sale, the chief financial officer now directly owns 9,913 shares of the company’s stock, valued at $991,101.74. The disclosure for this sale can be found here. Insiders sold 44,087 shares of company stock valued at $4,265,012 over the last three months. Corporate insiders own 0.66% of the company’s stock.

Several institutional investors have recently made changes to their positions in RHT. FMR LLC raised its position in shares of Red Hat by 10.8% during the second quarter. FMR LLC now owns 11,165,642 shares of the open-source software company’s stock worth $1,069,110,000 after purchasing an additional 1,085,953 shares during the period. Jericho Capital Asset Management L.P. acquired a new stake in shares of Red Hat during the first quarter worth $92,816,000. Arrowstreet Capital Limited Partnership raised its position in shares of Red Hat by 282.6% during the second quarter. Arrowstreet Capital Limited Partnership now owns 1,177,208 shares of the open-source software company’s stock worth $112,718,000 after purchasing an additional 869,550 shares during the period. Northern Trust Corp raised its position in shares of Red Hat by 28.8% during the second quarter. Northern Trust Corp now owns 3,794,946 shares of the open-source software company’s stock worth $363,365,000 after purchasing an additional 848,777 shares during the period. Finally, MARSHALL WACE ASIA Ltd acquired a new stake in shares of Red Hat during the first quarter worth $61,821,000. 94.00% of the stock is currently owned by institutional investors.

Shares of Red Hat (RHT) opened at 109.92 on Thursday. Red Hat has a 52-week low of $68.54 and a 52-week high of $111.23. The stock has a market cap of $19.51 billion, a PE ratio of 75.29 and a beta of 1.24. The company’s 50-day moving average price is $103.43 and its 200-day moving average price is $93.28.

Red Hat (NYSE:RHT) last announced its earnings results on Monday, September 25th. The open-source software company reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.67 by $0.10. The company had revenue of $723.60 million for the quarter, compared to analyst estimates of $699.56 million. Red Hat had a return on equity of 25.89% and a net margin of 11.49%. Red Hat’s revenue for the quarter was up 20.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.55 earnings per share. Analysts expect that Red Hat will post $2.79 earnings per share for the current year.

Several equities research analysts recently weighed in on the company. Zacks Investment Research downgraded Red Hat from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 22nd. Drexel Hamilton reaffirmed a “buy” rating and set a $127.00 price target (up from $110.00) on shares of Red Hat in a report on Wednesday, June 21st. Piper Jaffray Companies reaffirmed a “hold” rating and set a $100.00 price target on shares of Red Hat in a report on Sunday, August 27th. Credit Suisse Group assumed coverage on Red Hat in a report on Tuesday, September 5th. They set a “neutral” rating and a $111.00 price target for the company. Finally, KeyCorp reaffirmed an “overweight” rating and set a $121.00 price target on shares of Red Hat in a report on Friday, September 8th. 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 presently has a consensus rating of “Buy” and a consensus price target of $110.61.

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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.

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