Investors Sell Red Hat (RHT) on Strength (RHT)
Traders sold shares of Red Hat Inc (NYSE:RHT) on strength during trading on Thursday. $62.47 million flowed into the stock on the tick-up and $113.00 million flowed out of the stock on the tick-down, for a money net flow of $50.53 million out of the stock. Of all equities tracked, Red Hat had the 0th highest net out-flow for the day. Red Hat traded up $0.01 for the day and closed at $173.64
RHT has been the subject of a number of analyst reports. OTR Global cut Red Hat to a “positive” rating in a research note on Thursday, September 13th. Nomura cut Red Hat from a “buy” rating to a “hold” rating and boosted their target price for the company from $175.00 to $190.00 in a research note on Tuesday, October 30th. JPMorgan Chase & Co. cut Red Hat from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $160.00 to $150.00 in a research note on Tuesday, September 18th. Jefferies Financial Group decreased their target price on Red Hat from $154.00 to $140.00 and set a “hold” rating for the company in a research note on Friday, September 21st. Finally, KeyCorp decreased their target price on Red Hat from $184.00 to $180.00 and set an “overweight” rating for the company in a research note on Thursday, September 20th. One equities research analyst has rated the stock with a sell rating, sixteen have given a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. Red Hat currently has a consensus rating of “Hold” and a consensus target price of $163.48.
The firm has a market cap of $30.55 billion, a P/E ratio of 75.54, a PEG ratio of 4.51 and a beta of 0.71. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 0.40.
In other news, EVP Delisa Alexander sold 960 shares of the business’s stock in a transaction dated Wednesday, October 17th. The stock was sold at an average price of $125.03, for a total value of $120,028.80. Following the sale, the executive vice president now directly owns 33,217 shares in the company, valued at $4,153,121.51. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO James M. Whitehurst sold 2,513 shares of the business’s stock in a transaction dated Wednesday, October 17th. The shares were sold at an average price of $125.03, for a total value of $314,200.39. Following the completion of the sale, the chief executive officer now owns 361,627 shares in the company, valued at $45,214,223.81. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 3,631 shares of company stock worth $453,984. Corporate insiders own 0.58% of the company’s stock.
Several institutional investors have recently modified their holdings of the company. Migdal Insurance & Financial Holdings Ltd. raised its holdings in Red Hat by 16,350.0% during the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 987 shares of the open-source software company’s stock worth $133,000 after acquiring an additional 981 shares in the last quarter. Quad Cities Investment Group LLC acquired a new position in shares of Red Hat in the second quarter valued at approximately $134,000. Truvestments Capital LLC acquired a new position in shares of Red Hat in the third quarter valued at approximately $138,000. Financial Architects Inc grew its position in shares of Red Hat by 95.2% in the second quarter. Financial Architects Inc now owns 1,025 shares of the open-source software company’s stock valued at $137,000 after purchasing an additional 500 shares during the last quarter. Finally, Stratos Wealth Partners LTD. acquired a new position in shares of Red Hat in the third quarter valued at approximately $146,000. Institutional investors own 95.77% of the company’s stock.
About Red Hat (NYSE:RHT)
Red Hat, Inc provides open source software solutions to develop and offer operating system, virtualization, management, middleware, cloud, mobile, and storage technologies to various enterprises worldwide. It offers infrastructure-related solutions, such as Red Hat Enterprise Linux, an operating system platform that runs on hardware for use in hybrid cloud environments; Red Hat Satellite, a system management offering that helps to deploy, scale, and manage in hybrid cloud environments; and Red Hat Enterprise Virtualization, a software solution that allows customers to utilize and manage a common hardware infrastructure to run multiple operating systems and applications.
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