Delisa Alexander Sells 960 Shares of Red Hat Inc (RHT) Stock

Red Hat Inc (NYSE:RHT) EVP Delisa Alexander sold 960 shares of the stock in a transaction that occurred on 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 owns 33,217 shares in the company, valued at $4,153,121.51. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

RHT traded up $1.65 during mid-day trading on Friday, reaching $123.50. The stock had a trading volume of 4,656 shares, compared to its average volume of 2,580,154. The firm has a market capitalization of $21.97 billion, a price-to-earnings ratio of 53.69, a PEG ratio of 3.24 and a beta of 1.14. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.23 and a current ratio of 1.23. Red Hat Inc has a 52 week low of $116.31 and a 52 week high of $177.70.

Red Hat (NYSE:RHT) last posted its quarterly earnings results on Wednesday, September 19th. The open-source software company reported $0.85 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.82 by $0.03. The company had revenue of $822.75 million for the quarter, compared to the consensus estimate of $828.12 million. Red Hat had a return on equity of 31.80% and a net margin of 9.15%. The firm’s quarterly revenue was up 13.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.77 EPS. As a group, research analysts forecast that Red Hat Inc will post 2.57 EPS for the current year.

Red Hat declared that its board has authorized a share buyback plan on Thursday, June 21st that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the open-source software company to reacquire up to 4% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

RHT has been the topic of a number of research analyst reports. ValuEngine lowered Red Hat from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 22nd. Monness Crespi & Hardt decreased their price target on Red Hat from $200.00 to $186.00 and set a “buy” rating on the stock in a research report on Friday, June 22nd. UBS Group restated a “buy” rating and set a $170.00 price target on shares of Red Hat in a research report on Friday, June 22nd. Zacks Investment Research upgraded Red Hat from a “hold” rating to a “buy” rating and set a $159.00 price target on the stock in a research report on Tuesday, June 26th. Finally, Cowen restated a “buy” rating and set a $165.00 price target on shares of Red Hat in a research report on Tuesday, June 26th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eighteen have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $156.07.

Several hedge funds have recently bought and sold shares of RHT. Janus Henderson Group PLC lifted its stake in shares of Red Hat by 64.9% in the 2nd quarter. Janus Henderson Group PLC now owns 2,162,044 shares of the open-source software company’s stock valued at $290,527,000 after purchasing an additional 850,715 shares during the period. Cornerstone Wealth Management LLC lifted its stake in shares of Red Hat by 13,666.2% in the 2nd quarter. Cornerstone Wealth Management LLC now owns 713,364 shares of the open-source software company’s stock valued at $5,233,000 after purchasing an additional 708,182 shares during the period. Sumitomo Mitsui Asset Management Company LTD lifted its stake in shares of Red Hat by 3,281.3% in the 3rd quarter. Sumitomo Mitsui Asset Management Company LTD now owns 421,884 shares of the open-source software company’s stock valued at $57,494,000 after purchasing an additional 409,407 shares during the period. Glenmede Trust Co. NA lifted its stake in shares of Red Hat by 22,198.9% in the 2nd quarter. Glenmede Trust Co. NA now owns 339,166 shares of the open-source software company’s stock valued at $45,574,000 after purchasing an additional 337,645 shares during the period. Finally, Bristol John W & Co. Inc. NY acquired a new position in shares of Red Hat in the 2nd quarter valued at $27,953,000. 95.13% of the stock is currently owned by institutional investors.

Red Hat Company Profile

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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