Traders Sell Red Hat (RHT) on Strength (RHT)

Investors sold shares of Red Hat Inc (NYSE:RHT) on strength during trading hours on Tuesday. $48.97 million flowed into the stock on the tick-up and $67.50 million flowed out of the stock on the tick-down, for a money net flow of $18.53 million out of the stock. Of all stocks tracked, Red Hat had the 0th highest net out-flow for the day. Red Hat traded up $0.56 for the day and closed at $120.87

Several analysts have issued reports on the stock. Deutsche Bank reaffirmed a “buy” rating and issued a $120.00 price target (up previously from $110.00) on shares of Red Hat in a report on Tuesday, September 26th. Wells Fargo & Co reaffirmed an “outperform” rating and issued a $120.00 price target (up previously from $115.00) on shares of Red Hat in a report on Tuesday, September 19th. Robert W. Baird reaffirmed a “hold” rating on shares of Red Hat in a report on Tuesday, September 26th. Drexel Hamilton reaffirmed a “buy” rating and issued a $130.00 price target (up previously from $127.00) on shares of Red Hat in a report on Monday, September 25th. Finally, Cowen reaffirmed an “outperform” rating and issued a $120.00 price target on shares of Red Hat in a report on Sunday, September 24th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and twenty-two have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $124.25.

The company has a quick ratio of 1.30, a current ratio of 1.37 and a debt-to-equity ratio of 0.53. The stock has a market cap of $21,420.00, a PE ratio of 65.78, a P/E/G ratio of 3.67 and a beta of 1.19.

Red Hat (NYSE:RHT) last issued its quarterly earnings results on Tuesday, December 19th. The open-source software company reported $0.73 EPS for the quarter, topping the consensus estimate of $0.70 by $0.03. Red Hat had a net margin of 12.14% and a return on equity of 26.23%. The firm had revenue of $747.98 million during the quarter, compared to analyst estimates of $734.69 million. During the same quarter in the prior year, the business posted $0.61 earnings per share. Red Hat’s revenue for the quarter was up 21.6% compared to the same quarter last year. research analysts predict that Red Hat Inc will post 2.08 EPS for the current year.

In related news, Director William S. Kaiser sold 14,000 shares of the company’s stock in a transaction that occurred on Thursday, October 5th. The shares were sold at an average price of $114.79, for a total transaction of $1,607,060.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO James M. Whitehurst sold 4,211 shares of the company’s stock in a transaction that occurred on Tuesday, October 17th. The stock was sold at an average price of $120.36, for a total transaction of $506,835.96. Following the transaction, the chief executive officer now directly owns 380,158 shares of the company’s stock, valued at approximately $45,755,816.88. The disclosure for this sale can be found here. Insiders have sold 22,172 shares of company stock valued at $2,592,577 in the last ninety days. 0.66% of the stock is currently owned by company insiders.

Institutional investors have recently added to or reduced their stakes in the company. D.A. Davidson & CO. increased its position in shares of Red Hat by 6.8% in the second 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 in the last quarter. Clear Perspective Advisors LLC acquired a new stake in shares of Red Hat in the second quarter worth $112,000. Sun Life Financial INC increased its position in shares of Red Hat by 14,837.5% in the second 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 in the last quarter. BB&T Investment Services Inc. acquired a new stake in shares of Red Hat in the second quarter worth $135,000. Finally, Zions Bancorporation purchased a new position in shares of Red Hat in the third quarter valued at $164,000. 93.57% of the stock is owned by institutional investors.

ILLEGAL ACTIVITY NOTICE: This story was originally posted by Chaffey Breeze and is owned by of Chaffey Breeze. If you are viewing this story on another domain, it was copied illegally and republished in violation of U.S. & international copyright & trademark legislation. The original version of this story can be viewed at https://www.chaffeybreeze.com/2017/12/06/traders-sell-red-hat-rht-on-strength-rht.html.

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.

Receive News & Ratings for Red Hat Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Red Hat and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply