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.
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.
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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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