William S. Kaiser Sells 14,000 Shares of Red Hat, Inc. (RHT) Stock

Red Hat, Inc. (NYSE:RHT) Director William S. Kaiser sold 14,000 shares of the company’s stock in a transaction on Thursday, October 5th. The stock was sold at an average price of $114.79, for a total value of $1,607,060.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Red Hat, Inc. (NYSE RHT) opened at 117.06 on Friday. The company has a market cap of $20.71 billion, a PE ratio of 70.05 and a beta of 1.25. Red Hat, Inc. has a one year low of $68.54 and a one year high of $117.22. The firm has a 50-day moving average of $107.71 and a 200-day moving average of $95.69.

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 the Zacks’ consensus estimate of $0.67 by $0.10. Red Hat had a net margin of 11.49% and a return on equity of 25.27%. The company had revenue of $723.60 million for the quarter, compared to analyst estimates of $699.56 million. During the same period in the prior year, the business earned $0.55 earnings per share. Red Hat’s quarterly revenue was up 20.6% on a year-over-year basis. On average, analysts predict that Red Hat, Inc. will post $2.79 EPS for the current year.

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Several hedge funds have recently made changes to their positions in RHT. Pacer Advisors Inc. lifted its position in shares of Red Hat by 3.3% during the first quarter. Pacer Advisors Inc. now owns 3,462 shares of the open-source software company’s stock worth $299,000 after purchasing an additional 110 shares in the last quarter. Nordea Investment Management AB lifted its position in shares of Red Hat by 1.0% during the first quarter. Nordea Investment Management AB now owns 6,919 shares of the open-source software company’s stock worth $598,000 after purchasing an additional 70 shares in the last quarter. Alliancebernstein L.P. lifted its position in shares of Red Hat by 13.9% during the first quarter. Alliancebernstein L.P. now owns 345,363 shares of the open-source software company’s stock worth $29,874,000 after purchasing an additional 42,121 shares in the last quarter. OppenheimerFunds Inc. lifted its position in shares of Red Hat by 6.8% during the first quarter. OppenheimerFunds Inc. now owns 3,363 shares of the open-source software company’s stock worth $291,000 after purchasing an additional 215 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its position in shares of Red Hat by 0.4% during the first quarter. Principal Financial Group Inc. now owns 276,605 shares of the open-source software company’s stock worth $23,926,000 after purchasing an additional 1,030 shares in the last quarter. Institutional investors own 94.03% of the company’s stock.

RHT has been the subject of a number of research analyst reports. Barclays PLC upped their price objective on Red Hat from $105.00 to $120.00 and gave the stock an “overweight” rating in a report on Monday, September 18th. Bank of America Corporation restated a “neutral” rating and set a $115.00 price objective (up from $105.00) on shares of Red Hat in a report on Tuesday, September 26th. Oppenheimer Holdings, Inc. restated an “outperform” rating and set a $105.00 price objective (up from $96.00) on shares of Red Hat in a report on Thursday, June 22nd. Wells Fargo & Company restated an “outperform” rating and set a $124.00 price objective (up from $120.00) on shares of Red Hat in a report on Wednesday, September 27th. Finally, Piper Jaffray Companies initiated coverage on Red Hat in a report on Friday, June 23rd. They set a “neutral” rating and a $100.00 price objective for the company. Ten equities research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $110.93.

About Red Hat

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.

Insider Buying and Selling by Quarter for Red Hat (NYSE:RHT)

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