The company is so far trading up by 2.21 percent from yesterday’s close. Company shares last traded at $102.65 just a bit higher than $98.60, the stock’s 50 day moving average and significantly higher than the 200 day moving average of $89.64. The 50 day moving average moved up $4.05 and the 200 day average moved up $13.01.
Red Hat, Inc. (NYSE:RHT) has been the object of insider selling activity recently. Eric Ryan Shander, EVP disclosed the sale of 1,521 shares of RHT stock. The shares were sold on July 26th for an average price of $99.98. Shander now owns $991,102 of the stock according to the SEC filing. Director William S. Kaiser disclosed the sale of 10,994 shares of (RHT). The shares were purchased at an average price of $96.20. The Director now owns $7,774,307 of the stock per the Form 4 SEC filing.
Michael Cunningham, EVP let go of $386,360 worth of shares at an average price of $96.59 on Fri the 7th. That brings Cunningham’s holdings to $2,902,530 as reported to the SEC.
Red Hat, Inc. (Red Hat), launched on October 17, 1998, is a provider of open source software solutions, using a community-powered approach to develop and offer operating system, virtualization, management, middleware, cloud, mobile and storage technologies. The Company operates through three geographical segments: the Americas (the United States, Canada and Latin America); Europe, Middle East and Africa (EMEA), and Asia Pacific. The Business’s products and services include infrastructure-related offerings, application development-related and other technology offerings, and consulting, support and training services..
Here are a few other firms who have also updated their positions. As of the end of the quarter Sentry Investment Management LLC had bought 3,872 shares growing its stake by 7.7%. The value in dollars increased from $4,353,000 to $5,189,000 a change of 19.2% quarter over quarter. Oak Associates Ltd /oh/ grew its ownership by buying 37,518 shares an increase of 32.0% in the quarter. Oak Associates Ltd /oh/ now holds 154,608 shares with a value of $14,804,000. The total value of its holdings increased 46.2%.
As of quarter end Toronto Dominion Bank had acquired a total of 30,437 shares growing its holdings by 1,549.0%. The value of the company’s investment in Red Hat, Inc. went from $170,000 to $3,102,000 increasing 1,724.7% since the last quarter. Winton Group Ltd expanded its holdings by buying 111,109 shares an increase of 114.2%. Winton Group Ltd owns 208,364 shares worth $19,951,000. The value of the position overall is up by 137.1%.
PiperJaffray started covering the stock with an initial rating of “Buy”. On June 21 the company was upgraded from “Buy” to “Buy” in an announcement from Stifel Nicolaus.
On May 24, 2017 Bernstein initiated coverage with a rating of “Market Perform”.
Red Hat, Inc. currently has a P/E ratio of 70.31 and market capitalization is 18.22B. As of the last earnings report the EPS was $1.46 and is expected to be $2.68 for the current year with 177,459,000 shares currently outstanding. Analysts expect next quarter’s EPS to be $0.70 with next year’s EPS anticipated to be $3.16.