Here is the rundown on market activity for Red Hat, Inc. Common Stock (NYSE:RHT). EVP, Products & Technologies Paul J. Cormier sold 26,462 shares at a price of $91.59 on June 8th. That brings the EVP, Products & Technologies’s holdings to $16,313,644 as recorded in a recent Form 4 SEC filing. Paul J. Cormier, EVP, Products & Technologies sold $2,734,800 worth of shares at a price of $91.16 on Tue the 6th. The EVP, Products & Technologies now owns $18,649,330 of the stock as reported to the SEC.
EVP, Global Sales & Service Arun Oberoi let go of 30,000 shares at an average price of $87.48 on Fri the 28th. That brings Oberoi’s holdings to $7,493,537 per an SEC filing yesterday.
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 some other firms who have updated their holdings. As of the end of the quarter Cpcm, LLC had acquired a total of 8 shares growing its stake by 0.2%. The value of the investment in (RHT) went from $393,000 to $384,000 decreasing 2.3% for the reporting period. As of quarter end Clearbridge Investments, LLC had bought 412,181 shares growing its position 11.0%. The value of the investment in RHT increased from $261,244,000 to $359,866,000 a change of 37.8% quarter over quarter.
Piedmont Investment Advisors LLC divested its stake by shedding 3 shares a decrease of 0.0% in the quarter. Piedmont Investment Advisors LLC now holds 9,747 shares valued at $843,000. The value of the position overall is up by 24.2%. Proficio Capital Partners LLC expanded its investment by buying 124 shares an increase of 25.8% as of 03/31/2017. Proficio Capital Partners LLC now controls 605 shares with a value of $53,000. The total value of its holdings increased 55.9%.
Bernstein started covering RHT by announcing an initial rating of “Market Perform”. September 23 investment analysts at Baird maintained a stock rating of “Outperform” and raised the price target to $90.00 from $80.00.
On September 22 UBS held the stock rating at “Hold” and lowered the price expectation from $88.00 to $79.00. September 22 investment analysts at Citigroup maintained a company rating of “Buy” but raised the price target from $90.00 to $92.00.
On July 7 the company was rated “” by Morgan Stanley which is down from the previous “Overweight” rating. On April 14, 2016 the stock rating was changed to a “Overweight” in a report from Pacific Crest a boost from the previous “Sector Weight” rating.
The company is now down by -3.36% since yesterday’s close of $91.94. Company shares last traded at $88.85 which is marginally over the 50 day moving average of $88.64 and barely above the 200 day moving average of $81.84. The 50 day moving average was up $0.21 and the 200 day average was up $7.01.
The company currently has a P/E ratio of 63.92 and the market cap is 15.80B. As of the last earnings report the EPS was $1.39 and is projected to be $2.60 for the current year with 177,776,000 shares now outstanding. Next quarter’s EPS is forecasted at $0.65 and the next full year EPS is anticipated to be $3.07.