Traders bought shares of Red Hat Inc. (NYSE:RHT) on weakness during trading hours on Thursday. $32.64 million flowed into the stock on the tick-up and $19.35 million flowed out of the stock on the tick-down, for a money net flow of $13.29 million into the stock. Of all companies tracked, Red Hat had the 22nd highest net in-flow for the day. Red Hat traded down ($0.17) for the day and closed at $73.49

A number of research analysts recently issued reports on the company. BMO Capital Markets reiterated an “outperform” rating and issued a $85.00 target price (down from $88.00) on shares of Red Hat in a report on Thursday, June 23rd. Stifel Nicolaus reiterated a “buy” rating on shares of Red Hat in a report on Thursday, June 23rd. Oppenheimer Holdings Inc. reiterated a “buy” rating and issued a $88.00 target price on shares of Red Hat in a report on Thursday, June 23rd. Royal Bank Of Canada reiterated a “buy” rating on shares of Red Hat in a report on Thursday, June 23rd. Finally, Robert W. Baird reiterated a “buy” rating on shares of Red Hat in a report on Thursday, June 23rd. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and twenty-four have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $87.79.

The firm has a market cap of $13.19 billion and a P/E ratio of 63.89. The firm has a 50-day moving average price of $75.55 and a 200 day moving average price of $73.02.

Red Hat (NYSE:RHT) last released its quarterly earnings results on Wednesday, June 22nd. The open-source software company reported $0.50 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.50. The business had revenue of $567.90 million for the quarter, compared to the consensus estimate of $562.76 million. During the same period last year, the firm posted $0.44 EPS. The business’s quarterly revenue was up 18.1% on a year-over-year basis. On average, equities research analysts expect that Red Hat Inc. will post $2.21 earnings per share for the current year.

In other news, EVP Michael Cunningham sold 10,000 shares of Red Hat stock in a transaction that occurred on Monday, July 11th. The stock was sold at an average price of $73.14, for a total transaction of $731,400.00. Following the sale, the executive vice president now owns 64,800 shares of the company’s stock, valued at $4,739,472. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO James M. Whitehurst sold 16,239 shares of Red Hat stock in a transaction that occurred on Thursday, April 21st. The shares were sold at an average price of $75.62, for a total value of $1,227,993.18. Following the sale, the chief executive officer now directly owns 409,538 shares in the company, valued at approximately $30,969,263.56. The disclosure for this sale can be found here.

Several hedge funds and institutional investors recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in Red Hat by 2.3% in the fourth quarter. Vanguard Group Inc. now owns 15,507,004 shares of the open-source software company’s stock worth $1,284,135,000 after buying an additional 346,741 shares in the last quarter. Bank of Montreal Can raised its position in Red Hat by 89.9% in the fourth quarter. Bank of Montreal Can now owns 626,163 shares of the open-source software company’s stock worth $51,851,000 after buying an additional 296,456 shares in the last quarter. Mizuho Trust & Banking Co. Ltd. raised its position in Red Hat by 0.3% in the fourth quarter. Mizuho Trust & Banking Co. Ltd. now owns 275,468 shares of the open-source software company’s stock worth $23,043,000 after buying an additional 951 shares in the last quarter. Principal Financial Group Inc. raised its position in Red Hat by 1.6% in the fourth quarter. Principal Financial Group Inc. now owns 274,254 shares of the open-source software company’s stock worth $22,711,000 after buying an additional 4,266 shares in the last quarter. Finally, OppenheimerFunds Inc. raised its position in Red Hat by 168.9% in the fourth quarter. OppenheimerFunds Inc. now owns 249,118 shares of the open-source software company’s stock worth $20,631,000 after buying an additional 156,478 shares in the last quarter.

Red Hat, Inc is a provider of open source software solutions, using a community-powered approach to develop and offer operating system, virtualization, middleware, storage and cloud technologies. The Company employs an open source development model. The open source development model allows it to use the collective input, resources and knowledge of a global community of contributors who can collaborate to develop, maintain and enhance software because the human-readable source code for that software is publicly available and licenses permit modification.

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