Traders purchased shares of Red Hat Inc. (NYSE:RHT) on weakness during trading on Friday. $46.67 million flowed into the stock on the tick-up and $32.87 million flowed out of the stock on the tick-down, for a money net flow of $13.80 million into the stock. Of all companies tracked, Red Hat had the 6th highest net in-flow for the day. Red Hat traded down ($0.51) for the day and closed at $74.37

A number of analysts have issued reports on the company. Raymond James Financial Inc. reissued a “buy” rating on shares of Red Hat in a research report on Thursday, June 23rd. Deutsche Bank AG reissued a “buy” rating and issued a $95.00 target price on shares of Red Hat in a research report on Thursday, June 23rd. Robert W. Baird reissued a “buy” rating on shares of Red Hat in a research report on Thursday, June 23rd. Royal Bank Of Canada reissued a “buy” rating on shares of Red Hat in a research report on Thursday, June 23rd. Finally, Oppenheimer Holdings Inc. reissued a “buy” rating and issued a $88.00 target price on shares of Red Hat in a research report on Thursday, June 23rd. Two analysts have rated the stock with a sell rating, five have given a hold rating and twenty-four have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $87.72.

The firm has a market capitalization of $13.47 billion and a price-to-earnings ratio of 65.24. The firm has a 50-day moving average price of $73.98 and a 200 day moving average price of $73.09.

Red Hat (NYSE:RHT) last announced its quarterly earnings data on Wednesday, June 22nd. The open-source software company reported $0.50 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.50. During the same period in the prior year, the company earned $0.44 EPS. The business had revenue of $567.90 million for the quarter, compared to the consensus estimate of $562.76 million. Red Hat’s quarterly revenue was up 18.1% on a year-over-year basis. Equities analysts predict that Red Hat Inc. will post $2.21 earnings per share for the current year.

In related news, EVP Michael Cunningham sold 10,000 shares of the business’s stock in a transaction dated Tuesday, July 26th. The shares were sold at an average price of $75.00, for a total transaction of $750,000.00. Following the completion of the sale, the executive vice president now owns 52,484 shares of the company’s stock, valued at approximately $3,936,300. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Delisa Alexander sold 2,395 shares of the business’s stock in a transaction dated Tuesday, July 19th. The shares were sold at an average price of $72.83, for a total transaction of $174,427.85. Following the sale, the executive vice president now directly owns 60,780 shares of the company’s stock, valued at approximately $4,426,607.40. The disclosure for this sale can be found here.

Other hedge funds and institutional investors have recently bought and sold shares of the company. KBC Group NV raised its position in Red Hat by 46.9% in the fourth quarter. KBC Group NV now owns 60,628 shares of the open-source software company’s stock worth $5,020,000 after buying an additional 19,357 shares during the last quarter. State of Tennessee Treasury Department raised its position in Red Hat by 156.3% in the fourth quarter. State of Tennessee Treasury Department now owns 72,034 shares of the open-source software company’s stock worth $5,965,000 after buying an additional 43,934 shares during the last quarter. Finally, BlackRock Advisors LLC raised its position in Red Hat by 43.2% in the fourth quarter. BlackRock Advisors LLC now owns 168,072 shares of the open-source software company’s stock worth $13,918,000 after buying an additional 50,714 shares during 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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