Red Hat, Inc. (NYSE:RHT)’s share price reached a new 52-week high during mid-day trading on Monday . The company traded as high as $102.56 and last traded at $102.73, with a volume of 1,101,047 shares trading hands. The stock had previously closed at $100.43.

A number of equities analysts have issued reports on the company. Deutsche Bank AG lifted their price target on Red Hat from $100.00 to $110.00 and gave the company a “buy” rating in a research note on Wednesday, June 21st. Oppenheimer Holdings, Inc. restated an “outperform” rating and issued a $96.00 target price (up previously from $94.00) on shares of Red Hat in a research note on Wednesday, May 10th. Mizuho cut their target price on Red Hat from $109.00 to $96.00 and set a “buy” rating on the stock in a research note on Wednesday, June 21st. Pacific Crest cut their target price on Red Hat from $115.00 to $97.00 and set an “overweight” rating on the stock in a research note on Wednesday, June 21st. Finally, BTIG Research cut their target price on Red Hat from $120.00 to $95.00 and set a “buy” rating on the stock in a research note on Wednesday, June 21st. Ten investment analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $98.72.

The stock has a market cap of $18.61 billion, a PE ratio of 71.84 and a beta of 1.26. The firm has a 50-day moving average of $98.60 and a 200-day moving average of $89.64.

Red Hat (NYSE:RHT) last announced its quarterly earnings data on Tuesday, June 20th. The open-source software company reported $0.56 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.53 by $0.03. The firm had revenue of $677 million for the quarter, compared to the consensus estimate of $647.42 million. Red Hat had a net margin of 10.54% and a return on equity of 22.84%. The company’s revenue was up 19.2% on a year-over-year basis. During the same period last year, the firm earned $0.50 EPS. Equities analysts expect that Red Hat, Inc. will post $2.68 EPS for the current year.

In other news, CFO Eric Ryan Shander sold 1,521 shares of the firm’s stock in a transaction on Wednesday, July 26th. The shares were sold at an average price of $99.98, for a total transaction of $152,069.58. Following the sale, the chief financial officer now directly owns 9,913 shares in the company, valued at approximately $991,101.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Paul J. Cormier sold 30,000 shares of the firm’s stock in a transaction on Friday, June 2nd. The shares were sold at an average price of $90.35, for a total transaction of $2,710,500.00. Following the sale, the executive vice president now owns 249,578 shares in the company, valued at $22,549,372.30. The disclosure for this sale can be found here. Insiders have sold a total of 130,549 shares of company stock worth $12,133,438 over the last 90 days. Insiders own 0.66% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. increased its stake in shares of Red Hat by 2.8% in the second quarter. Vanguard Group Inc. now owns 17,627,522 shares of the open-source software company’s stock worth $1,687,836,000 after buying an additional 479,615 shares in the last quarter. FMR LLC increased its stake in shares of Red Hat by 10.8% in the second quarter. FMR LLC now owns 11,165,642 shares of the open-source software company’s stock worth $1,069,110,000 after buying an additional 1,085,953 shares in the last quarter. Northern Trust Corp increased its stake in shares of Red Hat by 28.8% in the second quarter. Northern Trust Corp now owns 3,794,946 shares of the open-source software company’s stock worth $363,365,000 after buying an additional 848,777 shares in the last quarter. Sustainable Growth Advisers LP increased its stake in shares of Red Hat by 3.8% in the first quarter. Sustainable Growth Advisers LP now owns 2,425,693 shares of the open-source software company’s stock worth $209,823,000 after buying an additional 88,232 shares in the last quarter. Finally, DF Dent & Co. Inc. increased its stake in shares of Red Hat by 2.7% in the first quarter. DF Dent & Co. Inc. now owns 1,803,495 shares of the open-source software company’s stock worth $156,002,000 after buying an additional 47,219 shares in the last quarter. Institutional investors own 93.23% of the company’s stock.

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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.

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