Shares last traded at $122.13 which is marginally higher than $112.60, the 50 day moving average and well above the 200 day moving average of $98.72. The 50 day moving average went up $9.53 or +8.47% and the 200 day average moved up $23.41. (NYSE:RHT) shares saw light trading volume with 1,394K shares changing hands in the last trading session. Trading volume was down 23.83% under the stocks average daily volume.
Short traders are feeling a little more bullish recently if you evaluate the change in short interest. The firm had a fall in short interest from September 15, 2017 to September 29, 2017 of -3.91%. Short shares decreased 129,073 over that timeframe. Days to cover decreased -2.0 to 1.0 and the percentage of shorted shares was 0.02% on September 29.
There has been some selling insider activity on Red Hat, Inc. (NYSE:RHT) recently. Michael A. Kelly, CIO disclosed the sale of 2,888 shares. The shares were sold on October 18th for an average price of $121.03. Kelly now owns $471,291 of the stock per the Form 4 SEC filing. CEO James M. Whitehurst disclosed the sale of 4,211 shares of RHT stock. The shares were purchased at an average price of $120.36. The CEO now owns $45,248,981 of the stock according to the SEC filing.
Delisa Alexander, EVP disclosed the sale of 1,073 shares of (RHT). The shares were purchased at an average price of $120.36. The EVP now owns $4,462,588 of the stock per the Form 4 SEC filing.
These funds have shifted positions in (RHT). State Treasurer State Of Michigan cut its ownership by shedding 4,500 shares a decrease of 7.7% from 06/30/2017 to 09/30/2017. State Treasurer State Of Michigan currently owns 53,896 shares with a value of $5,975,000. The value of the position overall is up by 6.9%. As of the end of the quarter Wealthtrust-arizona, LLC had sold a total of 10 shares trimming its holdings by 6.7%. The value of the total investment in Red Hat, Inc. went from $14,000 to $16,000 a change of $2,000 quarter to quarter.
As of quarter end Reilly Financial Advisors, LLC had acquired 46 shares growing its position 10.2%. The value in dollars increased from $43,000 to $55,000 increasing 27.9% quarter over quarter. Robeco Institutional Asset Management B.v. augmented its holdings by buying 26,919 shares an increase of 70.9% in the quarter. Robeco Institutional Asset Management B.v. owns 64,870 shares valued at $7,191,000. The total value of its holdings increased 97.9%.
September 18 investment analysts at Barclays held the company rating at “Overweight” and raised the price target to $120.00 from $90.00. On September 26 JP Morgan held the stock rating at “Neutral” but raised the price expectation from $89.00 to $113.00.
September 26 investment analysts at BMO Capital kept the stock rating at “Neutral” and moved up the price target from $90.00 to $113.00. September 26 investment analysts at Credit Suisse maintained a stock rating of “Neutral” but moved up the price target to $113.00 from $111.00.
September 26 investment analysts at Bank of America left the stock rating at “Overweight” and raised the price expectation from $78.00 to $122.00. On September 26 Barclays made no change to the company rating of “Overweight” but raised the price target from $120.00 to $122.00.
The P/E ratio is 73.09 and the market cap is 21.61B. As of the last earnings report the EPS was $1.67 and is estimated to be $2.79 for the current year with 176,947,000 shares outstanding. Next quarter’s EPS is forecasted at $0.75 and the next full year EPS is anticipated to be $3.28.
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..