Today, the EVP, Products & Technologies of Red Hat (NYSE: RHT), Paul Cormier, sold shares of RHT for $10.04M.
Following Paul Cormier’s last RHT Sell transaction on May 05, 2017, the stock climbed by 74.7%. In addition to Paul Cormier, 3 other RHT executives reported Sell trades in the last month.
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Based on Red Hat’s latest earnings report for the quarter ending February 28, the company posted quarterly revenue of $772 million and GAAP net loss of $12.55 million. In comparison, last year the company earned revenue of $629 million and had a net profit of $65.8 million. The company has a one-year high of $167.36 and a one-year low of $84.16. RHT’s market cap is $28.91B and the company has a P/E ratio of 116.47.
Based on 23 analyst ratings, the analyst consensus is Moderate Buy with an average price target of $167.64, reflecting a -2.7% downside. Six different firms, including Merrill Lynch and Citigroup, currently also have a Sell rating on the stock.
The insider sentiment on Red Hat has been negative according to 93 insider trades in the past three months. This sentiment is lower than the average sentiment of company insiders in this sector.
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Red Hat, Inc. engages in the provision of open source software solutions. The firm operates its business through the following graphical segments: Americas (the United States, Canada, and Latin America); EMEA (Europe, Middle East, and Africa); and Asia Pacific. It offers Red Hat Enterprise Linux; Red Hat JBoss Middleware; Red Hat Enterprise Virtualization; and Red Hat Storage Server. The company was founded by Robert F. Young in March 1993 and is headquartered in Raleigh, NC.
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