Red Hat Inc(NYSE:RHT) announced the earnings results for Fiscal Year 2017 and Q4. The results came in during After-Market on Mar 27, 2017. Based on the corporate Earnings and Guidance, many Investment Banking firms balance their portfolio to Sell and Buy Stocks based on their strategy of investing in stocks.Earnings per share were $0.61.
In a different note, Baird said it Initiates Coverage On Red Hat Inc, according to a research note issued on Feb 28, 2017. In the research note, the firm Announces the price-target to $90 per share. The shares have been rated ‘Neutral’ by the firm. Wells Fargo said it Initiates Coverage On Red Hat Inc, according to a research note issued on Jan 11, 2017. The shares have been rated ‘Outperform’ by the firm.
Red Hat Inc (RHT) made into the market gainers list on Fridays trading session with the shares advancing 0.24% or 0.2 points. Due to strong positive momentum, the stock ended at $82.96, which is also near the day’s high of $83.57. The stock began the session at $83.01 and the volume stood at 22,86,651 shares. The 52-week high of the shares is $85.01 and the 52 week low is $68.54. The company has a current market capitalization of $14,791 M and it has 17,82,87,990 shares in outstanding.
Several Insider Transactions has been reported to the SEC. On Mar 2, 2017, James M Whitehurst (CEO & President) sold 5,099 shares at $83.69 per share price.Also, On Jan 23, 2017, Delisa Alexander (EVP, Chief People Officer) sold 16,712 shares at $73.67 per share price.On Oct 4, 2016, Michael Cunningham (EVP, General Counsel) sold 15,000 shares at $80.42 per share price, according to the Form-4 filing with the securities and exchange commission.
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. The Company distributes its software offerings under open source licenses that permit access to the software’s human-readable source code. The Company provides its software offerings primarily under annual or multi-year subscriptions as well as on-demand through cloud service providers.