Red Hat Inc (RHT) Files Form 4 Insider Selling : Michael Cunningham Sells 10,000 Shares

Red Hat Inc (RHT): Michael Cunningham , EVP, General Counsel of Red Hat Inc sold 10,000 shares on Jul 11, 2016. The Insider selling transaction was reported by the company on Jul 12, 2016 to the Securities and Exchange Commission. The shares were sold at $73.14 per share for a total value of $731,400.00 , the company said in a SEC Form 4 Filing.

Other Insider transactions have been reported by the company according to SEC Form 4, on May 26, 2016, James M Whitehurst (CEO & President) sold 43,425 shares at $75.00 per share price.On Apr 28, 2016, Delisa Alexander (EVP, Chief People Officer) sold 12,516 shares at $74.00 per share price.Also, On Jan 12, 2016, William S Kaiser (director) sold 18,972 shares at $80.15 per share price.On Dec 23, 2015, Arun Oberoi (EVP, Global Sales & Service) sold 9,300 shares at $80.81 per share price.

Shares of Red Hat Inc (RHT) ended Monday, Jul 11, 2016 session in red amid volatile trading. The shares closed down -0.05 points or -0.07% at $72.64 with 12,78,999 shares getting traded. Post opening the session at $73.08, the shares hit an intraday low of $72.62 and an intraday high of $73.71 and the price vacillated in this range throughout the day. The company has a market cap of $13,155 M and the number of outstanding shares has been calculated to be 18,10,96,140 shares. The 52-week high of Red Hat Inc is $84.44 and the 52-week low is $59.59.

Red Hat Inc Money Flow Index Chart

Company has been under the radar of several Street Analysts.Red Hat Inc is Downgraded by Morgan Stanley to Equal-Weight. Earlier the firm had a rating of Overweight on the company shares. The Rating was issued on Jul 7, 2016.Red Hat Inc is Reiterated by BMO Capital Markets to Outperform while Lowering the Price Target of the company shares to $ 85 from a previous price target of $88 . The Rating was issued on Jun 23, 2016.Red Hat Inc is Upgraded by Pacific Crest to Overweight. Earlier the firm had a rating of Sector Weight on the company shares. The Rating was issued on Apr 14, 2016.

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.

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