Red Hat (NYSE:RHT) has climbed 0.49% in the past week and advanced 5.64% in the last 4 weeks. In the past week, the company has outperformed the S&P 500 by 1.7% and the outperformance has advanced to 4.68% for the last 4 weeks period.
Red Hat (NYSE:RHT): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $77.00 and $76.28 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $77.42. The buying momentum continued till the end and the stock did not give up its gains. It closed at $77.30, notching a gain of 0.43% for the day. The total traded volume was 1,978,234 . The stock had closed at $76.97 on the previous day.
The company shares have dropped -2.73% from its 1 Year high price. On Dec 30, 2015, the shares registered one year high at $84.44 and the one year low was seen on Feb 8, 2016. The 50-Day Moving Average price is $75.09 and the 200 Day Moving Average price is recorded at $73.91.
On the companys insider trading activities, Whitehurst James M, director officer (CEO & President) of Red Hat Inc, unloaded 43,425 shares at an average price of $75 on May 24, 2016. The total amount of the transaction was worth $3,256,875, according to the disclosed information with the Securities and Exchange Commission in a Form 4 filing.
Many analysts have stated their opinion on the company shares. In the latest statement by the brokerage house, Pacific Crest upgrades its outlook on Red Hat (NYSE:RHT). The current rating of the shares is Overweight, according to the research report released by the firm. Previously, the company had a rating of Sector Weight. The rating by the firm was issued on April 14, 2016. Currently the company Insiders own 0.66% of Red Hat shares according to the proxy statements. In the past twelve weeks, the net percent change held by company insiders has changed by 3.21% . Institutional Investors own 96.28% of Red Hat shares. During last six month period, the net percent change held by insiders has seen a change of -0.53%.
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 softwares 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.