Red Hat (RHT) : During the past 4 weeks, traders have been relatively bearish on Red Hat (RHT), hence the stock is down -9.73% when compared to the S&P 500 during the same period. However, in the past 1 week, the selling of the stock is down by -1.28% relative to the S&P 500. The stock has risen by 0.19% in the past week indicating that the buyers are active at lower levels, but the stock is down -5.78% in the past 4 weeks. The stock has recorded a 20-day Moving Average of 1.96% and the 50-Day Moving Average is 2.62%.
Red Hat (NYSE:RHT): The stock opened at $73.73 on Friday but the bulls could not build on the opening and the stock topped out at $73.97 for the day. The stock traded down to $72.70 during the day, due to lack of any buying support eventually closed down at $72.83 with a loss of -0.90% for the day. The stock had closed at $73.49 on the previous day. The total traded volume was 1,272,232 shares.
The company Insiders own 0.76% 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 -2.77% . Institutional Investors own 96.06% of Red Hat shares. During last six month period, the net percent change held by insiders has seen a change of 1%. In a related news, The Securities and Exchange Commission has divulged that Cunningham Michael, officer (EVP, General Counsel) of Red Hat Inc, had unloaded 10,000 shares at an average price of $73.14 in a transaction dated on July 11, 2016. The total value of the transaction was worth $731,400.
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.