Director at Red Hat Inc (NYSE:RHT) is Selling Shares

Yesterday, director at Red Hat Inc (NYSE:RHT), Jeff Clarke, sold stocks of RHT for $358.6k.

In addition to Clarke, 17 other RHT executives reported Sell trades in the last month. Following Clarke’s last RHT Sell transaction on January 13, 2015, the stock climbed by 11.8%.

Based on Red Hat`s latest earnings report from May 31, the company posted quarterly revenue of $481M and quarterly net profit of $48.09M. In comparison, last year the company earned revenue of $423.8M and had a net profit of $37.75M. The company has a one year high of $81.49 and a one year low of $52.53. RHT’s market cap is $14.51B and the company has a P/E ratio of 77.9%.

5 different firms, including Citigroup and Drexel Hamilton, currently also have a Sell rating on the stock. Based on 11 analyst ratings, the analyst consensus is Strong Buy with an average price target of $79.63, reflecting a -0.6% downside.

Looking at blogger coverage of RHT, there is a 82% Bullish tendency on the stock, in relation to a 67% average bullish tendency within the Technology sector.

Over the last 3 months, the insider sentiment on Red Hat has been negative based on 89 corporate insider transactions. This sentiment is lower than the average sector sentiment of insiders.

Red Hat Inc is a provider of open source software solutions, using a community-powered approach to develop and offer reliable and high-performing operating system, middleware, virtualization, storage and cloud technologies.