Sei Investments Co. decreased its position in Red Hat, Inc. (NYSE:RHT) by 2.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 203,796 shares of the open-source software company’s stock after selling 5,472 shares during the period. Sei Investments Co. owned 0.11% of Red Hat worth $22,593,000 at the end of the most recent quarter.
Other institutional investors have also recently bought and sold shares of the company. D.A. Davidson & CO. boosted its holdings in Red Hat by 6.8% in the second quarter. D.A. Davidson & CO. now owns 1,071 shares of the open-source software company’s stock valued at $102,000 after acquiring an additional 68 shares during the last quarter. Clear Perspective Advisors LLC bought a new position in Red Hat in the second quarter valued at about $112,000. Sun Life Financial INC boosted its holdings in Red Hat by 14,837.5% in the second quarter. Sun Life Financial INC now owns 1,195 shares of the open-source software company’s stock valued at $114,000 after acquiring an additional 1,187 shares during the last quarter. Shine Investment Advisory Services Inc. bought a new position in Red Hat in the second quarter valued at about $117,000. Finally, State of Alaska Department of Revenue bought a new position in Red Hat in the second quarter valued at about $122,000. Institutional investors and hedge funds own 95.42% of the company’s stock.
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In other Red Hat news, CEO James M. Whitehurst sold 4,211 shares of Red Hat stock in a transaction on Tuesday, October 17th. The stock was sold at an average price of $120.36, for a total value of $506,835.96. Following the completion of the transaction, the chief executive officer now directly owns 380,158 shares of the company’s stock, valued at approximately $45,755,816.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO James M. Whitehurst sold 12,000 shares of Red Hat stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $111.15, for a total value of $1,333,800.00. Following the completion of the transaction, the chief executive officer now directly owns 392,979 shares of the company’s stock, valued at $43,679,615.85. The disclosure for this sale can be found here. Insiders sold a total of 234,172 shares of company stock valued at $4,072,377 over the last ninety days. Insiders own 0.66% of the company’s stock.
Shares of Red Hat, Inc. (NYSE:RHT) opened at $123.90 on Tuesday. The stock has a market capitalization of $22,139.80, a price-to-earnings ratio of 68.23, a P/E/G ratio of 3.95 and a beta of 1.18. Red Hat, Inc. has a one year low of $68.54 and a one year high of $124.56. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 0.54.
Red Hat (NYSE:RHT) last released its quarterly earnings results on Monday, September 25th. The open-source software company reported $0.77 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.67 by $0.10. The business had revenue of $723.60 million during the quarter, compared to the consensus estimate of $699.56 million. Red Hat had a return on equity of 25.27% and a net margin of 11.49%. The firm’s quarterly revenue was up 20.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.55 EPS. equities analysts predict that Red Hat, Inc. will post 2 earnings per share for the current fiscal year.
RHT has been the topic of several recent research reports. Zacks Investment Research cut Red Hat from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 22nd. Credit Suisse Group started coverage on Red Hat in a report on Tuesday, September 5th. They set a “neutral” rating and a $111.00 target price on the stock. Piper Jaffray Companies restated a “hold” rating and set a $100.00 target price on shares of Red Hat in a report on Sunday, August 27th. KeyCorp restated an “overweight” rating and set a $121.00 target price on shares of Red Hat in a report on Friday, September 8th. Finally, Royal Bank Of Canada raised their target price on Red Hat from $106.00 to $121.00 and gave the stock an “outperform” rating in a report on Wednesday, September 20th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and twenty-four have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $110.93.
Red Hat Company Profile
Red Hat, Inc (Red Hat) provides open source software solutions, using a community-powered approach to develop and offer operating system, virtualization, management, middleware, cloud, mobile and storage technologies. Red Hat operates through three geographical segments: the Americas, including the United States, Canada and Latin America; EMEA, including Europe, Middle East and Africa, and Asia Pacific.
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