Rhumbline Advisers reduced its holdings in shares of Red Hat, Inc. (NYSE:RHT) by 2.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 334,931 shares of the open-source software company’s stock after selling 8,772 shares during the period. Rhumbline Advisers owned about 0.19% of Red Hat worth $37,130,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Strategy Asset Managers LLC purchased a new stake in Red Hat during the 3rd quarter worth approximately $2,896,000. Los Angeles Capital Management & Equity Research Inc. purchased a new stake in Red Hat during the 3rd quarter worth approximately $414,000. Toronto Dominion Bank increased its stake in Red Hat by 11.8% during the 3rd quarter. Toronto Dominion Bank now owns 67,329 shares of the open-source software company’s stock worth $7,463,000 after buying an additional 7,099 shares during the period. New York State Common Retirement Fund increased its stake in Red Hat by 10.0% during the 3rd quarter. New York State Common Retirement Fund now owns 425,325 shares of the open-source software company’s stock worth $47,152,000 after buying an additional 38,825 shares during the period. Finally, Retirement Systems of Alabama increased its stake in Red Hat by 19.0% during the 3rd quarter. Retirement Systems of Alabama now owns 406,095 shares of the open-source software company’s stock worth $45,020,000 after buying an additional 64,901 shares during the period. 95.42% of the stock is currently owned by hedge funds and other institutional investors.
Several brokerages recently weighed in on RHT. Deutsche Bank AG reaffirmed a “buy” rating and set a $120.00 target price (up from $110.00) on shares of Red Hat in a research note on Tuesday, September 26th. Wells Fargo & Company reaffirmed an “outperform” rating and set a $120.00 target price (up from $115.00) on shares of Red Hat in a research note on Tuesday, September 19th. Robert W. Baird reiterated a “hold” rating on shares of Red Hat in a report on Tuesday, September 26th. Cowen and Company reiterated an “outperform” rating and set a $120.00 price target on shares of Red Hat in a report on Sunday, September 24th. Finally, Drexel Hamilton reiterated a “buy” rating and set a $130.00 price target (up previously from $127.00) on shares of Red Hat in a report on Monday, September 25th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and twenty-four have given a buy rating to the company. Red Hat has a consensus rating of “Buy” and a consensus target price of $110.93.
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Red Hat, Inc. (NYSE:RHT) opened at $126.63 on Friday. The company has a market cap of $22,075.62, a price-to-earnings ratio of 68.03, a price-to-earnings-growth ratio of 3.93 and a beta of 1.18. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.30 and a current ratio of 1.30. Red Hat, Inc. has a 12-month low of $68.54 and a 12-month high of $126.67.
Red Hat (NYSE:RHT) last announced its quarterly earnings data on Monday, September 25th. The open-source software company reported $0.77 EPS for the quarter, topping the Zacks’ consensus estimate of $0.67 by $0.10. The company had revenue of $723.60 million during the quarter, compared to the consensus estimate of $699.56 million. Red Hat had a net margin of 11.49% and a return on equity of 25.27%. Red Hat’s quarterly revenue was up 20.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.55 EPS. sell-side analysts expect that Red Hat, Inc. will post 2 earnings per share for the current year.
In related news, CEO James M. Whitehurst sold 12,000 shares of the stock in a transaction dated 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 sale, the chief executive officer now directly owns 392,979 shares of the company’s stock, valued at approximately $43,679,615.85. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Michael A. Kelly sold 2,888 shares of the stock in a transaction dated Wednesday, October 18th. The shares were sold at an average price of $121.03, for a total transaction of $349,534.64. Following the completion of the sale, the insider now directly owns 8,751 shares in the company, valued at $1,059,133.53. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 234,172 shares of company stock valued at $4,072,377. 0.66% of the stock is owned by insiders.
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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