Rhumbline Advisers Sells 8,772 Shares of Red Hat, Inc. (RHT)

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.

ILLEGAL ACTIVITY NOTICE: This report was posted by Sports Perspectives and is the sole property of of Sports Perspectives. If you are accessing this report on another site, it was copied illegally and reposted in violation of international trademark and copyright law. The correct version of this report can be read at https://sportsperspectives.com/2017/11/17/rhumbline-advisers-sells-8772-shares-of-red-hat-inc-rht.html.

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.

Institutional Ownership by Quarter for Red Hat (NYSE:RHT)

Receive News & Ratings for Red Hat Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Red Hat Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply