Norinchukin Bank The raised its holdings in Red Hat, Inc. (NYSE:RHT) by 6.5% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 12,337 shares of the open-source software company’s stock after acquiring an additional 752 shares during the quarter. Norinchukin Bank The’s holdings in Red Hat were worth $1,181,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. US Bancorp DE boosted its stake in Red Hat by 1.0% in the second quarter. US Bancorp DE now owns 84,508 shares of the open-source software company’s stock valued at $8,091,000 after acquiring an additional 870 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in Red Hat by 17.6% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 576,206 shares of the open-source software company’s stock valued at $55,172,000 after acquiring an additional 86,292 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec boosted its stake in Red Hat by 6.9% in the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 17,104 shares of the open-source software company’s stock valued at $1,481,000 after acquiring an additional 1,100 shares during the last quarter. Hillview Capital Advisors LLC bought a new position in Red Hat in the second quarter valued at approximately $345,000. Finally, FMR LLC boosted its stake in Red Hat by 3.3% in the first quarter. FMR LLC now owns 10,079,689 shares of the open-source software company’s stock valued at $871,894,000 after acquiring an additional 317,464 shares during the last quarter. 94.00% of the stock is currently owned by hedge funds and other institutional investors.
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In other news, CEO James M. Whitehurst sold 12,000 shares of the business’s stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $95.70, for a total value of $1,148,400.00. Following the completion of the sale, the chief executive officer now directly owns 422,873 shares in the company, valued at approximately $40,468,946.10. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Eric Ryan Shander sold 1,521 shares of the business’s stock in a transaction that occurred on Wednesday, July 26th. The stock was sold at an average price of $99.98, for a total transaction of $152,069.58. Following the completion of the sale, the chief financial officer now owns 9,913 shares of the company’s stock, valued at $991,101.74. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 44,087 shares of company stock valued at $4,265,012. Company insiders own 0.66% of the company’s stock.
RHT has been the topic of a number of recent research reports. Barclays PLC raised their price objective on shares of Red Hat from $105.00 to $120.00 and gave the company an “overweight” rating in a research note on Monday. Oppenheimer Holdings, Inc. reissued an “outperform” rating and set a $105.00 price target (up from $96.00) on shares of Red Hat in a research report on Thursday, June 22nd. Piper Jaffray Companies assumed coverage on shares of Red Hat in a research report on Friday, June 23rd. They set a “neutral” rating and a $100.00 price target on the stock. Zacks Investment Research cut shares of Red Hat from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 22nd. Finally, MKM Partners reissued a “neutral” rating and set a $98.00 price target (up from $82.00) on shares of Red Hat in a research report on Friday, June 23rd. Eleven equities research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $101.46.
Red Hat, Inc. (RHT) opened at 107.30 on Monday. The firm has a market capitalization of $19.04 billion, a price-to-earnings ratio of 73.49 and a beta of 1.24. The stock’s 50 day moving average is $102.94 and its 200 day moving average is $92.77. Red Hat, Inc. has a 1-year low of $68.54 and a 1-year high of $108.13.
Red Hat (NYSE:RHT) last announced its earnings results on Tuesday, June 20th. The open-source software company reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.03. The business had revenue of $677.00 million during the quarter, compared to analyst estimates of $647.42 million. Red Hat had a net margin of 10.54% and a return on equity of 22.84%. Red Hat’s revenue for the quarter was up 19.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.50 earnings per share. Analysts predict that Red Hat, Inc. will post $2.69 EPS for the current fiscal year.
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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