Red Hat Inc. (RHT) Stake Increased by Shell Asset Management Co.
Shell Asset Management Co. boosted its stake in Red Hat Inc. (NYSE:RHT) by 48.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,696 shares of the open-source software company’s stock after buying an additional 6,102 shares during the period. Shell Asset Management Co.’s holdings in Red Hat were worth $1,357,000 at the end of the most recent reporting period.
A number of other large investors have also recently modified their holdings of the company. Hills Bank & Trust Co. purchased a new stake in shares of Red Hat during the second quarter valued at about $222,000. Acrospire Investment Management LLC purchased a new stake in shares of Red Hat during the first quarter valued at about $261,000. Creative Planning raised its stake in shares of Red Hat by 4.5% in the second quarter. Creative Planning now owns 4,019 shares of the open-source software company’s stock valued at $292,000 after buying an additional 174 shares during the period. YHB Investment Advisors Inc. purchased a new stake in shares of Red Hat during the second quarter valued at about $302,000. Finally, Capital One National Association purchased a new stake in shares of Red Hat during the second quarter valued at about $317,000. 94.81% of the stock is owned by hedge funds and other institutional investors.
Shares of Red Hat Inc. (NYSE:RHT) traded up 0.84% during mid-day trading on Friday, reaching $80.83. The company’s stock had a trading volume of 1,678,171 shares. The firm’s 50 day moving average is $75.06 and its 200 day moving average is $74.58. The firm has a market cap of $14.58 billion, a PE ratio of 67.98 and a beta of 1.32. Red Hat Inc. has a one year low of $59.59 and a one year high of $84.44.
Red Hat (NYSE:RHT) last announced its quarterly earnings data on Wednesday, September 21st. The open-source software company reported $0.55 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.54 by $0.01. The business earned $599.80 million during the quarter. Red Hat had a net margin of 9.84% and a return on equity of 18.93%. The firm’s revenue for the quarter was up 19.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.47 EPS. On average, equities analysts anticipate that Red Hat Inc. will post $2.24 earnings per share for the current fiscal year.
Several equities research analysts have issued reports on RHT shares. Drexel Hamilton reaffirmed a “buy” rating and set a $105.00 price target on shares of Red Hat in a research note on Monday, June 20th. Deutsche Bank AG reaffirmed a “buy” rating on shares of Red Hat in a research note on Friday, June 17th. Royal Bank Of Canada reaffirmed a “buy” rating on shares of Red Hat in a research note on Thursday, June 16th. Stifel Nicolaus reaffirmed a “buy” rating on shares of Red Hat in a research note on Thursday, June 23rd. Finally, Robert W. Baird reissued a “buy” rating on shares of Red Hat in a research note on Thursday, June 23rd. One analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-three have assigned a buy rating to the stock. Red Hat has a consensus rating of “Buy” and a consensus target price of $89.16.
In other news, EVP Delisa Alexander sold 2,395 shares of Red Hat stock in a transaction that occurred on Tuesday, July 19th. The shares were sold at an average price of $72.83, for a total transaction of $174,427.85. Following the completion of the sale, the executive vice president now owns 60,780 shares of the company’s stock, valued at $4,426,607.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Michael Cunningham sold 10,000 shares of Red Hat stock in a transaction that occurred on Monday, July 11th. The shares were sold at an average price of $73.14, for a total transaction of $731,400.00. Following the sale, the executive vice president now directly owns 64,800 shares of the company’s stock, valued at approximately $4,739,472. The disclosure for this sale can be found here. Insiders own 0.76% of the company’s stock.
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.
Want to see what other hedge funds are holding RHT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Red Hat Inc. (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.