Gagnon Securities LLC Sells 3,350 Shares of Red Hat, Inc. (RHT)
Gagnon Securities LLC lowered its position in shares of Red Hat, Inc. (NYSE:RHT) by 2.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 132,338 shares of the open-source software company’s stock after selling 3,350 shares during the period. Red Hat comprises about 38.7% of Gagnon Securities LLC’s portfolio, making the stock its largest position. Gagnon Securities LLC owned 0.07% of Red Hat worth $139,598,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently modified their holdings of RHT. State of Alaska Department of Revenue acquired a new stake in Red Hat during the second quarter worth $122,000. Bronfman E.L. Rothschild L.P. increased its stake in Red Hat by 1.4% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 1,521 shares of the open-source software company’s stock worth $132,000 after buying an additional 21 shares in the last quarter. YorkBridge Wealth Partners LLC increased its stake in Red Hat by 102.4% in the first quarter. YorkBridge Wealth Partners LLC now owns 1,538 shares of the open-source software company’s stock worth $136,000 after buying an additional 778 shares in the last quarter. CENTRAL TRUST Co increased its stake in Red Hat by 8.2% in the first quarter. CENTRAL TRUST Co now owns 1,839 shares of the open-source software company’s stock worth $159,000 after buying an additional 139 shares in the last quarter. Finally, Point72 Asia Hong Kong Ltd acquired a new stake in Red Hat during the first quarter worth $170,000. 94.50% of the stock is currently owned by institutional investors and hedge funds.
Red Hat, Inc. (NYSE RHT) traded up 0.02% on Friday, hitting $98.94. The stock had a trading volume of 861,926 shares. The firm has a market cap of $17.56 billion, a PE ratio of 67.77 and a beta of 1.26. The company’s 50 day moving average is $94.50 and its 200 day moving average is $85.62. Red Hat, Inc. has a 12-month low of $68.54 and a 12-month high of $100.80.
Red Hat (NYSE:RHT) last announced its quarterly earnings data on Tuesday, June 20th. The open-source software company reported $0.56 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.53 by $0.03. The firm had revenue of $677 million during the quarter, compared to analyst estimates of $647.42 million. Red Hat had a return on equity of 22.84% and a net margin of 10.54%. Red Hat’s quarterly revenue was up 19.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.50 earnings per share. On average, equities research analysts expect that Red Hat, Inc. will post $2.66 EPS for the current fiscal year.
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RHT has been the topic of a number of recent research reports. Drexel Hamilton upped their target price on shares of Red Hat to $110.00 in a research report on Tuesday, March 28th. Mizuho upped their price target on shares of Red Hat from $94.00 to $96.00 and gave the stock a “buy” rating in a research note on Tuesday, March 28th. BTIG Research upped their price target on shares of Red Hat from $90.00 to $95.00 and gave the stock a “buy” rating in a research note on Tuesday, March 28th. Deutsche Bank AG dropped their price target on shares of Red Hat from $100.00 to $90.00 and set a “buy” rating on the stock in a research note on Tuesday, March 28th. Finally, Citigroup Inc. dropped their price target on shares of Red Hat from $105.00 to $91.00 and set a “buy” rating on the stock in a research note on Tuesday, March 28th. Nine equities research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company’s stock. Red Hat currently has an average rating of “Buy” and an average price target of $98.72.
In related news, EVP Delisa Alexander sold 2,444 shares of the business’s stock in a transaction dated Tuesday, July 18th. The stock was sold at an average price of $98.25, for a total value of $240,123.00. Following the completion of the sale, the executive vice president now directly owns 41,570 shares of the company’s stock, valued at $4,084,252.50. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO James M. Whitehurst sold 47,608 shares of the business’s stock in a transaction dated Monday, May 1st. The shares were sold at an average price of $88.11, for a total value of $4,194,740.88. Following the completion of the sale, the chief executive officer now directly owns 397,380 shares of the company’s stock, valued at $35,013,151.80. The disclosure for this sale can be found here. Over the last three months, insiders sold 245,121 shares of company stock valued at $22,166,786. 0.66% of the stock is owned by corporate insiders.
About Red Hat
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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