Bp Plc Has $2,011,000 Position in Red Hat, Inc. (NYSE:RHT)
Bp Plc continued to hold its stake in shares of Red Hat, Inc. (NYSE:RHT) during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 21,000 shares of the open-source software company’s stock at the end of the second quarter. Bp Plc’s holdings in Red Hat were worth $2,011,000 at the end of the most recent quarter.
Other large investors also recently made changes to their positions in the company. Jericho Capital Asset Management L.P. bought a new stake in shares of Red Hat during the first quarter worth about $92,816,000. MARSHALL WACE ASIA Ltd bought a new stake in shares of Red Hat during the first quarter worth about $61,821,000. Marshall Wace North America L.P. bought a new stake in shares of Red Hat during the first quarter worth about $61,821,000. TimesSquare Capital Management LLC bought a new stake in shares of Red Hat during the first quarter worth about $58,586,000. Finally, Vanguard Group Inc. raised its stake in shares of Red Hat by 2.4% in the first quarter. Vanguard Group Inc. now owns 17,147,907 shares of the open-source software company’s stock worth $1,483,294,000 after buying an additional 399,260 shares during the period. 94.27% of the stock is currently owned by institutional investors.
Shares of Red Hat, Inc. (NYSE RHT) opened at 95.95 on Friday. The company has a market cap of $17.03 billion, a P/E ratio of 65.72 and a beta of 1.26. Red Hat, Inc. has a 52 week low of $68.54 and a 52 week high of $101.73. The company’s 50-day moving average price is $97.95 and its 200 day moving average price is $88.21.
Red Hat (NYSE:RHT) last released its earnings results on Tuesday, June 20th. The open-source software company reported $0.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.53 by $0.03. The business had revenue of $677 million for the quarter, compared to the consensus estimate 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 quarter in the previous year, the business earned $0.50 earnings per share. On average, equities analysts forecast 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 analyst reports. Zacks Investment Research raised Red Hat from a “hold” rating to a “strong-buy” rating and set a $101.00 target price on the stock in a research report on Tuesday, May 2nd. BTIG Research cut their target price on Red Hat from $120.00 to $95.00 and set a “buy” rating on the stock in a research report on Wednesday, June 21st. Oppenheimer Holdings, Inc. reissued an “outperform” rating and set a $96.00 price target (up from $94.00) on shares of Red Hat in a research report on Wednesday, May 10th. Sanford C. Bernstein started coverage on Red Hat in a research report on Wednesday, May 24th. They set a “market perform” rating and a $102.00 price target on the stock. Finally, Rosenblatt Securities reissued a “buy” rating and set a $112.00 price target (up from $95.00) on shares of Red Hat in a research report on Thursday, June 22nd. Nine investment analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. Red Hat has a consensus rating of “Buy” and a consensus price target of $98.72.
In related news, Director William S. Kaiser sold 4,006 shares of Red Hat stock in a transaction dated Friday, June 30th. The stock was sold at an average price of $96.43, for a total transaction of $386,298.58. Following the completion of the transaction, the director now owns 91,808 shares in the company, valued at $8,853,045.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Eric Ryan Shander sold 1,521 shares of Red Hat stock in a transaction dated Wednesday, July 26th. The stock was sold at an average price of $99.98, for a total value of $152,069.58. Following the transaction, the chief financial officer now owns 9,913 shares of the company’s stock, valued at approximately $991,101.74. The disclosure for this sale can be found here. In the last ninety days, insiders sold 130,549 shares of company stock worth $12,133,438. 0.66% of the stock is owned by company 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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