Red Hat, Inc. (RHT) Shares Bought by Northern Trust Corp
Northern Trust Corp raised its holdings in Red Hat, Inc. (NYSE:RHT) by 28.8% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,794,946 shares of the open-source software company’s stock after purchasing an additional 848,777 shares during the quarter. Northern Trust Corp owned 2.14% of Red Hat worth $363,365,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of RHT. D.A. Davidson & CO. boosted its holdings in shares of Red Hat by 6.8% in the 2nd quarter. D.A. Davidson & CO. now owns 1,071 shares of the open-source software company’s stock valued at $102,000 after purchasing an additional 68 shares in the last quarter. Shine Investment Advisory Services Inc. acquired a new stake in shares of Red Hat in the 2nd quarter valued at $117,000. State of Alaska Department of Revenue acquired a new stake in shares of Red Hat in the 2nd quarter valued at $122,000. Global X Management Co. LLC boosted its holdings in shares of Red Hat by 91.3% in the 2nd quarter. Global X Management Co. LLC now owns 1,542 shares of the open-source software company’s stock valued at $148,000 after purchasing an additional 736 shares in the last quarter. Finally, Bronfman E.L. Rothschild L.P. boosted its holdings in shares of Red Hat by 14.9% in the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 1,747 shares of the open-source software company’s stock valued at $167,000 after purchasing an additional 226 shares in the last quarter. 94.00% of the stock is currently owned by hedge funds and other institutional investors.
In related news, CFO Eric Ryan Shander sold 1,521 shares of Red Hat stock in a transaction dated Wednesday, July 26th. The shares were sold at an average price of $99.98, for a total transaction of $152,069.58. Following the completion of the transaction, the chief financial officer now directly owns 9,913 shares of the company’s stock, valued at approximately $991,101.74. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, 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 transaction, the director now directly owns 91,808 shares of the company’s stock, valued at $8,853,045.44. The disclosure for this sale can be found here. Insiders have sold a total of 44,087 shares of company stock worth $4,265,012 over the last 90 days. Insiders own 0.66% of the company’s stock.
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Shares of Red Hat, Inc. (RHT) traded down 0.6952% during mid-day trading on Thursday, hitting $106.2462. The stock had a trading volume of 183,427 shares. The stock’s 50-day moving average is $103.44 and its 200 day moving average is $93.28. The firm has a market capitalization of $18.85 billion, a price-to-earnings ratio of 72.7714 and a beta of 1.24. Red Hat, Inc. has a 1-year low of $68.54 and a 1-year high of $108.39.
Red Hat (NYSE:RHT) last issued its earnings results on Tuesday, June 20th. The open-source software company reported $0.56 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.53 by $0.03. Red Hat had a net margin of 10.54% and a return on equity of 22.84%. The company had revenue of $677.00 million for the quarter, compared to analysts’ expectations of $647.42 million. During the same quarter last year, the company posted $0.50 earnings per share. The firm’s quarterly revenue was up 19.2% on a year-over-year basis. Equities research analysts predict that Red Hat, Inc. will post $2.69 EPS for the current fiscal year.
A number of brokerages have weighed in on RHT. Drexel Hamilton reaffirmed a “buy” rating and issued a $127.00 target price on shares of Red Hat in a report on Tuesday. Deutsche Bank AG raised their target price on Red Hat from $100.00 to $110.00 and gave the company a “buy” rating in a report on Wednesday, June 21st. Mizuho reduced their target price on Red Hat from $109.00 to $96.00 and set a “buy” rating on the stock in a report on Wednesday, June 21st. Piper Jaffray Companies reaffirmed a “hold” rating and issued a $100.00 target price on shares of Red Hat in a report on Sunday, August 27th. Finally, Pacific Crest reduced their target price on Red Hat from $115.00 to $97.00 and set an “overweight” rating on the stock in a report on Wednesday, June 21st. Eleven analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $102.72.
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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