Keel Point LLC Boosts Stake in Red Hat, Inc. (RHT)
Keel Point LLC increased its position in Red Hat, Inc. (NYSE:RHT) by 0.2% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 2,683 shares of the open-source software company’s stock after purchasing an additional 6 shares during the period. Keel Point LLC’s holdings in Red Hat were worth $257,000 at the end of the most recent quarter.
Other institutional investors have also recently bought and sold shares of the company. US Bancorp DE lifted its holdings in shares of Red Hat by 1.0% in the 2nd quarter. US Bancorp DE now owns 84,508 shares of the open-source software company’s stock valued at $8,091,000 after purchasing an additional 870 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in shares of Red Hat by 17.6% in the 2nd 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 purchasing an additional 86,292 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec lifted its holdings in shares of Red Hat by 6.9% in the 1st 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 purchasing an additional 1,100 shares during the last quarter. Northwestern Mutual Investment Management Company LLC lifted its holdings in shares of Red Hat by 1,271.7% in the 2nd quarter. Northwestern Mutual Investment Management Company LLC now owns 494,347 shares of the open-source software company’s stock valued at $35,890,000 after purchasing an additional 458,307 shares during the last quarter. Finally, Hillview Capital Advisors LLC purchased a new stake in shares of Red Hat in the 2nd quarter valued at about $345,000. 94.03% of the stock is owned by institutional investors and hedge funds.
RHT has been the subject of several research reports. Goldman Sachs Group, Inc. (The) boosted their target price on Red Hat from $85.00 to $97.00 and gave the company a “buy” rating in a report on Wednesday, June 21st. BTIG Research reduced their target price on Red Hat from $120.00 to $95.00 and set a “buy” rating for the company in a report on Wednesday, June 21st. Stifel Nicolaus raised Red Hat from a “hold” rating to a “buy” rating and boosted their target price for the company from $83.00 to $115.00 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 for the company in a report on Wednesday, June 21st. Finally, Deutsche Bank AG upped their price objective on Red Hat from $100.00 to $110.00 and gave the company a “buy” rating in a research note on Wednesday, June 21st. Ten equities research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $110.93.
In other Red Hat news, CEO James M. Whitehurst sold 9,122 shares of Red Hat stock in a transaction that occurred on Tuesday, July 18th. The shares were sold at an average price of $98.02, for a total value of $894,138.44. Following the transaction, the chief executive officer now owns 414,101 shares in the company, valued at $40,590,180.02. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director William S. Kaiser sold 14,000 shares of Red Hat stock in a transaction that occurred on Thursday, October 5th. The stock was sold at an average price of $114.79, for a total transaction of $1,607,060.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 39,087 shares of company stock worth $4,227,191. 0.66% of the stock is currently owned by company insiders.
Shares of Red Hat, Inc. (NYSE RHT) traded up 0.16% during midday trading on Friday, reaching $121.10. The company’s stock had a trading volume of 1,553,142 shares. Red Hat, Inc. has a 12 month low of $68.54 and a 12 month high of $122.31. The stock has a market capitalization of $21.43 billion, a PE ratio of 72.47 and a beta of 1.25. The stock’s 50 day moving average is $110.00 and its 200 day moving average is $97.02.
Red Hat (NYSE:RHT) last posted its quarterly earnings results on Monday, September 25th. The open-source software company reported $0.77 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.67 by $0.10. The firm had revenue of $723.60 million for the quarter, compared to analyst estimates of $699.56 million. Red Hat had a net margin of 11.49% and a return on equity of 25.27%. The firm’s quarterly revenue was up 20.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.55 earnings per share. On average, analysts forecast that Red Hat, Inc. will post $2.79 EPS for the current fiscal year.
Red Hat 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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