American International Group Inc. lowered its stake in Red Hat Inc (NYSE:RHT) by 1.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 65,746 shares of the open-source software company’s stock after selling 804 shares during the period. American International Group Inc.’s holdings in Red Hat were worth $11,548,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in RHT. Alpha Omega Wealth Management LLC acquired a new position in shares of Red Hat in the fourth quarter valued at approximately $25,000. Athena Capital Advisors LLC acquired a new position in shares of Red Hat in the fourth quarter valued at approximately $27,000. Berman Capital Advisors LLC acquired a new position in shares of Red Hat in the fourth quarter valued at approximately $27,000. Legacy Financial Advisors Inc. acquired a new position in shares of Red Hat in the fourth quarter valued at approximately $33,000. Finally, Lindbrook Capital LLC acquired a new position in shares of Red Hat in the fourth quarter valued at approximately $47,000. 88.56% of the stock is currently owned by institutional investors and hedge funds.

Shares of RHT stock opened at $181.67 on Friday. Red Hat Inc has a 1-year low of $115.31 and a 1-year high of $183.54. The firm has a market cap of $32.10 billion, a P/E ratio of 78.99, a price-to-earnings-growth ratio of 4.02 and a beta of 0.55. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.23.

Red Hat (NYSE:RHT) last announced its quarterly earnings data on Monday, December 17th. The open-source software company reported $0.96 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.87 by $0.09. The firm had revenue of $847.00 million for the quarter, compared to analyst estimates of $852.79 million. Red Hat had a return on equity of 33.96% and a net margin of 8.66%. Red Hat’s quarterly revenue was up 13.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.73 earnings per share. Equities analysts predict that Red Hat Inc will post 2.63 EPS for the current fiscal year.

A number of research firms have recently issued reports on RHT. Zacks Investment Research raised Red Hat from a “hold” rating to a “buy” rating and set a $194.00 target price on the stock in a report on Monday, December 31st. Monness Crespi & Hardt reissued a “buy” rating and issued a $190.00 target price (up previously from $186.00) on shares of Red Hat in a report on Monday, December 10th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. Red Hat has an average rating of “Hold” and a consensus target price of $166.54.

In other Red Hat news, EVP Michael Cunningham sold 25,000 shares of the business’s stock in a transaction on Thursday, February 7th. The stock was sold at an average price of $178.79, for a total transaction of $4,469,750.00. Following the sale, the executive vice president now directly owns 25,071 shares in the company, valued at $4,482,444.09. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.58% of the stock is currently owned by insiders.

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About Red Hat

Red Hat, Inc provides open source software solutions to develop and offer operating system, virtualization, management, middleware, cloud, mobile, and storage technologies to various enterprises worldwide. It offers infrastructure-related solutions, such as Red Hat Enterprise Linux, an operating system platform that runs on hardware for use in hybrid cloud environments; Red Hat Satellite, a system management offering that helps to deploy, scale, and manage in hybrid cloud environments; and Red Hat Enterprise Virtualization, a software solution that allows customers to utilize and manage a common hardware infrastructure to run multiple operating systems and applications.

See Also: Intrinsic Value

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Institutional Ownership by Quarter for Red Hat (NYSE:RHT)

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