Red Hat, Inc. (RHT) Shares Sold by Argent Capital Management LLC

Argent Capital Management LLC trimmed its stake in Red Hat, Inc. (NYSE:RHT) by 1.7% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 702,535 shares of the open-source software company’s stock after selling 12,410 shares during the period. Red Hat makes up about 2.7% of Argent Capital Management LLC’s portfolio, making the stock its 9th biggest position. Argent Capital Management LLC owned about 0.40% of Red Hat worth $67,268,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of RHT. D.A. Davidson & CO. lifted its stake 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 during the last quarter. Clear Perspective Advisors LLC bought a new stake in shares of Red Hat in the 2nd quarter valued at approximately $112,000. Sun Life Financial INC lifted its stake in shares of Red Hat by 14,837.5% in the 2nd quarter. Sun Life Financial INC now owns 1,195 shares of the open-source software company’s stock valued at $114,000 after purchasing an additional 1,187 shares during the last quarter. Shine Investment Advisory Services Inc. bought a new stake in shares of Red Hat in the 2nd quarter valued at approximately $117,000. Finally, State of Alaska Department of Revenue bought a new stake in shares of Red Hat in the 2nd quarter valued at approximately $122,000. 94.03% of the stock is owned by institutional investors and hedge funds.

Red Hat, Inc. (NYSE RHT) traded up 1.33% during trading on Friday, reaching $117.06. The company had a trading volume of 2,041,735 shares. Red Hat, Inc. has a 1-year low of $68.54 and a 1-year high of $117.22. The firm has a 50-day moving average of $107.71 and a 200-day moving average of $95.69. The stock has a market capitalization of $20.71 billion, a price-to-earnings ratio of 70.05 and a beta of 1.25.

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, beating the Zacks’ consensus estimate of $0.67 by $0.10. Red Hat had a net margin of 11.49% and a return on equity of 25.27%. The company had revenue of $723.60 million during the quarter, compared to the consensus estimate of $699.56 million. During the same period last year, the firm earned $0.55 EPS. The company’s revenue for the quarter was up 20.6% on a year-over-year basis. On average, analysts anticipate that Red Hat, Inc. will post $2.79 EPS for the current fiscal year.

Several equities research analysts have recently issued reports on the company. Deutsche Bank AG reaffirmed a “buy” rating and issued a $130.00 price objective on shares of Red Hat in a research note on Monday, October 2nd. BTIG Research reaffirmed a “buy” rating and issued a $120.00 price objective on shares of Red Hat in a research note on Wednesday, September 27th. Wells Fargo & Company reaffirmed an “outperform” rating and issued a $124.00 price objective (up from $120.00) on shares of Red Hat in a research note on Wednesday, September 27th. KeyCorp reissued an “overweight” rating and set a $125.00 price target (up from $121.00) on shares of Red Hat in a research note on Tuesday, September 26th. Finally, Oppenheimer Holdings, Inc. raised their price target on Red Hat from $105.00 to $125.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 26th. Ten equities research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the stock. Red Hat currently has a consensus rating of “Buy” and an average target price of $110.93.

In other news, Director William S. Kaiser sold 14,000 shares of Red Hat stock in a transaction that occurred on Thursday, October 5th. The shares were sold at an average price of $114.79, for a total transaction of $1,607,060.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 transaction of $894,138.44. Following the sale, the chief executive officer now owns 414,101 shares of the company’s stock, valued at $40,590,180.02. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 39,087 shares of company stock valued at $4,227,191. Insiders own 0.66% of the company’s stock.

COPYRIGHT VIOLATION NOTICE: “Red Hat, Inc. (RHT) Shares Sold by Argent Capital Management LLC” was originally published by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are accessing this piece of content on another website, it was copied illegally and republished in violation of US & international copyright laws. The correct version of this piece

Several other large investors also recently bought and sold shares of RHT. D.A. Davidson & CO. lifted its stake 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 during the last quarter. Clear Perspective Advisors LLC bought a new stake in shares of Red Hat in the 2nd quarter valued at approximately $112,000. Sun Life Financial INC lifted its stake in shares of Red Hat by 14,837.5% in the 2nd quarter. Sun Life Financial INC now owns 1,195 shares of the open-source software company’s stock valued at $114,000 after purchasing an additional 1,187 shares during the last quarter. Shine Investment Advisory Services Inc. bought a new stake in shares of Red Hat in the 2nd quarter valued at approximately $117,000. Finally, State of Alaska Department of Revenue bought a new stake in shares of Red Hat in the 2nd quarter valued at approximately $122,000. 94.03% of the stock is owned by institutional investors and hedge funds.

Red Hat, Inc. (NYSE RHT) traded up 1.33% during trading on Friday, reaching $117.06. The company had a trading volume of 2,041,735 shares. Red Hat, Inc. has a 1-year low of $68.54 and a 1-year high of $117.22. The firm has a 50-day moving average of $107.71 and a 200-day moving average of $95.69. The stock has a market capitalization of $20.71 billion, a price-to-earnings ratio of 70.05 and a beta of 1.25.

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, beating the Zacks’ consensus estimate of $0.67 by $0.10. Red Hat had a net margin of 11.49% and a return on equity of 25.27%. The company had revenue of $723.60 million during the quarter, compared to the consensus estimate of $699.56 million. During the same period last year, the firm earned $0.55 EPS. The company’s revenue for the quarter was up 20.6% on a year-over-year basis. On average, analysts anticipate that Red Hat, Inc. will post $2.79 EPS for the current fiscal year.

Several equities research analysts have recently issued reports on the company. Deutsche Bank AG reaffirmed a “buy” rating and issued a $130.00 price objective on shares of Red Hat in a research note on Monday, October 2nd. BTIG Research reaffirmed a “buy” rating and issued a $120.00 price objective on shares of Red Hat in a research note on Wednesday, September 27th. Wells Fargo & Company reaffirmed an “outperform” rating and issued a $124.00 price objective (up from $120.00) on shares of Red Hat in a research note on Wednesday, September 27th. KeyCorp reissued an “overweight” rating and set a $125.00 price target (up from $121.00) on shares of Red Hat in a research note on Tuesday, September 26th. Finally, Oppenheimer Holdings, Inc. raised their price target on Red Hat from $105.00 to $125.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 26th. Ten equities research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the stock. Red Hat currently has a consensus rating of “Buy” and an average target price of $110.93.

In other news, Director William S. Kaiser sold 14,000 shares of Red Hat stock in a transaction that occurred on Thursday, October 5th. The shares were sold at an average price of $114.79, for a total transaction of $1,607,060.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 transaction of $894,138.44. Following the sale, the chief executive officer now owns 414,101 shares of the company’s stock, valued at $40,590,180.02. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 39,087 shares of company stock valued at $4,227,191. Insiders own 0.66% of the company’s stock.

COPYRIGHT VIOLATION NOTICE: “Red Hat, Inc. (RHT) Shares Sold by Argent Capital Management LLC” was originally published by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are accessing this piece of content on another website, it was copied illegally and republished in violation of US & international copyright laws. The correct version of this piece of content can be viewed at https://ledgergazette.com/2017/10/08/red-hat-inc-rht-shares-sold-by-argent-capital-management-llc.html.

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.

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

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