State of Tennessee Treasury Department increased its holdings in shares of Red Hat, Inc. (NYSE:RHT) by 33.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 64,837 shares of the company’s stock after purchasing an additional 16,212 shares during the quarter. State of Tennessee Treasury Department’s holdings in Red Hat were worth $7,188,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in Red Hat by 2.8% during the second quarter. Vanguard Group Inc. now owns 17,627,522 shares of the company’s stock worth $1,687,836,000 after purchasing an additional 479,615 shares during the last quarter. FMR LLC boosted its holdings in Red Hat by 10.8% during the second quarter. FMR LLC now owns 11,165,642 shares of the company’s stock worth $1,069,110,000 after purchasing an additional 1,085,953 shares during the last quarter. Northern Trust Corp boosted its holdings in Red Hat by 28.8% during the second quarter. Northern Trust Corp now owns 3,794,946 shares of the company’s stock worth $363,365,000 after purchasing an additional 848,777 shares during the last quarter. TIAA CREF Investment Management LLC boosted its holdings in Red Hat by 34.4% during the second quarter. TIAA CREF Investment Management LLC now owns 1,302,954 shares of the company’s stock worth $124,758,000 after purchasing an additional 333,408 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its holdings in Red Hat by 282.6% during the second quarter. Arrowstreet Capital Limited Partnership now owns 1,177,208 shares of the company’s stock worth $112,718,000 after purchasing an additional 869,550 shares during the last quarter. Institutional investors and hedge funds own 95.42% of the company’s stock.
Red Hat, Inc. (NYSE:RHT) opened at C$124.18 on Monday. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 0.54. Red Hat, Inc. has a 1-year low of C$68.54 and a 1-year high of C$124.56. The company has a market cap of $22,139.80, a PE ratio of 68.23, a price-to-earnings-growth ratio of 3.95 and a beta of 1.18.
Red Hat (NYSE:RHT) last released its earnings results on Monday, September 25th. The company reported C$0.77 EPS for the quarter, beating the consensus estimate of C$0.67 by C$0.10. Red Hat had a net margin of 11.49% and a return on equity of 25.27%. The firm had revenue of C$723.60 million for the quarter, compared to analyst estimates of C$699.56 million. During the same period last year, the firm earned $0.55 EPS. The business’s quarterly revenue was up 20.6% compared to the same quarter last year. equities research analysts predict that Red Hat, Inc. will post 2 earnings per share for the current year.
Several research analysts recently commented on RHT shares. Credit Suisse Group started coverage on shares of Red Hat in a report on Tuesday, September 5th. They set a “neutral” rating and a $111.00 target price for the company. Bank of America Corporation restated an “underperform” rating and set a $115.00 target price on shares of Red Hat in a report on Tuesday, October 24th. Piper Jaffray Companies restated a “hold” rating and set a $100.00 target price on shares of Red Hat in a report on Sunday, August 27th. Moffett Nathanson began coverage on shares of Red Hat in a research note on Wednesday, September 6th. They issued a “buy” rating for the company. Finally, KeyCorp reiterated an “overweight” rating and issued a $121.00 price target on shares of Red Hat in a research note on Friday, September 8th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and twenty-four have issued a buy rating to the company’s stock. Red Hat currently has a consensus rating of “Buy” and an average target price of C$110.93.
In other news, insider Michael A. Kelly sold 2,888 shares of the firm’s stock in a transaction that occurred on Wednesday, October 18th. The shares were sold at an average price of C$121.03, for a total value of C$349,534.64. Following the sale, the insider now directly owns 8,751 shares in the company, valued at approximately C$1,059,133.53. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Eugene Beukman sold 100,000 shares of the firm’s stock in a transaction that occurred on Friday, November 10th. The shares were sold at an average price of C$0.73, for a total transaction of C$73,000.00. Over the last three months, insiders sold 234,172 shares of company stock worth $4,072,377. Insiders own 0.66% of the company’s stock.
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About Red Hat
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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