Caldwell & Orkin Inc. acquired a new stake in Red Hat, Inc. (NYSE:RHT) during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 6,200 shares of the open-source software company’s stock, valued at approximately $687,000.
A number of other hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its position in Red Hat by 2.8% in the 2nd quarter. Vanguard Group Inc. now owns 17,627,522 shares of the open-source software company’s stock valued at $1,687,836,000 after acquiring an additional 479,615 shares in the last quarter. FMR LLC lifted its holdings in shares of Red Hat by 10.8% during the 2nd quarter. FMR LLC now owns 11,165,642 shares of the open-source software company’s stock valued at $1,069,110,000 after buying an additional 1,085,953 shares during the period. Northern Trust Corp lifted its holdings in shares of Red Hat by 28.8% during the 2nd quarter. Northern Trust Corp now owns 3,794,946 shares of the open-source software company’s stock valued at $363,365,000 after buying an additional 848,777 shares during the period. TIAA CREF Investment Management LLC lifted its holdings in shares of Red Hat by 34.4% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 1,302,954 shares of the open-source software company’s stock valued at $124,758,000 after buying an additional 333,408 shares during the period. Finally, Arrowstreet Capital Limited Partnership lifted its holdings in shares of Red Hat by 282.6% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 1,177,208 shares of the open-source software company’s stock valued at $112,718,000 after buying an additional 869,550 shares during the period. 95.42% of the stock is currently owned by institutional investors and hedge funds.
In other Red Hat news, CEO James M. Whitehurst sold 12,000 shares of the firm’s stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $111.15, for a total value of $1,333,800.00. Following the completion of the sale, the chief executive officer now owns 392,979 shares of the company’s stock, valued at $43,679,615.85. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Eugene Beukman sold 100,000 shares of the firm’s stock in a transaction dated Friday, November 10th. The stock was sold at an average price of $0.73, for a total transaction of $73,000.00. In the last ninety days, insiders sold 234,172 shares of company stock valued at $4,072,377. 0.66% of the stock is owned by insiders.
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Several research firms have recently weighed in on RHT. Robert W. Baird reissued a “hold” rating on shares of Red Hat in a report on Tuesday, September 26th. BTIG Research reissued a “buy” rating and set a $120.00 price target on shares of Red Hat in a report on Wednesday, September 27th. Barclays PLC increased their price target on Red Hat from $120.00 to $122.00 and gave the company an “overweight” rating in a report on Tuesday, September 26th. BMO Capital Markets reissued a “market perform” rating and set a $128.00 price target (up from $107.00) on shares of Red Hat in a report on Tuesday, September 26th. Finally, J P Morgan Chase & Co reissued an “overweight” rating and set a $117.00 price target (up from $110.00) on shares of Red Hat in a report on Tuesday, September 26th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and twenty-four have given a buy rating to the company’s stock. Red Hat has an average rating of “Buy” and an average target price of $110.93.
Shares of Red Hat, Inc. (RHT) traded up $2.36 during trading hours on Thursday, hitting $126.18. 535,163 shares of the company were exchanged, compared to its average volume of 1,666,249. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 0.54. Red Hat, Inc. has a 1 year low of $68.54 and a 1 year high of $124.56. The company has a market cap of $22,280.00, a P/E ratio of 68.40, a price-to-earnings-growth ratio of 3.96 and a beta of 1.18.
Red Hat (NYSE:RHT) last announced its quarterly earnings results on Monday, September 25th. The open-source software company reported $0.77 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 firm had revenue of $723.60 million during the quarter, compared to the consensus estimate of $699.56 million. During the same quarter last year, the firm earned $0.55 EPS. The firm’s revenue for the quarter 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 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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