Frontier Capital Management Co. LLC lessened its holdings in shares of Red Hat Inc (NYSE:RHT) by 25.5% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 621,059 shares of the open-source software company’s stock after selling 212,231 shares during the quarter. Frontier Capital Management Co. LLC owned 0.35% of Red Hat worth $74,589,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also bought and sold shares of the company. D.A. Davidson & CO. grew its position in Red Hat by 6.8% in the second quarter. D.A. Davidson & CO. now owns 1,071 shares of the open-source software company’s stock valued at $102,000 after acquiring an additional 68 shares in the last quarter. Clear Perspective Advisors LLC acquired a new stake in Red Hat in the second quarter valued at approximately $112,000. Sun Life Financial INC grew its position in Red Hat by 14,837.5% in the second quarter. Sun Life Financial INC now owns 1,195 shares of the open-source software company’s stock valued at $114,000 after acquiring an additional 1,187 shares in the last quarter. BB&T Investment Services Inc. acquired a new stake in Red Hat in the second quarter valued at approximately $135,000. Finally, Zions Bancorporation acquired a new stake in Red Hat in the third quarter valued at approximately $164,000. 94.32% of the stock is owned by hedge funds and other institutional investors.
In related news, CEO James M. Whitehurst sold 5,593 shares of the firm’s stock in a transaction on Wednesday, January 17th. The stock was sold at an average price of $124.87, for a total transaction of $698,397.91. Following the transaction, the chief executive officer now directly owns 373,506 shares in the company, valued at $46,639,694.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Delisa Alexander sold 1,393 shares of the firm’s stock in a transaction on Wednesday, January 17th. The stock was sold at an average price of $124.87, for a total value of $173,943.91. Following the transaction, the executive vice president now owns 36,420 shares in the company, valued at $4,547,765.40. The disclosure for this sale can be found here. Company insiders own 0.66% of the company’s stock.
Several analysts have issued reports on RHT shares. Bank of America reaffirmed a “neutral” rating and issued a $115.00 price objective (up previously from $105.00) on shares of Red Hat in a research report on Tuesday, September 26th. Cowen reaffirmed a “buy” rating and issued a $136.00 price objective on shares of Red Hat in a research report on Monday, December 11th. Wells Fargo & Co reaffirmed an “outperform” rating and issued a $124.00 price objective (up previously from $120.00) on shares of Red Hat in a research report on Wednesday, September 27th. Royal Bank of Canada increased their price objective on shares of Red Hat to $134.00 and gave the company an “outperform” rating in a research report on Thursday, December 14th. Finally, Evercore ISI increased their price objective on shares of Red Hat to $140.00 and gave the company a “buy” rating in a research report on Monday, December 18th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and twenty-two have issued a buy rating to the company’s stock. Red Hat currently has an average rating of “Buy” and a consensus target price of $124.25.
Red Hat Inc (NYSE RHT) opened at $125.47 on Friday. The company has a market capitalization of $22,200.00, a P/E ratio of 68.19, a PEG ratio of 3.87 and a beta of 1.19. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.37 and a current ratio of 1.37. Red Hat Inc has a one year low of $73.46 and a one year high of $130.93.
Red Hat (NYSE:RHT) last released its earnings results on Tuesday, December 19th. The open-source software company reported $0.73 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.70 by $0.03. The company had revenue of $747.98 million during the quarter, compared to analysts’ expectations of $734.69 million. Red Hat had a return on equity of 26.23% and a net margin of 12.14%. The business’s revenue was up 21.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.61 EPS. sell-side analysts anticipate that Red Hat Inc will post 2.08 earnings per share for the current year.
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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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