TRUE Private Wealth Advisors bought a new stake in Red Hat Inc (NYSE:RHT) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 4,957 shares of the open-source software company’s stock, valued at approximately $595,000.
Other large investors have also recently added to or reduced their stakes in the company. D.A. Davidson & CO. lifted its holdings in shares of Red Hat by 6.8% during the 2nd quarter. D.A. Davidson & CO. now owns 1,071 shares of the open-source software company’s stock worth $102,000 after acquiring an additional 68 shares during the period. Clear Perspective Advisors LLC acquired a new stake in Red Hat during the 2nd quarter worth approximately $112,000. Sun Life Financial INC increased its position in Red Hat by 14,837.5% during the 2nd quarter. Sun Life Financial INC now owns 1,195 shares of the open-source software company’s stock worth $114,000 after purchasing an additional 1,187 shares in the last quarter. BB&T Investment Services Inc. acquired a new stake in Red Hat during the 2nd quarter worth approximately $135,000. Finally, Zions Bancorporation acquired a new stake in Red Hat during the 3rd quarter worth approximately $164,000. Institutional investors own 95.42% of the company’s stock.
Several analysts have issued reports on RHT shares. Zacks Investment Research downgraded shares of Red Hat from a “buy” rating to a “hold” rating in a research report on Wednesday, December 27th. Northland Securities reaffirmed a “buy” rating and issued a $150.00 price objective on shares of Red Hat in a research report on Thursday, December 21st. Mizuho increased their price objective on shares of Red Hat from $125.00 to $140.00 and gave the company a “buy” rating in a research report on Wednesday, December 13th. Credit Suisse Group reissued a “neutral” rating and set a $120.00 price target (up previously from $113.00) on shares of Red Hat in a research report on Wednesday, December 20th. Finally, Bank of America reissued an “underperform” rating and set a $115.00 price target on shares of Red Hat in a research report on Tuesday, October 24th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and twenty-three have assigned a buy rating to the company. Red Hat presently has a consensus rating of “Buy” and an average target price of $126.65.
In other 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 of the company’s stock, valued at $46,639,694.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director William S. Kaiser sold 7,700 shares of the firm’s stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $130.00, for a total value of $1,001,000.00. Following the transaction, the director now directly owns 61,652 shares in the company, valued at $8,014,760. The disclosure for this sale can be found here. Insiders have sold 14,686 shares of company stock worth $1,873,342 over the last three months. Corporate insiders own 0.66% of the company’s stock.
Red Hat Inc (NYSE RHT) traded up $2.19 during mid-day trading on Friday, reaching $126.84. The company’s stock had a trading volume of 1,938,101 shares, compared to its average volume of 1,586,465. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.37 and a quick ratio of 1.37. The company has a market capitalization of $22,451.19, a PE ratio of 69.31, a price-to-earnings-growth ratio of 3.87 and a beta of 1.23. Red Hat Inc has a 12 month low of $78.66 and a 12 month high of $135.77.
Red Hat (NYSE:RHT) last posted its earnings results on Tuesday, December 19th. The open-source software company reported $0.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.70 by $0.03. The company had revenue of $747.98 million for 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 firm’s quarterly revenue was up 21.6% compared to the same quarter last year. During the same period last year, the business posted $0.61 earnings per share. analysts predict that Red Hat Inc will post 2.08 EPS for the current fiscal 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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