Arrowstreet Capital Limited Partnership boosted its stake in Red Hat Inc (NYSE:RHT) by 13.8% in the fourth quarter, Holdings Channel reports. The institutional investor owned 2,144,600 shares of the open-source software company’s stock after buying an additional 260,513 shares during the quarter. Arrowstreet Capital Limited Partnership’s holdings in Red Hat were worth $257,566,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Centaurus Financial Inc. purchased a new stake in Red Hat in the 4th quarter valued at $528,000. UBS Asset Management Americas Inc. raised its position in Red Hat by 1.6% in the 4th quarter. UBS Asset Management Americas Inc. now owns 697,492 shares of the open-source software company’s stock valued at $83,769,000 after buying an additional 10,699 shares during the last quarter. Schroder Investment Management Group raised its position in Red Hat by 9.6% in the 4th quarter. Schroder Investment Management Group now owns 47,414 shares of the open-source software company’s stock valued at $5,694,000 after buying an additional 4,156 shares during the last quarter. Advanced Asset Management Advisors Inc purchased a new stake in Red Hat in the 4th quarter valued at $841,000. Finally, Rhumbline Advisers raised its position in Red Hat by 1.5% in the 4th quarter. Rhumbline Advisers now owns 339,975 shares of the open-source software company’s stock valued at $40,831,000 after buying an additional 5,044 shares during the last quarter. 94.77% of the stock is owned by institutional investors and hedge funds.
In other Red Hat news, CEO James M. Whitehurst sold 5,593 shares of the firm’s stock in a transaction dated Wednesday, January 17th. The stock was sold at an average price of $124.87, for a total value of $698,397.91. Following the completion of the transaction, the chief executive officer now owns 373,506 shares in the company, valued at approximately $46,639,694.22. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Delisa Alexander sold 1,393 shares of the firm’s stock in a transaction dated Wednesday, January 17th. The stock was sold at an average price of $124.87, for a total value of $173,943.91. Following the completion of the transaction, the executive vice president now owns 36,420 shares of the company’s stock, valued at approximately $4,547,765.40. The disclosure for this sale can be found here. In the last 90 days, insiders sold 14,686 shares of company stock valued at $1,873,342. 0.66% of the stock is owned by corporate insiders.
Shares of Red Hat Inc (NYSE RHT) opened at $142.71 on Monday. Red Hat Inc has a twelve month low of $80.93 and a twelve month high of $143.67. The firm has a market capitalization of $25,260.00, a PE ratio of 77.56, a P/E/G ratio of 4.36 and a beta of 1.23. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.53.
Red Hat (NYSE:RHT) last announced its quarterly earnings data on Tuesday, December 19th. The open-source software company reported $0.73 earnings per share for the quarter, topping the consensus estimate of $0.70 by $0.03. Red Hat had a return on equity of 26.23% and a net margin of 12.14%. The company had revenue of $747.98 million during the quarter, compared to analyst estimates of $734.69 million. During the same quarter last year, the firm posted $0.61 EPS. The firm’s revenue for the quarter was up 21.6% on a year-over-year basis. analysts forecast that Red Hat Inc will post 2.08 earnings per share for the current year.
RHT has been the subject of a number of analyst reports. Zacks Investment Research lowered Red Hat from a “buy” rating to a “hold” rating in a research report on Wednesday, December 27th. Bank of America reaffirmed an “underperform” rating and set a $115.00 target price on shares of Red Hat in a research report on Tuesday, October 24th. Citigroup reaffirmed a “buy” rating and set a $148.00 target price on shares of Red Hat in a research report on Wednesday, December 13th. BMO Capital Markets raised their target price on Red Hat from $128.00 to $142.00 and gave the company a “market perform” rating in a research report on Wednesday, December 20th. Finally, Nomura began coverage on Red Hat in a research report on Tuesday, January 23rd. They set a “buy” rating and a $152.00 target price for the company. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and twenty-three have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $126.65.
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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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