Nippon Life Global Investors Americas Inc. acquired a new stake in Red Hat Inc (NYSE:RHT) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 18,770 shares of the open-source software company’s stock, valued at approximately $2,254,000.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Jennison Associates LLC grew its holdings in shares of Red Hat by 19.4% during the fourth quarter. Jennison Associates LLC now owns 9,552,072 shares of the open-source software company’s stock worth $1,147,204,000 after buying an additional 1,550,821 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in Red Hat by 13.8% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,144,600 shares of the open-source software company’s stock valued at $257,566,000 after purchasing an additional 260,513 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Red Hat by 2.7% in the 4th quarter. Geode Capital Management LLC now owns 1,924,314 shares of the open-source software company’s stock valued at $230,638,000 after purchasing an additional 50,450 shares in the last quarter. Bank of Montreal Can boosted its holdings in Red Hat by 93.9% in the 4th quarter. Bank of Montreal Can now owns 1,242,177 shares of the open-source software company’s stock valued at $149,187,000 after purchasing an additional 601,622 shares in the last quarter. Finally, Champlain Investment Partners LLC lifted its position in shares of Red Hat by 1.0% during the 4th quarter. Champlain Investment Partners LLC now owns 1,204,005 shares of the open-source software company’s stock valued at $144,601,000 after acquiring an additional 11,385 shares during the period. Institutional investors and hedge funds own 95.74% of the company’s stock.
Red Hat Inc (NYSE RHT) traded up $1.09 during trading hours on Wednesday, reaching $155.04. 1,062,408 shares of the company were exchanged, compared to its average volume of 1,760,000. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.53. The firm has a market cap of $27,440.00, a price-to-earnings ratio of 84.26, a PEG ratio of 4.11 and a beta of 1.06. Red Hat Inc has a 1-year low of $81.06 and a 1-year high of $157.22.
Red Hat (NYSE:RHT) last issued its earnings results on Tuesday, December 19th. The open-source software company reported $0.73 earnings per share for the quarter, beating the consensus estimate of $0.70 by $0.03. Red Hat had a net margin of 12.14% and a return on equity of 26.23%. The business had revenue of $747.98 million for the quarter, compared to analyst estimates of $734.69 million. During the same period in the previous year, the business earned $0.61 EPS. The firm’s revenue was up 21.6% on a year-over-year basis. equities analysts anticipate that Red Hat Inc will post 2.08 EPS for the current fiscal year.
Several research analysts recently issued reports on the company. Mizuho downgraded Red Hat from a “buy” rating to a “neutral” rating and lifted their price objective for the stock from $140.00 to $160.00 in a research report on Monday. Evercore ISI reiterated a “buy” rating and issued a $140.00 price target on shares of Red Hat in a report on Friday, February 2nd. Nomura assumed coverage on Red Hat in a report on Tuesday, January 23rd. They issued a “buy” rating and a $152.00 price target for the company. Zacks Investment Research cut shares of Red Hat from a “buy” rating to a “hold” rating in a research note on Wednesday, December 27th. Finally, Northland Securities reissued a “buy” rating and set a $150.00 price objective on shares of Red Hat in a research note on Thursday, December 21st. One research analyst has rated the stock with a sell rating, ten have given a hold rating and twenty-two have assigned a buy rating to the company’s stock. Red Hat currently has an average rating of “Buy” and a consensus price target of $127.29.
In other news, Director William S. Kaiser sold 7,700 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the director now owns 61,652 shares in the company, valued at $8,014,760. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO James M. Whitehurst sold 5,593 shares of the company’s stock in a transaction that occurred on Wednesday, January 17th. The shares were sold at an average price of $124.87, for a total transaction of $698,397.91. Following the completion of the transaction, the chief executive officer now owns 373,506 shares of the company’s stock, valued at approximately $46,639,694.22. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 14,686 shares of company stock valued at $1,873,342. Insiders own 0.66% of the company’s stock.
Red Hat Company 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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