Commerce Bank cut its position in shares of Red Hat Inc (NYSE:RHT) by 41.1% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 12,216 shares of the open-source software company’s stock after selling 8,523 shares during the period. Commerce Bank’s holdings in Red Hat were worth $1,665,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. IFM Investors Pty Ltd lifted its stake in Red Hat by 45.4% in the second quarter. IFM Investors Pty Ltd now owns 7,964 shares of the open-source software company’s stock valued at $1,070,000 after buying an additional 2,488 shares in the last quarter. State of Alaska Department of Revenue lifted its stake in Red Hat by 18.5% in the second quarter. State of Alaska Department of Revenue now owns 29,410 shares of the open-source software company’s stock valued at $3,950,000 after buying an additional 4,590 shares in the last quarter. Xact Kapitalforvaltning AB lifted its stake in Red Hat by 6.1% in the second quarter. Xact Kapitalforvaltning AB now owns 33,059 shares of the open-source software company’s stock valued at $4,442,000 after buying an additional 1,900 shares in the last quarter. Raymond James Trust N.A. lifted its stake in Red Hat by 56.6% in the second quarter. Raymond James Trust N.A. now owns 4,944 shares of the open-source software company’s stock valued at $664,000 after buying an additional 1,787 shares in the last quarter. Finally, Daiwa SB Investments Ltd. bought a new position in Red Hat in the second quarter valued at approximately $429,000. 95.77% of the stock is owned by institutional investors and hedge funds.
In other Red Hat news, EVP Delisa Alexander sold 960 shares of the company’s stock in a transaction on Wednesday, October 17th. The shares were sold at an average price of $125.03, for a total value of $120,028.80. Following the transaction, the executive vice president now directly owns 33,217 shares in the company, valued at $4,153,121.51. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO James M. Whitehurst sold 2,513 shares of the company’s stock in a transaction on Wednesday, October 17th. The shares were sold at an average price of $125.03, for a total transaction of $314,200.39. Following the completion of the transaction, the chief executive officer now owns 361,627 shares in the company, valued at $45,214,223.81. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 3,631 shares of company stock worth $453,984. 0.58% of the stock is owned by corporate insiders.
RHT has been the topic of a number of research reports. OTR Global lowered shares of Red Hat to a “positive” rating in a research report on Thursday, September 13th. Nomura lowered shares of Red Hat from a “buy” rating to a “hold” rating and boosted their price objective for the stock from $175.00 to $190.00 in a research report on Tuesday, October 30th. JPMorgan Chase & Co. lowered shares of Red Hat from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $160.00 to $150.00 in a research report on Tuesday, September 18th. Jefferies Financial Group cut their price objective on shares of Red Hat from $154.00 to $140.00 and set a “hold” rating on the stock in a research report on Friday, September 21st. Finally, KeyCorp cut their price objective on shares of Red Hat from $184.00 to $180.00 and set an “overweight” rating on the stock in a research report on Thursday, September 20th. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $163.48.
Shares of RHT opened at $173.75 on Friday. The firm has a market cap of $30.53 billion, a P/E ratio of 75.54, a PEG ratio of 4.51 and a beta of 0.71. Red Hat Inc has a 1-year low of $115.31 and a 1-year high of $177.70. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.23 and a current ratio of 1.23.
Red Hat (NYSE:RHT) last issued its earnings results on Wednesday, September 19th. The open-source software company reported $0.85 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.82 by $0.03. The business had revenue of $822.75 million for the quarter, compared to the consensus estimate of $828.12 million. Red Hat had a net margin of 9.15% and a return on equity of 31.80%. The firm’s revenue for the quarter was up 13.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.77 earnings per share. On average, analysts predict that Red Hat Inc will post 2.57 earnings per share for the current year.
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Red Hat Company Profile
Red Hat, Inc provides open source software solutions to develop and offer operating system, virtualization, management, middleware, cloud, mobile, and storage technologies to various enterprises worldwide. It offers infrastructure-related solutions, such as Red Hat Enterprise Linux, an operating system platform that runs on hardware for use in hybrid cloud environments; Red Hat Satellite, a system management offering that helps to deploy, scale, and manage in hybrid cloud environments; and Red Hat Enterprise Virtualization, a software solution that allows customers to utilize and manage a common hardware infrastructure to run multiple operating systems and applications.
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