United Services Automobile Association lowered its holdings in Red Hat Inc (NYSE:RHT) by 14.3% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 91,762 shares of the open-source software company’s stock after selling 15,284 shares during the quarter. United Services Automobile Association owned 0.05% of Red Hat worth $12,505,000 as of its most recent filing with the SEC.
Other institutional investors have also added to or reduced their stakes in the company. Prospera Financial Services Inc acquired a new stake in Red Hat in the third quarter valued at $367,000. Signature Financial Management Inc. lifted its holdings in Red Hat by 132.3% in the second quarter. Signature Financial Management Inc. now owns 5,048 shares of the open-source software company’s stock valued at $678,000 after acquiring an additional 2,875 shares during the period. Davis R M Inc. lifted its holdings in Red Hat by 2.4% in the third quarter. Davis R M Inc. now owns 343,479 shares of the open-source software company’s stock valued at $46,809,000 after acquiring an additional 8,155 shares during the period. Twin Capital Management Inc. acquired a new stake in Red Hat in the second quarter valued at $1,956,000. Finally, Flagship Harbor Advisors LLC lifted its holdings in Red Hat by 76.8% in the second quarter. Flagship Harbor Advisors LLC now owns 2,456 shares of the open-source software company’s stock valued at $330,000 after acquiring an additional 1,067 shares during the period. 96.99% of the stock is owned by institutional investors.
A number of equities research analysts have commented on RHT shares. Royal Bank of Canada raised their target price on Red Hat to $190.00 in a report on Monday, October 29th. Nomura cut their price target on Red Hat from $182.00 to $175.00 and set a “buy” rating for the company in a research note on Thursday, September 20th. Stifel Nicolaus cut their price target on Red Hat from $172.00 to $160.00 and set a “buy” rating for the company in a research note on Thursday, September 20th. Citigroup cut their price target on Red Hat from $167.00 to $163.00 and set a “buy” rating for the company in a research note on Thursday, September 20th. Finally, Needham & Company LLC started coverage on Red Hat in a research note on Monday, October 22nd. They set a “buy” rating and a $183.00 price target for the company. 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’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $163.48.
In related news, EVP Delisa Alexander sold 960 shares of Red Hat stock in a transaction dated Wednesday, October 17th. The stock was sold at an average price of $125.03, for a total transaction of $120,028.80. Following the completion of the sale, the executive vice president now owns 33,217 shares in the company, valued at approximately $4,153,121.51. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO James M. Whitehurst sold 2,513 shares of Red Hat stock in a transaction dated Wednesday, October 17th. The stock was sold at an average price of $125.03, for a total value of $314,200.39. Following the sale, the chief executive officer now owns 361,627 shares of the company’s stock, valued at approximately $45,214,223.81. The disclosure for this sale can be found here. In the last quarter, insiders have sold 3,631 shares of company stock valued at $453,984. 0.58% of the stock is currently owned by company insiders.
Red Hat stock opened at $177.10 on Friday. The stock has a market cap of $31.37 billion, a P/E ratio of 77.00, a P/E/G ratio of 4.63 and a beta of 0.70. Red Hat Inc has a 52 week low of $115.31 and a 52 week high of $179.49. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.23 and a quick ratio of 1.23.
Red Hat (NYSE:RHT) last posted its quarterly earnings data on Wednesday, September 19th. The open-source software company reported $0.85 EPS for the quarter, topping analysts’ consensus estimates of $0.82 by $0.03. The firm had revenue of $822.75 million during the quarter, compared to analysts’ expectations of $828.12 million. Red Hat had a return on equity of 31.80% and a net margin of 9.15%. The firm’s quarterly revenue was up 13.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.77 EPS. As a group, sell-side analysts forecast that Red Hat Inc will post 2.57 earnings per share for the current year.
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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