Schroder Investment Management Group cut its stake in Red Hat Inc (NYSE:RHT) by 29.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,717 shares of the open-source software company’s stock after selling 10,260 shares during the period. Schroder Investment Management Group’s holdings in Red Hat were worth $3,368,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of RHT. Migdal Insurance & Financial Holdings Ltd. boosted its holdings in shares of Red Hat by 16,350.0% in the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 987 shares of the open-source software company’s stock valued at $133,000 after acquiring an additional 981 shares in the last quarter. Quad Cities Investment Group LLC bought a new position in shares of Red Hat in the second quarter valued at approximately $134,000. Truvestments Capital LLC bought a new position in shares of Red Hat in the third quarter valued at approximately $138,000. Stratos Wealth Partners LTD. bought a new position in shares of Red Hat in the third quarter valued at approximately $146,000. Finally, Whitener Capital Management Inc. bought a new position in shares of Red Hat in the third quarter valued at approximately $151,000. Institutional investors and hedge funds own 96.99% of the company’s stock.
In related news, CEO James M. Whitehurst sold 2,513 shares of the company’s stock in a transaction that occurred on Wednesday, October 17th. The shares were sold at an average price of $125.03, for a total value of $314,200.39. Following the completion of the sale, the chief executive officer now owns 361,627 shares in the company, valued at approximately $45,214,223.81. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Delisa Alexander sold 960 shares of the stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $4,153,121.51. The disclosure for this sale can be found here. In the last 90 days, insiders sold 3,631 shares of company stock valued at $453,984. 0.58% of the stock is owned by insiders.
Shares of NYSE:RHT opened at $177.10 on Friday. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.23 and a quick ratio of 1.23. The company has a market capitalization of $31.37 billion, a P/E ratio of 77.00, a PEG 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.
Red Hat (NYSE:RHT) last issued its quarterly earnings results on Wednesday, September 19th. The open-source software company reported $0.85 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.82 by $0.03. The business had revenue of $822.75 million during 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 quarterly revenue was up 13.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.77 EPS. On average, research analysts expect that Red Hat Inc will post 2.57 earnings per share for the current year.
Several research analysts have recently issued reports on RHT shares. Northland Securities cut shares of Red Hat from an “outperform” rating to a “market perform” rating in a report on Monday, October 29th. Royal Bank of Canada reduced their target price on shares of Red Hat to $169.00 and set an “outperform” rating for the company in a report on Monday, September 17th. Nomura cut shares of Red Hat from a “buy” rating to a “hold” rating and raised their target price for the stock from $175.00 to $190.00 in a report on Tuesday, October 30th. Needham & Company LLC started coverage on shares of Red Hat in a report on Monday, October 22nd. They set a “buy” rating and a $183.00 target price for the company. Finally, Deutsche Bank cut shares of Red Hat from a “buy” rating to a “hold” rating and raised their target price for the stock from $170.00 to $190.00 in a report on Monday, October 29th. One research analyst has rated the stock with a sell rating, sixteen have issued a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Red Hat currently has an average rating of “Hold” and an average target price of $163.48.
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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