Brown Advisory Inc. lowered its stake in shares of Red Hat Inc (NYSE:RHT) by 90.0% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 34,124 shares of the open-source software company’s stock after selling 307,648 shares during the period. Brown Advisory Inc.’s holdings in Red Hat were worth $5,994,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Private Advisor Group LLC lifted its stake in shares of Red Hat by 28.5% in the third quarter. Private Advisor Group LLC now owns 5,307 shares of the open-source software company’s stock valued at $723,000 after buying an additional 1,178 shares during the period. Cambridge Investment Research Advisors Inc. lifted its stake in Red Hat by 13.7% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 11,438 shares of the open-source software company’s stock worth $1,559,000 after purchasing an additional 1,378 shares during the period. Bessemer Group Inc. lifted its stake in Red Hat by 71.5% during the third quarter. Bessemer Group Inc. now owns 2,315 shares of the open-source software company’s stock worth $315,000 after purchasing an additional 965 shares during the period. Candriam Luxembourg S.C.A. lifted its stake in Red Hat by 252.1% during the third quarter. Candriam Luxembourg S.C.A. now owns 48,629 shares of the open-source software company’s stock worth $6,627,000 after purchasing an additional 34,819 shares during the period. Finally, MML Investors Services LLC lifted its stake in Red Hat by 50.4% during the third quarter. MML Investors Services LLC now owns 5,982 shares of the open-source software company’s stock worth $815,000 after purchasing an additional 2,005 shares during the period. Institutional investors and hedge funds own 88.56% of the company’s stock.
A number of brokerages have commented on RHT. Zacks Investment Research upgraded shares of Red Hat from a “hold” rating to a “buy” rating and set a $194.00 price target for the company in a research note on Monday, December 31st. Monness Crespi & Hardt restated a “buy” rating and set a $190.00 price target (up previously from $186.00) on shares of Red Hat in a research note on Monday, December 10th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Hold” and an average target price of $166.54.
NYSE RHT opened at $181.78 on Friday. The company has a market cap of $32.13 billion, a PE ratio of 79.03, a PEG ratio of 4.02 and a beta of 0.55. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.26 and a quick ratio of 1.26. Red Hat Inc has a 1-year low of $115.31 and a 1-year high of $183.54.
Red Hat (NYSE:RHT) last posted its quarterly earnings data on Monday, December 17th. The open-source software company reported $0.96 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.87 by $0.09. The company had revenue of $847.00 million during the quarter, compared to analyst estimates of $852.79 million. Red Hat had a net margin of 8.66% and a return on equity of 33.96%. The company’s revenue was up 13.2% on a year-over-year basis. During the same quarter last year, the business posted $0.73 earnings per share. Equities analysts predict that Red Hat Inc will post 2.63 earnings per share for the current year.
In other news, EVP Michael Cunningham sold 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 7th. The shares were sold at an average price of $178.79, for a total transaction of $4,469,750.00. Following the completion of the sale, the executive vice president now owns 25,071 shares of the company’s stock, valued at $4,482,444.09. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.58% of the company’s stock.
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Red Hat 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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