Red Hat, Inc. (NYSE:RHT) Position Reduced by Diversified Trust Co

Diversified Trust Co lowered its position in shares of Red Hat, Inc. (NYSE:RHT) by 11.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,158 shares of the open-source software company’s stock after selling 400 shares during the period. Diversified Trust Co’s holdings in Red Hat were worth $302,000 as of its most recent filing with the SEC.

A number of other large investors have also recently added to or reduced their stakes in the stock. State of Alaska Department of Revenue purchased a new stake in Red Hat during the second quarter worth $122,000. Bronfman E.L. Rothschild L.P. raised its stake in Red Hat by 1.4% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 1,521 shares of the open-source software company’s stock worth $132,000 after buying an additional 21 shares during the last quarter. YorkBridge Wealth Partners LLC raised its stake in Red Hat by 102.4% in the first quarter. YorkBridge Wealth Partners LLC now owns 1,538 shares of the open-source software company’s stock worth $136,000 after buying an additional 778 shares during the last quarter. CENTRAL TRUST Co raised its stake in Red Hat by 8.2% in the first quarter. CENTRAL TRUST Co now owns 1,839 shares of the open-source software company’s stock worth $159,000 after buying an additional 139 shares during the last quarter. Finally, Point72 Asia Hong Kong Ltd purchased a new stake in Red Hat during the first quarter worth $170,000. 94.50% of the stock is owned by institutional investors and hedge funds.

Red Hat, Inc. (NYSE RHT) traded down 0.3776% during mid-day trading on Friday, reaching $98.5465. 133,047 shares of the company’s stock were exchanged. The company has a market cap of $17.49 billion, a PE ratio of 67.4976 and a beta of 1.26. The stock has a 50-day moving average price of $94.50 and a 200 day moving average price of $85.62. Red Hat, Inc. has a 52-week low of $68.54 and a 52-week high of $100.80.

Red Hat (NYSE:RHT) last released its quarterly earnings results on Tuesday, June 20th. The open-source software company reported $0.56 earnings per share for the quarter, topping analysts’ consensus estimates of $0.53 by $0.03. The firm had revenue of $677 million during the quarter, compared to the consensus estimate of $647.42 million. Red Hat had a return on equity of 22.84% and a net margin of 10.54%. The business’s revenue was up 19.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.50 EPS. Equities analysts predict that Red Hat, Inc. will post $2.66 earnings per share for the current fiscal year.

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A number of equities research analysts recently weighed in on the stock. Deutsche Bank AG raised their price target on shares of Red Hat from $100.00 to $110.00 and gave the company a “buy” rating in a report on Wednesday, June 21st. Oppenheimer Holdings, Inc. reaffirmed an “outperform” rating and set a $96.00 price target (up from $94.00) on shares of Red Hat in a report on Wednesday, May 10th. Mizuho lowered their price target on shares of Red Hat from $109.00 to $96.00 and set a “buy” rating for the company in a report on Wednesday, June 21st. Drexel Hamilton raised their price target on shares of Red Hat to $110.00 in a report on Tuesday, March 28th. Finally, Stifel Nicolaus reaffirmed a “hold” rating and set a $83.00 price target (up from $70.00) on shares of Red Hat in a report on Tuesday, March 28th. Nine analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $98.72.

In other news, CEO James M. Whitehurst sold 47,608 shares of the stock in a transaction that occurred on Monday, May 1st. The stock was sold at an average price of $88.11, for a total value of $4,194,740.88. Following the completion of the sale, the chief executive officer now owns 397,380 shares of the company’s stock, valued at approximately $35,013,151.80. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Delisa Alexander sold 12,062 shares of the stock in a transaction that occurred on Thursday, April 27th. The shares were sold at an average price of $87.36, for a total value of $1,053,736.32. Following the completion of the sale, the executive vice president now directly owns 49,187 shares of the company’s stock, valued at approximately $4,296,976.32. The disclosure for this sale can be found here. In the last three months, insiders sold 245,121 shares of company stock valued at $22,166,786. 0.66% of the stock is currently owned by insiders.

About Red Hat

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.