Wayne Hummer Investments L.L.C. lowered its stake in Red Hat, Inc. (NYSE:RHT) by 1.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,791 shares of the open-source software company’s stock after selling 112 shares during the period. Wayne Hummer Investments L.L.C.’s holdings in Red Hat were worth $650,000 as of its most recent SEC filing.
Several other large investors have also bought and sold shares of RHT. US Bancorp DE boosted its position in Red Hat by 1.0% in the second quarter. US Bancorp DE now owns 84,508 shares of the open-source software company’s stock valued at $8,091,000 after buying an additional 870 shares during the period. Caisse DE Depot ET Placement DU Quebec boosted its position in Red Hat by 6.9% in the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 17,104 shares of the open-source software company’s stock valued at $1,481,000 after buying an additional 1,100 shares during the period. Toronto Dominion Bank boosted its position in Red Hat by 55.3% in the first quarter. Toronto Dominion Bank now owns 48,126 shares of the open-source software company’s stock valued at $4,163,000 after buying an additional 17,143 shares during the period. Hillview Capital Advisors LLC purchased a new position in Red Hat during the second quarter valued at $345,000. Finally, FMR LLC boosted its position in Red Hat by 3.3% in the first quarter. FMR LLC now owns 10,079,689 shares of the open-source software company’s stock valued at $871,894,000 after buying an additional 317,464 shares during the period. 93.23% of the stock is owned by institutional investors.
Shares of Red Hat, Inc. (NYSE RHT) opened at 100.43 on Monday. The company’s 50-day moving average is $98.41 and its 200-day moving average is $89.27. The company has a market cap of $17.82 billion, a price-to-earnings ratio of 68.79 and a beta of 1.26. Red Hat, Inc. has a 12-month low of $68.54 and a 12-month high of $101.82.
Red Hat (NYSE:RHT) last released its quarterly earnings data on Tuesday, June 20th. The open-source software company reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.03. The firm had revenue of $677 million for the quarter, compared to analysts’ expectations of $647.42 million. Red Hat had a net margin of 10.54% and a return on equity of 22.84%. The company’s revenue for the quarter was up 19.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.50 earnings per share. Equities research analysts predict that Red Hat, Inc. will post $2.68 earnings per share for the current year.
Several research analysts recently weighed in on RHT shares. Zacks Investment Research upgraded shares of Red Hat from a “hold” rating to a “strong-buy” rating and set a $101.00 price target on the stock in a report on Tuesday, May 2nd. BTIG Research cut their price target on shares of Red Hat from $120.00 to $95.00 and set a “buy” rating on the stock in a report on Wednesday, June 21st. Oppenheimer Holdings, Inc. restated 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. Sanford C. Bernstein started coverage on shares of Red Hat in a report on Wednesday, May 24th. They set a “market perform” rating and a $102.00 price target on the stock. Finally, Rosenblatt Securities restated a “buy” rating and set a $112.00 price target (up from $95.00) on shares of Red Hat in a report on Thursday, June 22nd. Nine research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $98.72.
In other news, EVP Delisa Alexander sold 2,444 shares of Red Hat stock in a transaction that occurred on Tuesday, July 18th. The shares were sold at an average price of $98.25, for a total transaction of $240,123.00. Following the sale, the executive vice president now owns 41,570 shares in the company, valued at $4,084,252.50. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Paul J. Cormier sold 30,000 shares of Red Hat stock in a transaction that occurred on Tuesday, June 6th. The shares were sold at an average price of $91.16, for a total transaction of $2,734,800.00. Following the sale, the executive vice president now owns 219,578 shares in the company, valued at approximately $20,016,730.48. The disclosure for this sale can be found here. In the last quarter, insiders have sold 130,549 shares of company stock worth $12,133,438. Company insiders own 0.66% of the company’s stock.
Red Hat Company Profile
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.
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