Nicholas Investment Partners LP Has $3.20 Million Holdings in Red Hat Inc (RHT)

Nicholas Investment Partners LP trimmed its position in shares of Red Hat Inc (NYSE:RHT) by 30.2% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 28,825 shares of the open-source software company’s stock after selling 12,461 shares during the period. Nicholas Investment Partners LP’s holdings in Red Hat were worth $3,196,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. Bluestein R H & Co. grew its stake in Red Hat by 50.0% during the third quarter. Bluestein R H & Co. now owns 4,500 shares of the open-source software company’s stock worth $499,000 after buying an additional 1,500 shares in the last quarter. Private Advisor Group LLC grew its stake in Red Hat by 47.3% during the third quarter. Private Advisor Group LLC now owns 4,562 shares of the open-source software company’s stock worth $530,000 after buying an additional 1,464 shares in the last quarter. Pier Capital LLC grew its stake in Red Hat by 59.8% during the third quarter. Pier Capital LLC now owns 5,214 shares of the open-source software company’s stock worth $578,000 after buying an additional 1,951 shares in the last quarter. Stifel Financial Corp lifted its holdings in shares of Red Hat by 8.5% in the third quarter. Stifel Financial Corp now owns 116,719 shares of the open-source software company’s stock worth $12,942,000 after acquiring an additional 9,115 shares during the last quarter. Finally, FDO Partners LLC bought a new position in shares of Red Hat in the third quarter worth about $275,000. Hedge funds and other institutional investors own 93.85% of the company’s stock.

Shares of Red Hat Inc (NYSE RHT) traded up $0.51 during midday trading on Wednesday, reaching $121.38. 705,302 shares of the company were exchanged, compared to its average volume of 1,658,896. The company has a market cap of $21,449.83, a price-to-earnings ratio of 66.10, a PEG ratio of 3.82 and a beta of 1.19. Red Hat Inc has a 1-year low of $68.54 and a 1-year high of $129.61. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 0.54.

Red Hat (NYSE:RHT) last issued its quarterly earnings data on Monday, September 25th. The open-source software company reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.67 by $0.10. The business had revenue of $723.60 million during the quarter, compared to analyst estimates of $699.56 million. Red Hat had a net margin of 11.49% and a return on equity of 25.27%. The firm’s quarterly revenue was up 20.6% on a year-over-year basis. During the same quarter last year, the business earned $0.55 EPS. analysts predict that Red Hat Inc will post 2 EPS for the current year.

In other Red Hat news, insider Michael A. Kelly sold 2,888 shares of the firm’s stock in a transaction that occurred on Wednesday, October 18th. The shares were sold at an average price of $121.03, for a total transaction of $349,534.64. Following the completion of the transaction, the insider now owns 8,751 shares in the company, valued at approximately $1,059,133.53. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO James M. Whitehurst sold 12,000 shares of the firm’s stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $111.15, for a total transaction of $1,333,800.00. Following the transaction, the chief executive officer now owns 392,979 shares of the company’s stock, valued at approximately $43,679,615.85. The disclosure for this sale can be found here. In the last quarter, insiders sold 34,172 shares of company stock valued at $3,926,377. 0.66% of the stock is owned by company insiders.

A number of research analysts have recently commented on RHT shares. Zacks Investment Research raised shares of Red Hat from a “hold” rating to a “buy” rating and set a $120.00 target price for the company in a report on Thursday, September 21st. Stifel Nicolaus reissued a “buy” rating and issued a $115.00 target price on shares of Red Hat in a report on Wednesday, September 20th. Drexel Hamilton reissued a “buy” rating and issued a $127.00 target price on shares of Red Hat in a report on Tuesday, September 19th. Moffett Nathanson started coverage on shares of Red Hat in a report on Wednesday, September 6th. They issued a “buy” rating for the company. Finally, Mizuho reissued a “buy” rating and issued a $125.00 target price (up previously from $109.00) on shares of Red Hat in a report on Tuesday, September 26th. One analyst has rated the stock with a sell rating, nine have given a hold rating and twenty-four have assigned a buy rating to the stock. Red Hat currently has an average rating of “Buy” and an average price target of $111.86.

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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.

Institutional Ownership by Quarter for Red Hat (NYSE:RHT)

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