Capstone Asset Management Co. cut its position in Red Hat, Inc. (NYSE:RHT) by 2.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,948 shares of the open-source software company’s stock after selling 592 shares during the period. Capstone Asset Management Co.’s holdings in Red Hat were worth $1,910,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of Red Hat by 2.4% in the first quarter. Vanguard Group Inc. now owns 17,147,907 shares of the open-source software company’s stock worth $1,483,294,000 after buying an additional 399,260 shares during the last quarter. FMR LLC boosted its stake in shares of 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 worth $871,894,000 after buying an additional 317,464 shares during the last quarter. Sustainable Growth Advisers LP boosted its stake in shares of Red Hat by 3.8% in the first quarter. Sustainable Growth Advisers LP now owns 2,425,693 shares of the open-source software company’s stock worth $209,823,000 after buying an additional 88,232 shares during the last quarter. DF Dent & Co. Inc. boosted its stake in Red Hat by 2.7% in the first quarter. DF Dent & Co. Inc. now owns 1,803,495 shares of the open-source software company’s stock valued at $156,002,000 after buying an additional 47,219 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in Red Hat by 8.8% in the first quarter. Geode Capital Management LLC now owns 1,681,066 shares of the open-source software company’s stock valued at $145,198,000 after buying an additional 135,533 shares in the last quarter. Hedge funds and other institutional investors own 94.27% of the company’s stock.
Shares of Red Hat, Inc. (RHT) traded up 2.49% during mid-day trading on Friday, hitting $98.34. The stock had a trading volume of 1,723,630 shares. The company has a market capitalization of $17.45 billion, a P/E ratio of 67.36 and a beta of 1.26. The stock’s 50-day moving average price is $97.95 and its 200 day moving average price is $88.21. Red Hat, Inc. has a 1-year low of $68.54 and a 1-year high of $101.73.
Red Hat (NYSE:RHT) last announced its quarterly earnings results on Tuesday, June 20th. The open-source software company reported $0.56 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.53 by $0.03. The company had revenue of $677 million during the quarter, compared to analysts’ expectations of $647.42 million. Red Hat had a return on equity of 22.84% and a net margin of 10.54%. The firm’s quarterly revenue was up 19.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.50 earnings per share. On average, analysts predict that Red Hat, Inc. will post $2.66 EPS for the current fiscal year.
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Several equities research analysts have recently weighed in on RHT shares. Mizuho reduced their price objective on Red Hat from $109.00 to $96.00 and set a “buy” rating for the company in a research report on Wednesday, June 21st. Deutsche Bank AG increased their price objective on Red Hat from $100.00 to $110.00 and gave the company a “buy” rating in a research report on Wednesday, June 21st. Goldman Sachs Group, Inc. (The) increased their price objective on Red Hat from $85.00 to $97.00 and gave the company a “buy” rating in a research report on Wednesday, June 21st. BTIG Research reduced their target price on Red Hat from $120.00 to $95.00 and set a “buy” rating for the company in a research report on Wednesday, June 21st. Finally, Stifel Nicolaus raised Red Hat from a “hold” rating to a “buy” rating and raised their target price for the stock from $83.00 to $115.00 in a research report on Wednesday, June 21st. Nine investment analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $98.72.
In related news, EVP Paul J. Cormier sold 30,000 shares of Red Hat stock in a transaction on Tuesday, June 6th. The stock was sold at an average price of $91.16, for a total transaction of $2,734,800.00. Following the completion of the sale, the executive vice president now owns 219,578 shares of the company’s stock, valued at $20,016,730.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Paul J. Cormier sold 26,462 shares of Red Hat stock in a transaction on Thursday, June 8th. The shares were sold at an average price of $91.57, for a total value of $2,423,125.34. Following the sale, the executive vice president now directly owns 189,578 shares of the company’s stock, valued at approximately $17,359,657.46. The disclosure for this sale can be found here. Insiders have sold 130,549 shares of company stock valued at $12,133,438 in the last three months. 0.66% of the stock is owned by corporate insiders.
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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