Mn Services Vermogensbeheer B.V. raised its stake in shares of Red Hat, Inc. (NYSE:RHT) by 505.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,980 shares of the open-source software company’s stock after buying an additional 24,190 shares during the period. Mn Services Vermogensbeheer B.V.’s holdings in Red Hat were worth $2,775,000 as of its most recent SEC filing.
Other hedge funds have also bought and sold shares of the company. State of Alaska Department of Revenue purchased a new position in shares of Red Hat during the second quarter valued at approximately $122,000. Bronfman E.L. Rothschild L.P. boosted its position in shares of 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 valued at $132,000 after buying an additional 21 shares in the last quarter. YorkBridge Wealth Partners LLC boosted its position in shares of 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 valued at $136,000 after buying an additional 778 shares in the last quarter. CENTRAL TRUST Co boosted its position in shares of 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 valued at $159,000 after buying an additional 139 shares in the last quarter. Finally, Point72 Asia Hong Kong Ltd purchased a new position in shares of Red Hat during the first quarter valued at approximately $170,000. 94.27% of the stock is currently owned by institutional investors.
Red Hat, Inc. (NYSE RHT) traded up 2.49% during midday trading on Friday, reaching $98.34. The company’s stock had a trading volume of 1,723,630 shares. Red Hat, Inc. has a 12-month low of $68.54 and a 12-month high of $101.73. The stock has a market cap of $17.45 billion, a P/E ratio of 67.36 and a beta of 1.26. The stock’s 50 day moving average is $97.95 and its 200 day moving average is $88.21.
Red Hat (NYSE:RHT) last released its quarterly earnings results on Tuesday, June 20th. The open-source software company reported $0.56 EPS for the quarter, topping the consensus estimate of $0.53 by $0.03. Red Hat had a return on equity of 22.84% and a net margin of 10.54%. The company had revenue of $677 million for the quarter, compared to analyst estimates of $647.42 million. During the same quarter in the previous year, the company posted $0.50 earnings per share. The firm’s revenue was up 19.2% compared to the same quarter last year. Analysts anticipate that Red Hat, Inc. will post $2.66 earnings per share for the current year.
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A number of equities research analysts have recently issued reports on the stock. Zacks Investment Research raised shares of Red Hat from a “hold” rating to a “strong-buy” rating and set a $101.00 price objective for the company in a research note on Tuesday, May 2nd. BTIG Research lowered their price target on shares of Red Hat from $120.00 to $95.00 and set a “buy” rating for the company in a report on Wednesday, June 21st. Oppenheimer Holdings, Inc. reiterated 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 initiated coverage on shares of Red Hat in a report on Wednesday, May 24th. They issued a “market perform” rating and a $102.00 price objective for the company. Finally, Rosenblatt Securities restated a “buy” rating and issued a $112.00 price objective (up from $95.00) on shares of Red Hat in a report on Thursday, June 22nd. Nine equities research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. The company currently 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 that occurred on Friday, June 2nd. The stock was sold at an average price of $90.35, for a total value of $2,710,500.00. Following the sale, the executive vice president now directly owns 249,578 shares in the company, valued at $22,549,372.30. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Eric Ryan Shander sold 1,521 shares of Red Hat stock in a transaction that occurred on Wednesday, July 26th. The shares were sold at an average price of $99.98, for a total value of $152,069.58. Following the completion of the sale, the chief financial officer now owns 9,913 shares in the company, valued at $991,101.74. The disclosure for this sale can be found here. Insiders sold a total of 130,549 shares of company stock worth $12,133,438 over the last quarter. Company insiders own 0.66% of the company’s stock.
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.
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