New York State Teachers Retirement System lifted its stake in shares of Red Hat, Inc. (NYSE:RHT) by 0.6% in the third quarter, according to its most recent filing with the SEC. The fund owned 277,185 shares of the open-source software company’s stock after acquiring an additional 1,681 shares during the period. New York State Teachers Retirement System owned approximately 0.16% of Red Hat worth $30,729,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. D.A. Davidson & CO. lifted its holdings in shares of Red Hat by 6.8% during the 2nd quarter. D.A. Davidson & CO. now owns 1,071 shares of the open-source software company’s stock worth $102,000 after acquiring an additional 68 shares during the last quarter. Clear Perspective Advisors LLC bought a new stake in shares of Red Hat during the 2nd quarter worth $112,000. Sun Life Financial INC lifted its holdings in shares of Red Hat by 14,837.5% during the 2nd quarter. Sun Life Financial INC now owns 1,195 shares of the open-source software company’s stock worth $114,000 after acquiring an additional 1,187 shares during the last quarter. Shine Investment Advisory Services Inc. bought a new stake in shares of Red Hat during the 2nd quarter worth $117,000. Finally, State of Alaska Department of Revenue bought a new stake in shares of Red Hat during the 2nd quarter worth $122,000. 94.79% of the stock is owned by institutional investors.
Shares of Red Hat, Inc. (RHT) opened at $121.64 on Friday. The firm has a market capitalization of $21.57 billion, a price-to-earnings ratio of 66.48, a PEG ratio of 3.84 and a beta of 1.18. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.30 and a current ratio of 1.30.
Red Hat (NYSE:RHT) last announced its quarterly earnings data on Monday, September 25th. The open-source software company reported $0.77 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.67 by $0.10. The business had revenue of $723.60 million for the quarter, compared to analysts’ expectations of $699.56 million. Red Hat had a net margin of 11.49% and a return on equity of 25.27%. The business’s revenue was up 20.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.55 earnings per share. analysts forecast that Red Hat, Inc. will post 2 earnings per share for the current fiscal year.
RHT has been the subject of a number of research analyst reports. Zacks Investment Research downgraded shares of Red Hat from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 22nd. Credit Suisse Group began coverage on shares of Red Hat in a research note on Tuesday, September 5th. They issued a “neutral” rating and a $111.00 price target for the company. Piper Jaffray Companies reissued a “hold” rating and issued a $100.00 price target on shares of Red Hat in a research note on Sunday, August 27th. KeyCorp reissued an “overweight” rating and issued a $121.00 price target on shares of Red Hat in a research note on Friday, September 8th. Finally, Royal Bank Of Canada boosted their price target on shares of Red Hat from $106.00 to $121.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 20th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and twenty-four have given a buy rating to the stock. Red Hat currently has an average rating of “Buy” and an average price target of $110.93.
In other news, insider Michael A. Kelly sold 2,888 shares of the 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 sale, the insider now owns 8,751 shares in the company, valued at $1,059,133.53. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Delisa Alexander sold 1,073 shares of the stock in a transaction that occurred on Tuesday, October 17th. The shares were sold at an average price of $120.36, for a total transaction of $129,146.28. Following the sale, the executive vice president now owns 38,150 shares in the company, valued at approximately $4,591,734. The disclosure for this sale can be found here. In the last 90 days, insiders sold 34,172 shares of company stock worth $3,926,377. Corporate insiders own 0.66% of the company’s stock.
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Red Hat 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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