Baird Financial Group Inc. increased its stake in Red Hat Inc (NYSE:RHT) by 1.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 265,970 shares of the open-source software company’s stock after purchasing an additional 4,255 shares during the period. Baird Financial Group Inc.’s holdings in Red Hat were worth $31,943,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently made changes to their positions in RHT. Zions Bancorporation bought a new stake in shares of Red Hat in the 3rd quarter worth approximately $164,000. Calton & Associates Inc. acquired a new stake in Red Hat in the 4th quarter valued at approximately $189,000. Winslow Evans & Crocker Inc. acquired a new stake in Red Hat in the 4th quarter valued at approximately $193,000. Parkwood LLC acquired a new stake in Red Hat in the 3rd quarter valued at approximately $200,000. Finally, Boston Financial Mangement LLC acquired a new stake in Red Hat in the 3rd quarter valued at approximately $201,000. 95.61% of the stock is currently owned by institutional investors and hedge funds.
Red Hat Inc (NYSE RHT) opened at $142.71 on Tuesday. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.53. The stock has a market capitalization of $25,260.00, a price-to-earnings ratio of 77.56, a P/E/G ratio of 4.36 and a beta of 1.23. Red Hat Inc has a 1-year low of $80.93 and a 1-year high of $143.67.
Several research firms recently commented on RHT. Oppenheimer restated a “buy” rating and issued a $140.00 target price (up from $125.00) on shares of Red Hat in a research report on Wednesday, December 20th. Deutsche Bank restated a “buy” rating and issued a $150.00 target price on shares of Red Hat in a research report on Wednesday, December 20th. Wells Fargo & Co set a $144.00 target price on Red Hat and gave the company a “buy” rating in a research report on Wednesday, December 20th. BTIG Research raised their target price on Red Hat from $120.00 to $150.00 and gave the company a “buy” rating in a research report on Wednesday, December 20th. Finally, Robert W. Baird restated a “hold” rating on shares of Red Hat in a research report on Wednesday, December 20th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and twenty-three have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $126.65.
In related news, Director William S. Kaiser sold 7,700 shares of Red Hat stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $130.00, for a total value of $1,001,000.00. Following the transaction, the director now directly owns 61,652 shares in the company, valued at approximately $8,014,760. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO James M. Whitehurst sold 5,593 shares of Red Hat stock in a transaction on Wednesday, January 17th. The stock was sold at an average price of $124.87, for a total value of $698,397.91. Following the completion of the transaction, the chief executive officer now owns 373,506 shares in the company, valued at $46,639,694.22. The disclosure for this sale can be found here. Insiders sold a total of 14,686 shares of company stock worth $1,873,342 over the last 90 days. Insiders own 0.66% of the company’s stock.
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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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