Segall Bryant & Hamill LLC cut its stake in Red Hat Inc (NYSE:RHT) by 6.9% in the first quarter, HoldingsChannel.com reports. The fund owned 401,994 shares of the open-source software company’s stock after selling 29,656 shares during the period. Red Hat accounts for approximately 1.4% of Segall Bryant & Hamill LLC’s investment portfolio, making the stock its 7th largest holding. Segall Bryant & Hamill LLC’s holdings in Red Hat were worth $60,102,000 at the end of the most recent quarter.
Other large investors also recently made changes to their positions in the company. We Are One Seven LLC acquired a new position in Red Hat in the fourth quarter valued at approximately $105,000. Avestar Capital LLC acquired a new position in Red Hat in the fourth quarter valued at approximately $168,000. Pitcairn Co. acquired a new position in Red Hat in the first quarter valued at approximately $203,000. ARP Americas LP acquired a new position in Red Hat in the fourth quarter valued at approximately $204,000. Finally, NuWave Investment Management LLC acquired a new position in Red Hat in the fourth quarter valued at approximately $228,000. 95.39% of the stock is owned by institutional investors.
A number of research firms have recently commented on RHT. Barclays restated an “overweight” rating and issued a $186.00 price objective on shares of Red Hat in a research report on Thursday. Zacks Investment Research cut Red Hat from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 30th. Monness Crespi & Hardt boosted their price objective on Red Hat from $175.00 to $200.00 and gave the company a “buy” rating in a research report on Monday, May 14th. Royal Bank of Canada boosted their price objective on Red Hat to $180.00 and gave the company a “positive” rating in a research report on Wednesday, May 9th. Finally, Robert W. Baird restated a “hold” rating and issued a $170.00 price objective on shares of Red Hat in a research report on Wednesday, May 9th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $157.76.
Red Hat (NYSE:RHT) last released its quarterly earnings data on Monday, March 26th. The open-source software company reported $0.91 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.81 by $0.10. The company had revenue of $772.00 million for the quarter, compared to analyst estimates of $761.87 million. Red Hat had a return on equity of 29.36% and a net margin of 8.86%. The firm’s revenue for the quarter was up 22.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.61 earnings per share. sell-side analysts forecast that Red Hat Inc will post 2.52 EPS for the current year.
In other Red Hat news, EVP Delisa Alexander sold 222 shares of the business’s stock in a transaction on Friday, April 13th. The stock was sold at an average price of $156.19, for a total transaction of $34,674.18. Following the transaction, the executive vice president now owns 35,027 shares of the company’s stock, valued at $5,470,867.13. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Arun Oberoi sold 15,000 shares of the business’s stock in a transaction on Monday, April 9th. The stock was sold at an average price of $153.58, for a total value of $2,303,700.00. Following the transaction, the executive vice president now directly owns 74,457 shares in the company, valued at approximately $11,435,106.06. The disclosure for this sale can be found here. Insiders have sold 107,376 shares of company stock worth $17,167,724 in the last three months. 0.66% of the stock is currently owned by corporate insiders.
About Red Hat
Red Hat, Inc provides open source software solutions to develop and offer operating system, virtualization, management, middleware, cloud, mobile, and storage technologies to various enterprises worldwide. It offers infrastructure-related solutions, such as Red Hat Enterprise Linux, an operating system platform that runs on hardware for use in hybrid cloud environments; Red Hat Satellite, a system management offering that helps to deploy, scale, and manage in hybrid cloud environments; and Red Hat Enterprise Virtualization, a software solution that allows customers to utilize and manage a common hardware infrastructure to run multiple operating systems and applications.
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