Red Hat Inc (RHT) Stake Lessened by Comerica Securities Inc.

Comerica Securities Inc. trimmed its position in shares of Red Hat Inc (NYSE:RHT) by 9.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,934 shares of the open-source software company’s stock after selling 518 shares during the quarter. Comerica Securities Inc.’s holdings in Red Hat were worth $867,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the company. Alpha Omega Wealth Management LLC acquired a new stake in shares of Red Hat in the fourth quarter valued at approximately $25,000. Legacy Financial Advisors Inc. acquired a new stake in shares of Red Hat in the fourth quarter valued at approximately $33,000. Reilly Financial Advisors LLC grew its position in shares of Red Hat by 40.8% in the fourth quarter. Reilly Financial Advisors LLC now owns 276 shares of the open-source software company’s stock valued at $48,000 after purchasing an additional 80 shares during the last quarter. Essex Savings Bank acquired a new stake in shares of Red Hat in the fourth quarter valued at approximately $63,000. Finally, TCI Wealth Advisors Inc. grew its position in shares of Red Hat by 46.5% in the fourth quarter. TCI Wealth Advisors Inc. now owns 378 shares of the open-source software company’s stock valued at $66,000 after purchasing an additional 120 shares during the last quarter. Institutional investors and hedge funds own 95.90% of the company’s stock.

Shares of RHT opened at $179.34 on Wednesday. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.23. The company has a market cap of $31.67 billion, a P/E ratio of 77.97, a PEG ratio of 4.61 and a beta of 0.55. Red Hat Inc has a 1 year low of $115.31 and a 1 year high of $179.82.

Red Hat (NYSE:RHT) last announced its quarterly earnings data on Monday, December 17th. The open-source software company reported $0.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.87 by $0.09. The business had revenue of $847.00 million for the quarter, compared to the consensus estimate of $852.79 million. Red Hat had a net margin of 8.66% and a return on equity of 33.96%. The company’s quarterly revenue was up 13.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.73 earnings per share. On average, equities analysts predict that Red Hat Inc will post 2.59 EPS for the current year.

Several analysts have recently commented on the stock. Zacks Investment Research upgraded shares of Red Hat from a “hold” rating to a “buy” rating and set a $194.00 price target on the stock in a research report on Monday, December 31st. Monness Crespi & Hardt reiterated a “buy” rating and issued a $190.00 price target (up from $186.00) on shares of Red Hat in a research report on Monday, December 10th. Needham & Company LLC lowered shares of Red Hat from a “buy” rating to a “hold” rating in a research report on Monday, November 5th. Nomura lowered shares of Red Hat from a “buy” rating to a “hold” rating and increased their price target for the company from $175.00 to $190.00 in a research report on Tuesday, October 30th. Finally, Citigroup lowered shares of Red Hat from a “buy” rating to a “neutral” rating and increased their price target for the company from $163.00 to $190.00 in a research report on Tuesday, October 30th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $166.30.

In related news, EVP Michael Cunningham sold 25,000 shares of the company’s stock in a transaction that occurred on Thursday, February 7th. The shares were sold at an average price of $178.79, for a total transaction of $4,469,750.00. Following the transaction, the executive vice president now owns 25,071 shares of the company’s stock, valued at $4,482,444.09. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.58% of the company’s stock.

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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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Institutional Ownership by Quarter for Red Hat (NYSE:RHT)

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