Colony Group LLC boosted its holdings in shares of Red Hat, Inc. (NYSE:RHT) by 1.4% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 113,237 shares of the open-source software company’s stock after buying an additional 1,604 shares during the quarter. Colony Group LLC owned 0.06% of Red Hat worth $10,842,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also bought and sold shares of the company. D.A. Davidson & CO. raised its position in 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 buying an additional 68 shares during the last quarter. Clear Perspective Advisors LLC acquired a new stake in shares of Red Hat during the 2nd quarter worth approximately $112,000. Sun Life Financial INC grew its stake 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 purchasing an additional 1,187 shares during the period. Shine Investment Advisory Services Inc. acquired a new stake in shares of Red Hat during the 2nd quarter worth approximately $117,000. Finally, State of Alaska Department of Revenue acquired a new stake in shares of Red Hat during the 2nd quarter worth approximately $122,000. 94.03% of the stock is owned by institutional investors.
A number of research firms recently issued reports on RHT. Deutsche Bank AG reissued a “buy” rating and issued a $120.00 price target (up previously from $110.00) on shares of Red Hat in a research note on Tuesday, September 26th. Robert W. Baird raised their price objective on Red Hat from $90.00 to $100.00 and gave the company a “neutral” rating in a report on Wednesday, June 21st. Mizuho decreased their price objective on Red Hat from $109.00 to $96.00 and set a “buy” rating on the stock in a report on Wednesday, June 21st. Wells Fargo & Company restated an “outperform” rating and issued a $120.00 price objective (up previously from $115.00) on shares of Red Hat in a report on Tuesday, September 19th. Finally, Morgan Stanley restated an “equal weight” rating and issued a $98.00 price objective (up previously from $90.00) on shares of Red Hat in a report on Wednesday, June 21st. Ten equities research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company’s stock. Red Hat presently has an average rating of “Buy” and a consensus target price of $110.93.
In other news, Director William S. Kaiser sold 14,000 shares of the firm’s stock in a transaction dated Thursday, October 5th. The stock was sold at an average price of $114.79, for a total value of $1,607,060.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO James M. Whitehurst sold 12,000 shares of the firm’s stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $111.15, for a total value of $1,333,800.00. Following the completion of the transaction, the chief executive officer now owns 392,979 shares of the company’s stock, valued at approximately $43,679,615.85. The disclosure for this sale can be found here. In the last quarter, insiders have sold 39,087 shares of company stock valued at $4,227,191. Corporate insiders own 0.66% of the company’s stock.
ILLEGAL ACTIVITY WARNING: This news story was first reported by Stock Observer and is owned by of Stock Observer. If you are reading this news story on another website, it was stolen and reposted in violation of international trademark & copyright laws. The original version of this news story can be read at https://www.thestockobserver.com/2017/10/13/colony-group-llc-acquires-1604-shares-of-red-hat-inc-rht.html.
Shares of Red Hat, Inc. (NYSE RHT) traded up 0.05% on Friday, hitting $120.97. The stock had a trading volume of 641,942 shares. Red Hat, Inc. has a one year low of $68.54 and a one year high of $122.31. The firm has a 50 day moving average price of $109.54 and a 200 day moving average price of $96.74. The company has a market capitalization of $21.41 billion, a P/E ratio of 72.39 and a beta of 1.25.
Red Hat (NYSE:RHT) last released its earnings results on Monday, September 25th. The open-source software company reported $0.77 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.67 by $0.10. The firm had revenue of $723.60 million during the quarter, compared to analysts’ expectations of $699.56 million. Red Hat had a return on equity of 25.27% and a net margin of 11.49%. The company’s revenue was up 20.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.55 EPS. On average, equities research analysts predict that Red Hat, Inc. will post $2.79 earnings per share for the current fiscal year.
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.
Want to see what other hedge funds are holding RHT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Red Hat, Inc. (NYSE:RHT).
Receive News & Ratings for Red Hat Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Red Hat Inc. and related companies with MarketBeat.com's FREE daily email newsletter.