Advisory Services Network LLC lowered its position in shares of Red Hat Inc (NYSE:RHT) by 91.4% in the fourth quarter, Holdings Channel reports. The institutional investor owned 728 shares of the open-source software company’s stock after selling 7,704 shares during the quarter. Advisory Services Network LLC’s holdings in Red Hat were worth $128,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in Red Hat by 0.6% in the third quarter. Vanguard Group Inc. now owns 18,703,926 shares of the open-source software company’s stock worth $2,548,970,000 after acquiring an additional 103,057 shares during the period. Vanguard Group Inc grew its holdings in shares of Red Hat by 0.6% during the 3rd quarter. Vanguard Group Inc now owns 18,703,926 shares of the open-source software company’s stock worth $2,548,970,000 after purchasing an additional 103,057 shares during the period. Oregon Public Employees Retirement Fund grew its holdings in shares of Red Hat by 11,583.7% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 10,095,436 shares of the open-source software company’s stock worth $57,000 after purchasing an additional 10,009,030 shares during the period. DF Dent & Co. Inc. grew its holdings in shares of Red Hat by 11.7% during the 3rd quarter. DF Dent & Co. Inc. now owns 1,061,674 shares of the open-source software company’s stock worth $144,685,000 after purchasing an additional 111,442 shares during the period. Finally, Neuberger Berman Group LLC increased its position in shares of Red Hat by 761.5% during the 3rd quarter. Neuberger Berman Group LLC now owns 1,010,801 shares of the open-source software company’s stock worth $137,752,000 after purchasing an additional 893,465 shares during the last quarter. 89.30% of the stock is currently owned by hedge funds and other institutional investors.
Shares of RHT opened at $183.25 on Friday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.26 and a current ratio of 1.27. Red Hat Inc has a 1 year low of $115.31 and a 1 year high of $183.58. The stock has a market cap of $32.28 billion, a PE ratio of 65.68, a price-to-earnings-growth ratio of 4.01 and a beta of 0.54.
Red Hat (NYSE:RHT) last announced its quarterly earnings data on Monday, March 25th. The open-source software company reported $1.16 earnings per share for the quarter, beating analysts’ consensus estimates of $1.01 by $0.15. Red Hat had a net margin of 12.91% and a return on equity of 35.35%. The firm had revenue of $879.00 million during the quarter, compared to analysts’ expectations of $885.64 million. During the same quarter in the previous year, the business posted $0.91 earnings per share. The business’s quarterly revenue was up 13.8% compared to the same quarter last year. As a group, analysts predict that Red Hat Inc will post 3.04 EPS for the current year.
In other Red Hat news, EVP Michael Cunningham sold 25,000 shares of the firm’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 value of $4,469,750.00. Following the completion of the transaction, the executive vice president now owns 25,071 shares of the company’s stock, valued at approximately $4,482,444.09. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.58% of the stock is owned by corporate insiders.
Several analysts recently issued reports on RHT shares. Monness Crespi & Hardt restated a “buy” rating and issued a $190.00 price objective (up from $186.00) on shares of Red Hat in a report on Monday, December 10th. ValuEngine lowered shares of Red Hat from a “strong-buy” rating to a “buy” rating in a research note on Monday, April 1st. Finally, Zacks Investment Research upgraded shares of Red Hat from a “hold” rating to a “buy” rating and set a $194.00 price target for the company in a research report on Monday, December 31st. Thirteen research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $168.41.
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Red Hat Company Profile
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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