Asset Management One Co. Ltd. boosted its position in shares of Red Hat, Inc. (NYSE:RHT) by 1,737.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 324,709 shares of the open-source software company’s stock after buying an additional 307,033 shares during the period. Asset Management One Co. Ltd.’s holdings in Red Hat were worth $22,632,000 at the end of the most recent reporting period.
Several other hedge funds have also recently made changes to their positions in RHT. Sumitomo Mitsui Asset Management Company LTD raised its stake in shares of Red Hat by 1.5% in the second quarter. Sumitomo Mitsui Asset Management Company LTD now owns 13,697 shares of the open-source software company’s stock worth $994,000 after buying an additional 209 shares during the last quarter. Quantbot Technologies LP increased its position in shares of Red Hat by 14,408.9% in the second quarter. Quantbot Technologies LP now owns 58,616 shares of the open-source software company’s stock worth $4,255,000 after buying an additional 58,212 shares during the last quarter. Rail Splitter Capital Management LLC increased its position in shares of Red Hat by 19.1% in the second quarter. Rail Splitter Capital Management LLC now owns 220,364 shares of the open-source software company’s stock worth $15,998,000 after buying an additional 35,270 shares during the last quarter. DE Burlo Group Inc. acquired a new position in shares of Red Hat during the second quarter worth about $5,760,000. Finally, NCM Capital Advisers Inc. increased its position in shares of Red Hat by 40.7% in the second quarter. NCM Capital Advisers Inc. now owns 9,826 shares of the open-source software company’s stock worth $713,000 after buying an additional 2,842 shares during the last quarter. Hedge funds and other institutional investors own 95.36% of the company’s stock.
Red Hat, Inc. (NYSE:RHT) traded up 1.08% during midday trading on Friday, hitting $82.41. 1,092,257 shares of the stock traded hands. Red Hat, Inc. has a one year low of $63.66 and a one year high of $82.73. The company has a market cap of $14.69 billion, a P/E ratio of 62.91 and a beta of 1.44. The company’s 50 day moving average is $75.39 and its 200-day moving average is $76.15.
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Red Hat (NYSE:RHT) last announced its quarterly earnings results on Wednesday, December 21st. The open-source software company reported $0.61 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.58 by $0.03. Red Hat had a net margin of 10.36% and a return on equity of 20.57%. The firm had revenue of $615 million for the quarter. During the same quarter in the prior year, the business earned $0.48 earnings per share. Red Hat’s revenue was up 17.5% compared to the same quarter last year. On average, equities research analysts forecast that Red Hat, Inc. will post $2.27 EPS for the current fiscal year.
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A number of equities analysts have recently issued reports on RHT shares. Zacks Investment Research downgraded Red Hat from a “buy” rating to a “hold” rating in a research report on Tuesday, November 15th. Rosenblatt Securities started coverage on Red Hat in a research report on Monday, November 28th. They set a “buy” rating and a $95.00 price target on the stock. Vetr downgraded Red Hat from a “strong-buy” rating to a “buy” rating and set a $88.40 price target on the stock. in a research report on Tuesday, November 29th. BMO Capital Markets downgraded Red Hat from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $89.00 to $75.00 in a research report on Thursday, December 22nd. Finally, Mizuho reduced their price target on Red Hat from $88.00 to $80.00 and set a “buy” rating on the stock in a research report on Thursday, December 22nd. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and twenty-one have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $86.72.
In related news, EVP Delisa Alexander sold 16,712 shares of Red Hat stock in a transaction on Friday, January 20th. The shares were sold at an average price of $73.67, for a total transaction of $1,231,173.04. Following the sale, the executive vice president now directly owns 37,373 shares in the company, valued at approximately $2,753,268.91. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.76% of the stock is owned by company insiders.
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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