ING Groep NV decreased its holdings in Red Hat Inc (NYSE:RHT) by 91.6% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 12,677 shares of the open-source software company’s stock after selling 138,163 shares during the quarter. ING Groep NV’s holdings in Red Hat were worth $1,405,000 as of its most recent filing with the SEC.
Several other large investors have also added to or reduced their stakes in RHT. D.A. Davidson & CO. grew its holdings in Red Hat by 6.8% in 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 in the last quarter. Clear Perspective Advisors LLC bought a new position in Red Hat during the 2nd quarter valued at $112,000. Sun Life Financial INC boosted its stake in 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 valued at $114,000 after purchasing an additional 1,187 shares in the last quarter. Shine Investment Advisory Services Inc. bought a new position in Red Hat during the 2nd quarter valued at $117,000. Finally, State of Alaska Department of Revenue bought a new stake in shares of Red Hat during the 2nd quarter worth $122,000. Institutional investors and hedge funds own 93.85% of the company’s stock.
In related news, CEO James M. Whitehurst sold 12,000 shares of the stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $111.15, for a total transaction of $1,333,800.00. Following the sale, the chief executive officer now owns 392,979 shares in the company, valued at approximately $43,679,615.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director William S. Kaiser sold 14,000 shares of the stock in a transaction that occurred on Thursday, October 5th. The stock was sold at an average price of $114.79, for a total transaction of $1,607,060.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 34,172 shares of company stock worth $3,926,377. Company insiders own 0.66% of the company’s stock.
Shares of Red Hat Inc (NYSE RHT) traded down $4.95 during mid-day trading on Tuesday, hitting $120.31. 2,778,900 shares of the stock were exchanged, compared to its average volume of 1,656,303. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.30 and a current ratio of 1.30. The company has a market cap of $22,332.36, a PE ratio of 68.82, a price-to-earnings-growth ratio of 3.98 and a beta of 1.19. Red Hat Inc has a 12 month low of $68.54 and a 12 month high of $129.61.
Red Hat (NYSE:RHT) last announced its quarterly earnings results on Monday, September 25th. The open-source software company reported $0.77 EPS for the quarter, beating the Zacks’ consensus estimate of $0.67 by $0.10. Red Hat had a net margin of 11.49% and a return on equity of 25.27%. The business had revenue of $723.60 million for the quarter, compared to analyst estimates of $699.56 million. During the same quarter in the prior year, the business earned $0.55 EPS. Red Hat’s quarterly revenue was up 20.6% on a year-over-year basis. research analysts anticipate that Red Hat Inc will post 2 EPS for the current fiscal year.
Several equities research analysts have recently weighed in on RHT shares. Zacks Investment Research raised Red Hat from a “hold” rating to a “buy” rating and set a $120.00 price objective for the company in a research note on Thursday, September 21st. Stifel Nicolaus reiterated a “buy” rating and set a $115.00 price objective on shares of Red Hat in a report on Wednesday, September 20th. Drexel Hamilton reaffirmed a “buy” rating and issued a $127.00 price target on shares of Red Hat in a research report on Tuesday, September 19th. Moffett Nathanson initiated coverage on Red Hat in a research report on Wednesday, September 6th. They issued a “buy” rating on the stock. Finally, Mizuho reissued a “buy” rating and set a $125.00 target price (up from $109.00) on shares of Red Hat in a research report on Tuesday, September 26th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and twenty-four have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $111.86.
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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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