New Mexico Educational Retirement Board grew its position in shares of Red Hat Inc (NYSE:RHT) by 3.0% during the 4th quarter, Holdings Channel reports. The firm owned 17,048 shares of the open-source software company’s stock after buying an additional 500 shares during the quarter. New Mexico Educational Retirement Board’s holdings in Red Hat were worth $2,047,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently modified their holdings of RHT. Zions Bancorporation acquired a new stake in shares of Red Hat during the third quarter worth about $164,000. Calton & Associates Inc. acquired a new stake in shares of Red Hat during the fourth quarter worth about $189,000. Winslow Evans & Crocker Inc. acquired a new stake in shares of Red Hat during the fourth quarter worth about $193,000. Aries Wealth Management acquired a new stake in shares of Red Hat during the fourth quarter worth about $210,000. Finally, Charter Trust Co. acquired a new stake in shares of Red Hat during the fourth quarter worth about $211,000. 94.77% of the stock is currently owned by institutional investors.
Shares of Red Hat Inc (RHT) opened at $142.71 on Friday. Red Hat Inc has a 12-month low of $80.93 and a 12-month high of $143.67. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.37 and a current ratio of 1.37. The stock has a market cap of $25,260.24, a P/E ratio of 73.56, a PEG ratio of 4.36 and a beta of 1.23.
Red Hat (NYSE:RHT) last posted its quarterly earnings results on Tuesday, December 19th. The open-source software company reported $0.73 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.70 by $0.03. Red Hat had a net margin of 12.14% and a return on equity of 26.23%. The company had revenue of $747.98 million during the quarter, compared to the consensus estimate of $734.69 million. During the same period last year, the firm earned $0.61 EPS. The company’s revenue for the quarter was up 21.6% on a year-over-year basis. sell-side analysts anticipate that Red Hat Inc will post 2.08 earnings per share for the current year.
In other news, Director William S. Kaiser sold 7,700 shares of Red Hat stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $130.00, for a total transaction of $1,001,000.00. Following the completion of the sale, the director now directly owns 61,652 shares in the company, valued at approximately $8,014,760. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO James M. Whitehurst sold 5,593 shares of Red Hat stock in a transaction that occurred on Wednesday, January 17th. The shares were sold at an average price of $124.87, for a total transaction of $698,397.91. Following the sale, the chief executive officer now owns 373,506 shares of the company’s stock, valued at $46,639,694.22. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 14,686 shares of company stock valued at $1,873,342. Insiders own 0.66% of the company’s stock.
Several equities research analysts have recently weighed in on the stock. Evercore ISI reiterated a “buy” rating and set a $140.00 target price on shares of Red Hat in a research note on Friday, February 2nd. Jefferies Group reiterated a “hold” rating and set a $119.00 target price on shares of Red Hat in a research note on Thursday, December 21st. Robert W. Baird reiterated a “hold” rating on shares of Red Hat in a research note on Wednesday, December 20th. Credit Suisse Group reiterated a “neutral” rating and set a $120.00 target price (up previously from $113.00) on shares of Red Hat in a research note on Wednesday, December 20th. Finally, Deutsche Bank reiterated a “buy” rating and set a $150.00 target price on shares of Red Hat in a research note on Wednesday, December 20th. One analyst has rated the stock with a sell rating, nine have given a hold rating and twenty-three have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $126.65.
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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.
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