William Blair Investment Management LLC cut its holdings in Red Hat Inc (NYSE:RHT) by 38.3% during the 4th quarter, HoldingsChannel reports. The fund owned 1,611,879 shares of the open-source software company’s stock after selling 1,000,876 shares during the quarter. William Blair Investment Management LLC’s holdings in Red Hat were worth $193,587,000 at the end of the most recent reporting period.
Other institutional investors have also modified their holdings of the company. We Are One Seven LLC bought a new stake in Red Hat in the fourth quarter worth about $105,000. Zions Bancorporation bought a new stake in Red Hat in the third quarter worth about $164,000. Avestar Capital LLC bought a new stake in Red Hat in the fourth quarter worth about $168,000. Calton & Associates Inc. bought a new stake in Red Hat in the fourth quarter worth about $189,000. Finally, Winslow Evans & Crocker Inc. bought a new stake in Red Hat in the fourth quarter worth about $193,000. Hedge funds and other institutional investors own 95.71% of the company’s stock.
Several equities research analysts have commented on RHT shares. KeyCorp reiterated an “overweight” rating and issued a $135.00 price target (up from $125.00) on shares of Red Hat in a research report on Monday, December 4th. Zacks Investment Research upgraded shares of Red Hat from a “hold” rating to a “buy” rating and set a $140.00 price target on the stock in a research report on Tuesday, December 5th. Cowen reiterated a “buy” rating and issued a $136.00 price target on shares of Red Hat in a research report on Monday, December 11th. Mizuho boosted their price target on shares of Red Hat from $125.00 to $140.00 and gave the stock a “buy” rating in a research report on Wednesday, December 13th. Finally, Barclays reiterated a “buy” rating and issued a $145.00 price target on shares of Red Hat in a research report on Wednesday, December 13th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and twenty-two have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $128.77.
In other Red Hat news, Director William S. Kaiser sold 7,700 shares of Red Hat stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $130.00, for a total transaction of $1,001,000.00. Following the transaction, the director now owns 61,652 shares of the company’s stock, valued at approximately $8,014,760. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO James M. Whitehurst sold 5,593 shares of Red Hat stock in a transaction dated Wednesday, January 17th. The shares were sold at an average price of $124.87, for a total value of $698,397.91. Following the transaction, the chief executive officer now directly owns 373,506 shares in the company, valued at approximately $46,639,694.22. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 14,686 shares of company stock worth $1,873,342. Company insiders own 0.66% of the company’s stock.
RHT stock traded down $0.65 during trading hours on Wednesday, reaching $154.63. The company’s stock had a trading volume of 191,104 shares, compared to its average volume of 1,677,306. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.53. Red Hat Inc has a 52 week low of $81.06 and a 52 week high of $157.22. The stock has a market cap of $26,924.13, a PE ratio of 84.85, a PEG ratio of 4.03 and a beta of 1.06.
Red Hat (NYSE:RHT) last released its earnings results on Tuesday, December 19th. The open-source software company reported $0.73 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.70 by $0.03. Red Hat had a return on equity of 26.23% and a net margin of 12.14%. The company had revenue of $747.98 million for the quarter, compared to analysts’ expectations of $734.69 million. During the same quarter in the previous year, the business posted $0.61 EPS. The business’s revenue for the quarter was up 21.6% on a year-over-year basis. sell-side analysts forecast that Red Hat Inc will post 2.08 EPS for the current year.
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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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