Teachers Advisors LLC lowered its position in shares of Red Hat Software (NYSE:RHT) by 9.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 615,244 shares of the open-source software company’s stock after selling 66,787 shares during the period. Teachers Advisors LLC owned about 0.35% of Red Hat Software worth $73,891,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of the business. QS Investors LLC grew its holdings in shares of Red Hat Software by 2.3% during the 4th quarter. QS Investors LLC now owns 16,799 shares of the open-source software company’s stock worth $2,018,000 after acquiring an additional 374 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its position in Red Hat Software by 1.5% in the 4th quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 27,091 shares of the open-source software company’s stock valued at $3,334,000 after acquiring an additional 400 shares in the last quarter. Oakbrook Investments LLC lifted its position in Red Hat Software by 3.1% in the 4th quarter. Oakbrook Investments LLC now owns 14,205 shares of the open-source software company’s stock valued at $1,706,000 after acquiring an additional 430 shares in the last quarter. Standard Life Aberdeen plc lifted its position in Red Hat Software by 1.4% in the 4th quarter. Standard Life Aberdeen plc now owns 31,938 shares of the open-source software company’s stock valued at $3,836,000 after acquiring an additional 448 shares in the last quarter. Finally, New Mexico Educational Retirement Board lifted its position in Red Hat Software by 3.0% in the 4th quarter. New Mexico Educational Retirement Board now owns 17,048 shares of the open-source software company’s stock valued at $2,047,000 after acquiring an additional 500 shares in the last quarter. 95.75% of the stock is owned by hedge funds and other institutional investors.
Several equities analysts have recently weighed in on the company. Nomura increased their price target on Red Hat Software from $152.00 to $182.00 and gave the company a “buy” rating in a report on Tuesday, March 27th. Oppenheimer increased their price target on Red Hat Software from $140.00 to $175.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 27th. Bank of America increased their price target on Red Hat Software from $115.00 to $130.00 and gave the stock an “underperform” rating in a research note on Tuesday, March 27th. Mizuho lowered Red Hat Software from a “buy” rating to a “neutral” rating and raised their price objective for the company from $140.00 to $160.00 in a research report on Monday, March 12th. Finally, Royal Bank of Canada lifted their price target on Red Hat Software to $160.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 21st. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and twenty-three have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $152.13.
In other news, Director William S. Kaiser sold 7,700 shares of the company’s stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $130.00, for a total value of $1,001,000.00. Following the transaction, the director now directly owns 61,652 shares in the company, valued at approximately $8,014,760. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Delisa Alexander sold 1,393 shares of the company’s stock in a transaction that occurred on Wednesday, January 17th. The stock was sold at an average price of $124.87, for a total transaction of $173,943.91. Following the completion of the transaction, the executive vice president now owns 36,420 shares in the company, valued at $4,547,765.40. The disclosure for this sale can be found here. In the last three months, insiders sold 14,686 shares of company stock valued at $1,873,342. Corporate insiders own 0.66% of the company’s stock.
NYSE RHT traded down $1.90 during trading hours on Friday, hitting $149.17. 1,057,175 shares of the company’s stock traded hands, compared to its average volume of 2,125,713. Red Hat Software has a 52-week low of $84.16 and a 52-week high of $167.36. The stock has a market cap of $26,740.04, a PE ratio of 64.86, a P/E/G ratio of 3.81 and a beta of 1.07. The company has a current ratio of 1.36, a quick ratio of 1.37 and a debt-to-equity ratio of 0.51.
Red Hat Software (NYSE:RHT) last posted its quarterly earnings results on Monday, March 26th. The open-source software company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.10. Red Hat Software had a net margin of 8.86% and a return on equity of 29.36%. The business had revenue of $772.00 million during the quarter, compared to analysts’ expectations of $761.87 million. During the same quarter in the prior year, the company posted $0.61 EPS. The business’s revenue for the quarter was up 22.8% on a year-over-year basis. sell-side analysts forecast that Red Hat Software will post 2.52 EPS for the current fiscal year.
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Red Hat Software 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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