Partner Fund Management L.P. Has $52.93 Million Stake in Red Hat Inc (RHT)

Partner Fund Management L.P. grew its position in Red Hat Inc (NYSE:RHT) by 182.2% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 388,407 shares of the open-source software company’s stock after buying an additional 250,773 shares during the quarter. Partner Fund Management L.P. owned 0.22% of Red Hat worth $52,932,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the company. Partner Investment Management L.P. grew its holdings in shares of Red Hat by 171.5% during the 3rd quarter. Partner Investment Management L.P. now owns 10,080 shares of the open-source software company’s stock valued at $1,374,000 after purchasing an additional 6,367 shares during the last quarter. Gagnon Securities LLC grew its holdings in shares of Red Hat by 12.5% during the 3rd quarter. Gagnon Securities LLC now owns 107,032 shares of the open-source software company’s stock valued at $14,586,000 after purchasing an additional 11,885 shares during the last quarter. Kornitzer Capital Management Inc. KS grew its holdings in shares of Red Hat by 33.1% during the 3rd quarter. Kornitzer Capital Management Inc. KS now owns 238,551 shares of the open-source software company’s stock valued at $32,510,000 after purchasing an additional 59,375 shares during the last quarter. Bridgewater Associates LP bought a new stake in shares of Red Hat during the 3rd quarter valued at approximately $1,840,000. Finally, Sowell Financial Services LLC bought a new stake in shares of Red Hat during the 3rd quarter valued at approximately $235,000. Institutional investors own 96.99% of the company’s stock.

NYSE:RHT opened at $177.85 on Wednesday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.23 and a current ratio of 1.23. Red Hat Inc has a 52 week low of $115.31 and a 52 week high of $179.49. The firm has a market capitalization of $31.42 billion, a PE ratio of 77.33, a PEG ratio of 4.63 and a beta of 0.70.

Red Hat (NYSE:RHT) last posted its quarterly earnings data on Wednesday, September 19th. The open-source software company reported $0.85 EPS for the quarter, beating the Zacks’ consensus estimate of $0.82 by $0.03. Red Hat had a net margin of 9.15% and a return on equity of 31.80%. The company had revenue of $822.75 million for the quarter, compared to analyst estimates of $828.12 million. During the same period in the prior year, the firm posted $0.77 EPS. The company’s quarterly revenue was up 13.7% on a year-over-year basis. Equities research analysts forecast that Red Hat Inc will post 2.57 earnings per share for the current year.

In related news, EVP Delisa Alexander sold 960 shares of the business’s stock in a transaction on Wednesday, October 17th. The shares were sold at an average price of $125.03, for a total transaction of $120,028.80. Following the transaction, the executive vice president now owns 33,217 shares in the company, valued at approximately $4,153,121.51. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO James M. Whitehurst sold 2,513 shares of the business’s stock in a transaction on Wednesday, October 17th. The shares were sold at an average price of $125.03, for a total transaction of $314,200.39. Following the transaction, the chief executive officer now owns 361,627 shares in the company, valued at approximately $45,214,223.81. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 3,631 shares of company stock worth $453,984. Insiders own 0.58% of the company’s stock.

RHT has been the topic of a number of research reports. Needham & Company LLC lowered shares of Red Hat from a “buy” rating to a “hold” rating in a report on Monday, November 5th. Nomura lowered shares of Red Hat from a “buy” rating to a “hold” rating and boosted their target price for the stock from $175.00 to $190.00 in a report on Tuesday, October 30th. Citigroup lowered shares of Red Hat from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $163.00 to $190.00 in a report on Tuesday, October 30th. ValuEngine raised shares of Red Hat from a “buy” rating to a “strong-buy” rating in a report on Monday, October 29th. Finally, Royal Bank of Canada boosted their target price on shares of Red Hat to $190.00 in a report on Monday, October 29th. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $163.48.

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Red Hat 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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Institutional Ownership by Quarter for Red Hat (NYSE:RHT)

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