D.A. Davidson & CO. boosted its holdings in shares of Red Hat Inc (NYSE:RHT) by 60.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,769 shares of the open-source software company’s stock after buying an additional 1,038 shares during the period. D.A. Davidson & CO.’s holdings in Red Hat were worth $377,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also made changes to their positions in the company. Migdal Insurance & Financial Holdings Ltd. increased its position in Red Hat by 16,350.0% during the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 987 shares of the open-source software company’s stock valued at $133,000 after buying an additional 981 shares in the last quarter. Quad Cities Investment Group LLC acquired a new position in Red Hat during the 2nd quarter valued at about $134,000. Financial Architects Inc increased its position in Red Hat by 95.2% during the 2nd quarter. Financial Architects Inc now owns 1,025 shares of the open-source software company’s stock valued at $137,000 after buying an additional 500 shares in the last quarter. Truvestments Capital LLC acquired a new position in Red Hat during the 3rd quarter valued at about $138,000. Finally, Stratos Wealth Partners LTD. acquired a new position in Red Hat during the 3rd quarter valued at about $146,000. 96.99% of the stock is currently owned by institutional investors.
A number of brokerages have recently weighed in on RHT. Royal Bank of Canada increased their price objective on Red Hat to $190.00 in a report on Monday, October 29th. Nomura cut their price objective on Red Hat from $182.00 to $175.00 and set a “buy” rating on the stock in a report on Thursday, September 20th. Stifel Nicolaus cut their price objective on Red Hat from $172.00 to $160.00 and set a “buy” rating on the stock in a report on Thursday, September 20th. Citigroup cut their price objective on Red Hat from $167.00 to $163.00 and set a “buy” rating on the stock in a report on Thursday, September 20th. Finally, Needham & Company LLC began coverage on Red Hat in a report on Monday, October 22nd. They issued a “buy” rating and a $183.00 price objective on the stock. One analyst has rated the stock with a sell rating, sixteen have given a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. Red Hat has an average rating of “Hold” and an average target price of $163.48.
Shares of RHT opened at $177.85 on Thursday. Red Hat Inc has a 52 week low of $115.31 and a 52 week high of $179.49. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 0.40. The stock has a market capitalization of $31.42 billion, a PE ratio of 77.33, a P/E/G ratio of 4.63 and a beta of 0.70.
Red Hat (NYSE:RHT) last issued its earnings results on Wednesday, September 19th. The open-source software company reported $0.85 EPS for the quarter, topping analysts’ consensus estimates of $0.82 by $0.03. Red Hat had a return on equity of 31.80% and a net margin of 9.15%. The firm had revenue of $822.75 million for the quarter, compared to the consensus estimate of $828.12 million. During the same quarter in the prior year, the business earned $0.77 earnings per share. The company’s revenue was up 13.7% compared to the same quarter last year. On average, research analysts predict that Red Hat Inc will post 2.57 EPS for the current fiscal year.
In other news, CEO James M. Whitehurst sold 2,513 shares of the company’s stock in a transaction dated Wednesday, October 17th. The stock was sold at an average price of $125.03, for a total value of $314,200.39. Following the sale, the chief executive officer now owns 361,627 shares in the company, valued at $45,214,223.81. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Delisa Alexander sold 960 shares of the company’s stock in a transaction dated Wednesday, October 17th. The stock was sold at an average price of $125.03, for a total value of $120,028.80. Following the completion of the sale, the executive vice president now owns 33,217 shares in the company, valued at approximately $4,153,121.51. The disclosure for this sale can be found here. Insiders sold 3,631 shares of company stock worth $453,984 in the last 90 days. Company insiders own 0.58% of the company’s stock.
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About Red Hat
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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