State of Tennessee Treasury Department lowered its stake in shares of Red Hat, Inc. (NYSE:RHT) by 34.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 48,693 shares of the open-source software company’s stock after selling 25,259 shares during the period. State of Tennessee Treasury Department’s holdings in Red Hat were worth $4,212,000 as of its most recent filing with the SEC.
A number of other large investors have also bought and sold shares of the company. YorkBridge Wealth Partners LLC increased its position in shares of Red Hat by 102.4% in the first quarter. YorkBridge Wealth Partners LLC now owns 1,538 shares of the open-source software company’s stock worth $136,000 after buying an additional 778 shares during the period. Fuller & Thaler Asset Management Inc. increased its position in shares of Red Hat by 183.3% in the third quarter. Fuller & Thaler Asset Management Inc. now owns 1,700 shares of the open-source software company’s stock worth $137,000 after buying an additional 1,100 shares during the period. CENTRAL TRUST Co increased its position in Red Hat by 8.2% in the first quarter. CENTRAL TRUST Co now owns 1,839 shares of the open-source software company’s stock worth $159,000 after buying an additional 139 shares during the last quarter. Goelzer Investment Management Inc. bought a new position in Red Hat during the first quarter worth about $204,000. Finally, United Bank bought a new position in Red Hat during the fourth quarter worth about $217,000. Institutional investors and hedge funds own 95.41% of the company’s stock.
Red Hat, Inc. (RHT) traded down 0.08% on Friday, hitting $87.85. The stock had a trading volume of 1,793,162 shares. Red Hat, Inc. has a 12 month low of $68.54 and a 12 month high of $92.49. The stock has a market cap of $15.62 billion, a P/E ratio of 63.20 and a beta of 1.30. The company’s 50 day moving average is $88.82 and its 200-day moving average is $82.24.
Red Hat (NYSE:RHT) last posted its earnings results on Monday, March 27th. The open-source software company reported $0.61 EPS for the quarter, hitting the consensus estimate of $0.61. The firm had revenue of $628.80 million for the quarter, compared to analyst estimates of $618.64 million. Red Hat had a return on equity of 22.04% and a net margin of 10.52%. Red Hat’s revenue for the quarter was up 15.7% compared to the same quarter last year. During the same period last year, the company earned $0.52 earnings per share. Analysts forecast that Red Hat, Inc. will post $2.63 EPS for the current year.
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A number of analysts have commented on RHT shares. Sanford C. Bernstein started coverage on shares of Red Hat in a research note on Wednesday, May 24th. They set a “market perform” rating and a $102.00 price target for the company. Oppenheimer Holdings, Inc. restated an “outperform” rating and set a $96.00 price target (up previously from $94.00) on shares of Red Hat in a research note on Wednesday, May 10th. Zacks Investment Research lowered shares of Red Hat from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 3rd. MKM Partners reiterated a “neutral” rating and issued a $82.00 target price (up previously from $75.00) on shares of Red Hat in a research note on Thursday, March 30th. Finally, CIBC reiterated a “buy” rating and issued a $94.00 target price on shares of Red Hat in a research note on Wednesday, March 29th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and twenty-one have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $91.51.
In other Red Hat news, EVP Paul J. Cormier sold 26,462 shares of the firm’s stock in a transaction that occurred on Thursday, June 8th. The stock was sold at an average price of $91.57, for a total value of $2,423,125.34. Following the sale, the executive vice president now directly owns 189,578 shares of the company’s stock, valued at $17,359,657.46. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Delisa Alexander sold 311 shares of the firm’s stock in a transaction that occurred on Wednesday, April 5th. The shares were sold at an average price of $85.75, for a total value of $26,668.25. Following the completion of the sale, the executive vice president now directly owns 37,373 shares in the company, valued at $3,204,734.75. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 301,336 shares of company stock worth $26,596,492. 0.76% of the stock is owned by corporate insiders.
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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