Eaton Vance Management continued to hold its stake in Red Hat, Inc. (NYSE:RHT) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 116,264 shares of the open-source software company’s stock at the end of the 2nd quarter. Eaton Vance Management owned approximately 0.07% of Red Hat worth $11,132,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors have also recently modified their holdings of RHT. Shine Investment Advisory Services Inc. bought a new stake in Red Hat in the 2nd quarter valued at about $117,000. State of Alaska Department of Revenue bought a new stake in Red Hat during the 2nd quarter worth approximately $122,000. Bronfman E.L. Rothschild L.P. increased its holdings in Red Hat by 1.4% during the 1st quarter. Bronfman E.L. Rothschild L.P. now owns 1,521 shares of the open-source software company’s stock worth $132,000 after purchasing an additional 21 shares in the last quarter. Global X Management Co. LLC increased its holdings in Red Hat by 91.3% during the 2nd quarter. Global X Management Co. LLC now owns 1,542 shares of the open-source software company’s stock worth $148,000 after purchasing an additional 736 shares in the last quarter. Finally, Point72 Asia Hong Kong Ltd bought a new stake in Red Hat during the 1st quarter worth approximately $170,000. 94.21% of the stock is owned by institutional investors and hedge funds.
In other news, Director William S. Kaiser sold 4,006 shares of the business’s stock in a transaction on Friday, June 30th. The shares were sold at an average price of $96.43, for a total transaction of $386,298.58. Following the completion of the sale, the director now owns 91,808 shares of the company’s stock, valued at approximately $8,853,045.44. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Eric Ryan Shander sold 1,521 shares of the business’s stock in a transaction on Wednesday, July 26th. The shares were sold at an average price of $99.98, for a total transaction of $152,069.58. Following the sale, the chief financial officer now directly owns 9,913 shares of the company’s stock, valued at approximately $991,101.74. The disclosure for this sale can be found here. In the last three months, insiders have sold 44,087 shares of company stock valued at $4,265,012. Insiders own 0.66% of the company’s stock.
A number of analysts have commented on the company. KeyCorp reissued an “overweight” rating and set a $121.00 price objective on shares of Red Hat in a report on Friday. Moffett Nathanson assumed coverage on Red Hat in a report on Wednesday, September 6th. They set a “buy” rating for the company. Credit Suisse Group assumed coverage on Red Hat in a report on Tuesday, September 5th. They set a “neutral” rating and a $111.00 price objective for the company. Piper Jaffray Companies reissued a “hold” rating and set a $100.00 price objective on shares of Red Hat in a report on Sunday, August 27th. Finally, Zacks Investment Research lowered Red Hat from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 22nd. Eleven equities research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company’s stock. Red Hat has a consensus rating of “Buy” and an average target price of $99.80.
Shares of Red Hat, Inc. (NYSE RHT) opened at 107.62 on Tuesday. The stock has a market cap of $19.10 billion, a P/E ratio of 73.71 and a beta of 1.24. The firm’s 50 day moving average price is $101.88 and its 200 day moving average price is $92.11. Red Hat, Inc. has a 52-week low of $68.54 and a 52-week high of $108.13.
Red Hat (NYSE:RHT) last issued its quarterly earnings data on Tuesday, June 20th. The open-source software company reported $0.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.53 by $0.03. Red Hat had a net margin of 10.54% and a return on equity of 22.84%. The firm had revenue of $677 million during the quarter, compared to the consensus estimate of $647.42 million. During the same quarter in the previous year, the firm posted $0.50 EPS. The company’s revenue for the quarter was up 19.2% compared to the same quarter last year. On average, analysts expect that Red Hat, Inc. will post $2.69 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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