Red Hat Inc (RHT) Holdings Trimmed by Chevy Chase Trust Holdings Inc.

Chevy Chase Trust Holdings Inc. lessened its holdings in Red Hat Inc (NYSE:RHT) by 3.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 275,762 shares of the open-source software company’s stock after selling 10,010 shares during the quarter. Chevy Chase Trust Holdings Inc. owned 0.15% of Red Hat worth $30,571,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. D.A. Davidson & CO. lifted its holdings in shares of Red Hat by 6.8% during the second quarter. D.A. Davidson & CO. now owns 1,071 shares of the open-source software company’s stock worth $102,000 after purchasing an additional 68 shares during the period. Nordea Investment Management AB lifted its holdings in shares of Red Hat by 1.3% during the second quarter. Nordea Investment Management AB now owns 7,011 shares of the open-source software company’s stock worth $671,000 after purchasing an additional 92 shares during the period. Gyroscope Capital Management Group LLC lifted its holdings in shares of Red Hat by 4.0% during the second quarter. Gyroscope Capital Management Group LLC now owns 2,429 shares of the open-source software company’s stock worth $233,000 after purchasing an additional 93 shares during the period. Outfitter Advisors LTD. lifted its holdings in shares of Red Hat by 0.9% during the second quarter. Outfitter Advisors LTD. now owns 11,120 shares of the open-source software company’s stock worth $1,065,000 after purchasing an additional 100 shares during the period. Finally, Gofen & Glossberg LLC IL lifted its holdings in shares of Red Hat by 0.3% during the second quarter. Gofen & Glossberg LLC IL now owns 44,097 shares of the open-source software company’s stock worth $4,222,000 after purchasing an additional 151 shares during the period. 93.85% of the stock is owned by hedge funds and other institutional investors.

Red Hat Inc (NYSE RHT) traded up $1.49 during trading on Friday, hitting $125.29. The stock had a trading volume of 1,101,263 shares, compared to its average volume of 1,373,703. The stock has a market capitalization of $22,337.70, a PE ratio of 68.84, a PEG ratio of 3.98 and a beta of 1.19. Red Hat Inc has a 1-year low of $68.54 and a 1-year high of $129.61. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.30 and a quick ratio of 1.30.

Red Hat (NYSE:RHT) last posted its quarterly earnings data on Monday, September 25th. The open-source software company reported $0.77 EPS for the quarter, beating the Zacks’ consensus estimate of $0.67 by $0.10. The business had revenue of $723.60 million during the quarter, compared to analysts’ expectations of $699.56 million. Red Hat had a return on equity of 25.27% and a net margin of 11.49%. The business’s revenue was up 20.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.55 earnings per share. equities analysts forecast that Red Hat Inc will post 2 EPS for the current fiscal year.

In other news, Director William S. Kaiser sold 14,000 shares of the business’s stock in a transaction that occurred on Thursday, October 5th. The stock was sold at an average price of $114.79, for a total value of $1,607,060.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Michael A. Kelly sold 2,888 shares of the business’s stock in a transaction that occurred on Wednesday, October 18th. The shares were sold at an average price of $121.03, for a total value of $349,534.64. Following the completion of the sale, the insider now owns 8,751 shares of the company’s stock, valued at $1,059,133.53. The disclosure for this sale can be found here. Insiders sold 34,172 shares of company stock valued at $3,926,377 over the last 90 days. Company insiders own 0.66% of the company’s stock.

A number of equities research analysts recently commented on the company. Robert W. Baird reaffirmed a “hold” rating on shares of Red Hat in a report on Tuesday, September 26th. BTIG Research reaffirmed a “buy” rating and set a $120.00 target price on shares of Red Hat in a report on Wednesday, September 27th. J P Morgan Chase & Co reaffirmed an “overweight” rating and set a $117.00 target price (up previously from $110.00) on shares of Red Hat in a report on Tuesday, September 26th. BMO Capital Markets reaffirmed a “market perform” rating and set a $128.00 target price (up previously from $107.00) on shares of Red Hat in a report on Tuesday, September 26th. Finally, Barclays lifted their target price on Red Hat from $120.00 to $122.00 and gave the stock an “overweight” rating in a report on Tuesday, September 26th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and twenty-four have given a buy rating to the stock. Red Hat presently has a consensus rating of “Buy” and a consensus price target of $111.86.

WARNING: This article was first posted by Transcript Daily and is the property of of Transcript Daily. If you are viewing this article on another website, it was illegally copied and reposted in violation of U.S. & international copyright and trademark laws. The correct version of this article can be accessed at https://transcriptdaily.com/2017/12/10/red-hat-inc-rht-holdings-trimmed-by-chevy-chase-trust-holdings-inc.html.

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.

Want to see what other hedge funds are holding RHT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Red Hat Inc (NYSE:RHT).

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

Receive News & Ratings for Red Hat Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Red Hat Inc and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply