Hudson Valley Investment Advisors Inc. ADV grew its position in Red Hat Inc (NYSE:RHT) by 3.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 30,175 shares of the open-source software company’s stock after acquiring an additional 915 shares during the period. Hudson Valley Investment Advisors Inc. ADV’s holdings in Red Hat were worth $3,624,000 at the end of the most recent quarter.
Several other large investors have also recently modified their holdings of RHT. Vanguard Group Inc. boosted its holdings in Red Hat by 2.8% during the second quarter. Vanguard Group Inc. now owns 17,627,522 shares of the open-source software company’s stock worth $1,687,836,000 after buying an additional 479,615 shares in the last quarter. FMR LLC boosted its holdings in Red Hat by 10.8% during the second quarter. FMR LLC now owns 11,165,642 shares of the open-source software company’s stock worth $1,069,110,000 after buying an additional 1,085,953 shares in the last quarter. Northern Trust Corp boosted its holdings in Red Hat by 28.8% during the second quarter. Northern Trust Corp now owns 3,794,946 shares of the open-source software company’s stock worth $363,365,000 after buying an additional 848,777 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in Red Hat by 282.6% during the second quarter. Arrowstreet Capital Limited Partnership now owns 1,177,208 shares of the open-source software company’s stock worth $112,718,000 after buying an additional 869,550 shares in the last quarter. Finally, Janus Henderson Group PLC boosted its holdings in Red Hat by 3.1% during the second quarter. Janus Henderson Group PLC now owns 1,098,660 shares of the open-source software company’s stock worth $105,208,000 after buying an additional 32,871 shares in the last quarter. 94.32% of the stock is currently owned by institutional investors and hedge funds.
Red Hat Inc (NYSE RHT) traded down $0.21 during trading on Tuesday, reaching $125.95. 1,067,400 shares of the company were exchanged, compared to its average volume of 1,651,467. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.53. Red Hat Inc has a 52-week low of $72.60 and a 52-week high of $130.93. The stock has a market capitalization of $22,470.00, a P/E ratio of 68.45, a price-to-earnings-growth ratio of 3.85 and a beta of 1.19.
Red Hat (NYSE:RHT) last released its quarterly earnings data on Tuesday, December 19th. The open-source software company reported $0.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.70 by $0.03. Red Hat had a net margin of 12.14% and a return on equity of 26.23%. The company had revenue of $747.98 million during the quarter, compared to the consensus estimate of $734.69 million. During the same period in the previous year, the firm earned $0.61 earnings per share. Red Hat’s revenue for the quarter was up 21.6% on a year-over-year basis. analysts anticipate that Red Hat Inc will post 2.08 EPS for the current fiscal year.
In other Red Hat news, 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 transaction of $349,534.64. Following the completion of the sale, the insider now directly owns 8,751 shares in the company, valued at $1,059,133.53. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.66% of the stock is owned by insiders.
RHT has been the topic of a number of research analyst reports. Barclays boosted their price objective on shares of Red Hat from $105.00 to $120.00 and gave the stock an “overweight” rating in a report on Monday, September 18th. Bank of America reissued a “neutral” rating and set a $115.00 price objective (up previously from $105.00) on shares of Red Hat in a report on Tuesday, September 26th. Cowen reissued a “buy” rating and set a $136.00 price objective on shares of Red Hat in a report on Monday, December 11th. Wells Fargo & Co restated an “outperform” rating and set a $124.00 target price (up previously from $120.00) on shares of Red Hat in a research report on Wednesday, September 27th. Finally, Royal Bank of Canada lifted their target price on shares of Red Hat to $134.00 and gave the stock an “outperform” rating in a research report on Thursday, December 14th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and twenty-two have given a buy rating to the company. Red Hat presently has an average rating of “Buy” and a consensus price target of $124.25.
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Red Hat Company Profile
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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