Norinchukin Bank The raised its holdings in shares of Red Hat Inc (NYSE:RHT) by 7.1% in the 4th quarter, Holdings Channel reports. The firm owned 14,146 shares of the open-source software company’s stock after purchasing an additional 938 shares during the quarter. Norinchukin Bank The’s holdings in Red Hat were worth $1,699,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds have also added to or reduced their stakes in RHT. Zions Bancorporation acquired a new position in shares of Red Hat during the third quarter valued at $164,000. Calton & Associates Inc. acquired a new position in shares of Red Hat during the fourth quarter valued at $189,000. Winslow Evans & Crocker Inc. acquired a new position in shares of Red Hat during the fourth quarter valued at $193,000. Aries Wealth Management acquired a new position in shares of Red Hat during the fourth quarter valued at $210,000. Finally, ARP Americas LP acquired a new position in shares of Red Hat during the fourth quarter valued at $204,000. Hedge funds and other institutional investors own 95.61% of the company’s stock.
Shares of Red Hat Inc (NYSE RHT) opened at $146.62 on Friday. The firm has a market cap of $25,605.44, a PE ratio of 74.57, a P/E/G ratio of 4.42 and a beta of 1.23. Red Hat Inc has a 1-year low of $80.93 and a 1-year high of $147.90. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.37 and a quick ratio of 1.37.
Red Hat (NYSE:RHT) last posted its quarterly earnings data on Tuesday, December 19th. The open-source software company reported $0.73 earnings per share for the quarter, topping the consensus estimate of $0.70 by $0.03. The business had revenue of $747.98 million during the quarter, compared to the consensus estimate of $734.69 million. Red Hat had a net margin of 12.14% and a return on equity of 26.23%. The company’s quarterly revenue was up 21.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.61 earnings per share. analysts forecast that Red Hat Inc will post 2.08 EPS for the current fiscal year.
In other Red Hat news, CEO James M. Whitehurst sold 5,593 shares of the business’s stock in a transaction dated Wednesday, January 17th. The shares were sold at an average price of $124.87, for a total value of $698,397.91. Following the sale, the chief executive officer now directly owns 373,506 shares in the company, valued at $46,639,694.22. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director William S. Kaiser sold 7,700 shares of the business’s stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $130.00, for a total transaction of $1,001,000.00. Following the completion of the sale, the director now owns 61,652 shares in the company, valued at $8,014,760. The disclosure for this sale can be found here. Insiders sold 14,686 shares of company stock valued at $1,873,342 in the last ninety days. Corporate insiders own 0.66% of the company’s stock.
Several equities analysts have recently issued reports on the stock. Oppenheimer reissued a “buy” rating and set a $140.00 price target (up previously from $125.00) on shares of Red Hat in a report on Wednesday, December 20th. Deutsche Bank reissued a “buy” rating and set a $150.00 price target on shares of Red Hat in a report on Wednesday, December 20th. KeyCorp reissued an “overweight” rating and set a $135.00 price target (up previously from $125.00) on shares of Red Hat in a report on Monday, December 4th. Cowen reissued a “buy” rating and set a $136.00 price target on shares of Red Hat in a report on Monday, December 11th. Finally, BMO Capital Markets boosted their price target on shares of Red Hat from $128.00 to $142.00 and gave the company a “market perform” rating in a report on Wednesday, December 20th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and twenty-three have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $126.65.
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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