Red Hat Inc. (RHT) Shares Sold by Strs Ohio
Strs Ohio cut its stake in Red Hat Inc. (NYSE:RHT) by 27.2% during the second quarter, Holdings Channel reports. The firm owned 1,051,570 shares of the open-source software company’s stock after selling 392,523 shares during the period. Strs Ohio’s holdings in Red Hat were worth $76,343,000 as of its most recent SEC filing.
Other large investors have also recently added to or reduced their stakes in the company. Hills Bank & Trust Co. purchased a new stake in Red Hat during the second quarter valued at about $222,000. Acrospire Investment Management LLC bought a new stake in shares of Red Hat during the first quarter worth $261,000. Creative Planning raised its stake in shares of Red Hat by 4.5% in the second quarter. Creative Planning now owns 4,019 shares of the open-source software company’s stock worth $292,000 after buying an additional 174 shares during the last quarter. YHB Investment Advisors Inc. bought a new stake in shares of Red Hat during the second quarter worth $302,000. Finally, Capital One National Association bought a new stake in shares of Red Hat during the second quarter worth $317,000. Hedge funds and other institutional investors own 95.22% of the company’s stock.
Red Hat Inc. (NYSE:RHT) traded down 0.21% during midday trading on Tuesday, hitting $75.78. 1,430,984 shares of the stock were exchanged. The stock has a market cap of $13.72 billion, a P/E ratio of 66.47 and a beta of 1.32. Red Hat Inc. has a one year low of $59.59 and a one year high of $84.44. The firm has a 50-day moving average price of $73.96 and a 200-day moving average price of $74.09.
RHT has been the subject of a number of research analyst reports. Vetr upgraded shares of Red Hat from a “buy” rating to a “strong-buy” rating and set a $81.54 price objective for the company in a report on Thursday, September 8th. Mizuho reiterated a “buy” rating and set a $88.00 price objective on shares of Red Hat in a report on Wednesday, September 14th. Deutsche Bank AG reiterated a “buy” rating and set a $95.00 price objective on shares of Red Hat in a report on Saturday, August 13th. Oppenheimer Holdings Inc. reiterated a “buy” rating and set a $88.00 price objective on shares of Red Hat in a report on Monday, June 6th. Finally, Royal Bank Of Canada reiterated a “buy” rating on shares of Red Hat in a report on Thursday, June 16th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $87.69.
In other Red Hat news, EVP Michael Cunningham sold 10,000 shares of the firm’s stock in a transaction on Tuesday, July 26th. The stock was sold at an average price of $75.00, for a total value of $750,000.00. Following the completion of the sale, the executive vice president now owns 52,484 shares of the company’s stock, valued at $3,936,300. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Delisa Alexander sold 2,395 shares of the firm’s stock in a transaction on Tuesday, July 19th. The shares were sold at an average price of $72.83, for a total value of $174,427.85. Following the completion of the sale, the executive vice president now directly owns 60,780 shares of the company’s stock, valued at approximately $4,426,607.40. The disclosure for this sale can be found here. Corporate insiders own 0.76% of the company’s stock.
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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