California State Teachers Retirement System Cuts Holdings in Red Hat Inc (RHT)
California State Teachers Retirement System cut its stake in shares of Red Hat Inc (NYSE:RHT) by 9.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 294,286 shares of the open-source software company’s stock after selling 29,914 shares during the period. California State Teachers Retirement System owned 0.17% of Red Hat worth $32,625,000 at the end of the most recent quarter.
A number of other hedge funds also recently modified their holdings of the business. Vanguard Group Inc. increased its stake in Red Hat by 2.8% in the second quarter. Vanguard Group Inc. now owns 17,627,522 shares of the open-source software company’s stock valued at $1,687,836,000 after acquiring an additional 479,615 shares during the last quarter. FMR LLC grew its stake in shares of 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 during the last quarter. Northern Trust Corp grew its stake in shares of 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 during the last quarter. TIAA CREF Investment Management LLC grew its stake in shares of Red Hat by 34.4% during the second quarter. TIAA CREF Investment Management LLC now owns 1,302,954 shares of the open-source software company’s stock worth $124,758,000 after buying an additional 333,408 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its stake in shares of 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 during the last quarter. Hedge funds and other institutional investors own 93.85% of the company’s stock.
Red Hat Inc (RHT) traded up $2.65 during trading hours on Friday, hitting $128.78. 2,184,787 shares of the stock traded hands, compared to its average volume of 1,368,080. Red Hat Inc has a one year low of $68.54 and a one year high of $129.61. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 0.54. The company has a market capitalization of $22,959.93, a P/E ratio of 70.76, a PEG ratio of 4.09 and a beta of 1.19.
Red Hat (NYSE:RHT) last issued its quarterly earnings data on Monday, September 25th. The open-source software company reported $0.77 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.67 by $0.10. Red Hat had a net margin of 11.49% and a return on equity of 25.27%. The business had revenue of $723.60 million during the quarter, compared to the consensus estimate of $699.56 million. During the same period in the prior year, the firm posted $0.55 EPS. The firm’s quarterly revenue was up 20.6% compared to the same quarter last year. equities research analysts predict that Red Hat Inc will post 2 earnings per share for the current year.
RHT has been the topic of a number of research reports. Zacks Investment Research cut shares of Red Hat from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 22nd. Piper Jaffray Companies reaffirmed a “hold” rating and set a $100.00 target price on shares of Red Hat in a research note on Sunday, August 27th. Credit Suisse Group initiated coverage on shares of Red Hat in a research note on Tuesday, September 5th. They set a “neutral” rating and a $111.00 target price on the stock. Moffett Nathanson started coverage on shares of Red Hat in a research note on Wednesday, September 6th. They set a “buy” rating on the stock. Finally, KeyCorp reiterated an “overweight” rating and set a $121.00 price target on shares of Red Hat in a report on Friday, September 8th. One analyst has rated the stock with a sell rating, nine have given a hold rating and twenty-four have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $115.74.
In other Red Hat news, insider Michael A. Kelly sold 2,888 shares of the company’s stock in a transaction dated 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 directly owns 8,751 shares of the company’s stock, valued at approximately $1,059,133.53. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Delisa Alexander sold 1,073 shares of the company’s stock in a transaction dated Tuesday, October 17th. The stock was sold at an average price of $120.36, for a total transaction of $129,146.28. Following the completion of the sale, the executive vice president now directly owns 38,150 shares of the company’s stock, valued at $4,591,734. The disclosure for this sale can be found here. Insiders sold a total of 34,172 shares of company stock valued at $3,926,377 over the last ninety days. 0.66% of the stock is currently owned by insiders.
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Red Hat 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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