Point72 Asset Management L.P. Has $3.24 Million Stake in Red Hat Inc (RHT)
Point72 Asset Management L.P. lifted its position in Red Hat Inc (NYSE:RHT) by 9.8% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 29,200 shares of the open-source software company’s stock after buying an additional 2,600 shares during the period. Point72 Asset Management L.P.’s holdings in Red Hat were worth $3,237,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in Red Hat by 2.8% during the 2nd quarter. Vanguard Group Inc. now owns 17,627,522 shares of the open-source software company’s stock worth $1,687,836,000 after purchasing an additional 479,615 shares in the last quarter. FMR LLC grew its holdings in shares of Red Hat by 10.8% in the 2nd quarter. FMR LLC now owns 11,165,642 shares of the open-source software company’s stock valued at $1,069,110,000 after acquiring an additional 1,085,953 shares in the last quarter. Northern Trust Corp grew its holdings in shares of Red Hat by 28.8% in the 2nd quarter. Northern Trust Corp now owns 3,794,946 shares of the open-source software company’s stock valued at $363,365,000 after acquiring an additional 848,777 shares in the last quarter. TIAA CREF Investment Management LLC grew its holdings in shares of Red Hat by 34.4% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 1,302,954 shares of the open-source software company’s stock valued at $124,758,000 after acquiring an additional 333,408 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its holdings in shares of Red Hat by 282.6% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 1,177,208 shares of the open-source software company’s stock valued at $112,718,000 after acquiring an additional 869,550 shares in the last quarter. Institutional investors and hedge funds own 93.57% of the company’s stock.
In other news, CEO James M. Whitehurst sold 12,000 shares of the business’s stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $111.15, for a total transaction of $1,333,800.00. Following the completion of the sale, the chief executive officer now directly owns 392,979 shares of the company’s stock, valued at $43,679,615.85. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Michael A. Kelly sold 2,888 shares of the company’s stock in a transaction dated Wednesday, October 18th. The stock was 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 of the company’s stock, valued at $1,059,133.53. The disclosure for this sale can be found here. Over the last three months, insiders have sold 34,172 shares of company stock valued at $3,926,377. 0.66% of the stock is currently owned by insiders.
Red Hat (NYSE:RHT) last posted its earnings results on Tuesday, December 19th. The open-source software company reported $0.73 EPS for the quarter, topping the consensus estimate of $0.70 by $0.03. The company 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 11.49% and a return on equity of 25.27%. The firm’s revenue for the quarter was up 21.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.61 earnings per share. research analysts anticipate that Red Hat Inc will post 2 EPS for the current year.
Several equities analysts have recently weighed in on RHT shares. Zacks Investment Research cut Red Hat from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 22nd. Credit Suisse Group started coverage on Red Hat in a report on Tuesday, September 5th. They issued a “neutral” rating and a $111.00 price objective for the company. Piper Jaffray Companies restated a “hold” rating and issued a $100.00 price objective on shares of Red Hat in a report on Sunday, August 27th. KeyCorp restated an “overweight” rating and issued a $121.00 price objective on shares of Red Hat in a report on Friday, September 8th. Finally, Royal Bank of Canada raised their target price on shares of Red Hat from $106.00 to $121.00 and gave the company an “outperform” rating in a research note on Wednesday, September 20th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and twenty-four have issued a buy rating to the company. Red Hat currently has an average rating of “Buy” and an average price target of $119.36.
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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