Red Hat, Inc. (RHT) Shares Bought by AHL Partners LLP
AHL Partners LLP boosted its stake in Red Hat, Inc. (NYSE:RHT) by 97.3% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 68,605 shares of the open-source software company’s stock after purchasing an additional 33,838 shares during the quarter. AHL Partners LLP’s holdings in Red Hat were worth $6,569,000 as of its most recent SEC filing.
A number of other hedge funds also recently made changes to their positions in RHT. Pacer Advisors Inc. lifted its stake in Red Hat by 3.3% in the 1st quarter. Pacer Advisors Inc. now owns 3,462 shares of the open-source software company’s stock worth $299,000 after purchasing an additional 110 shares in the last quarter. Nordea Investment Management AB lifted its stake in Red Hat by 1.0% in the 1st quarter. Nordea Investment Management AB now owns 6,919 shares of the open-source software company’s stock worth $598,000 after purchasing an additional 70 shares in the last quarter. Alliancebernstein L.P. lifted its stake in Red Hat by 13.9% in the 1st quarter. Alliancebernstein L.P. now owns 345,363 shares of the open-source software company’s stock worth $29,874,000 after purchasing an additional 42,121 shares in the last quarter. OppenheimerFunds Inc. lifted its stake in Red Hat by 6.8% in the 1st quarter. OppenheimerFunds Inc. now owns 3,363 shares of the open-source software company’s stock worth $291,000 after purchasing an additional 215 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its stake in Red Hat by 0.4% in the 1st quarter. Principal Financial Group Inc. now owns 276,605 shares of the open-source software company’s stock worth $23,926,000 after purchasing an additional 1,030 shares in the last quarter. Institutional investors and hedge funds own 94.03% of the company’s stock.
A number of analysts have recently weighed in on the stock. Credit Suisse Group AG assumed coverage on shares of Red Hat in a report on Tuesday, September 5th. They issued a “neutral” rating and a $111.00 target price on the stock. BTIG Research reduced their target price on shares of Red Hat from $120.00 to $95.00 and set a “buy” rating on the stock in a report on Wednesday, June 21st. Rosenblatt Securities restated a “buy” rating and issued a $112.00 target price (up from $95.00) on shares of Red Hat in a report on Thursday, June 22nd. Piper Jaffray Companies restated a “hold” rating and issued a $100.00 target price on shares of Red Hat in a report on Sunday, August 27th. Finally, Moffett Nathanson assumed coverage on shares of Red Hat in a report on Wednesday, September 6th. They issued a “buy” rating on the stock. Ten analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $110.93.
Red Hat, Inc. (NYSE:RHT) opened at 115.52 on Friday. Red Hat, Inc. has a one year low of $68.54 and a one year high of $115.62. The company has a market capitalization of $20.50 billion, a P/E ratio of 79.12 and a beta of 1.25. The company’s 50-day moving average is $107.25 and its 200 day moving average is $95.46.
Red Hat (NYSE:RHT) last released 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 Thomson Reuters’ 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 firm had revenue of $723.60 million during the quarter, compared to analysts’ expectations of $699.56 million. During the same period last year, the business earned $0.55 earnings per share. Red Hat’s revenue was up 20.6% compared to the same quarter last year. On average, equities analysts anticipate that Red Hat, Inc. will post $2.79 earnings per share for the current year.
In other Red Hat news, CEO James M. Whitehurst sold 12,000 shares of Red Hat 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 in the company, valued at $43,679,615.85. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO James M. Whitehurst sold 9,122 shares of Red Hat stock in a transaction dated Tuesday, July 18th. The shares were sold at an average price of $98.02, for a total transaction of $894,138.44. Following the sale, the chief executive officer now owns 414,101 shares of the company’s stock, valued at $40,590,180.02. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 25,087 shares of company stock valued at $2,620,131. 0.66% of the stock is owned by company insiders.
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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