Red Hat, Inc. (RHT) Stake Lessened by Jennison Associates LLC
Jennison Associates LLC trimmed its holdings in shares of Red Hat, Inc. (NYSE:RHT) by 14.4% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 8,001,251 shares of the open-source software company’s stock after selling 1,349,933 shares during the period. Jennison Associates LLC owned about 4.49% of Red Hat worth $887,019,000 as of its most recent SEC filing.
A number of other large investors have also modified their holdings of RHT. FMR LLC boosted its holdings in 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 in the last quarter. Swedbank bought a new stake in Red Hat during the third quarter worth approximately $115,424,000. American Century Companies Inc. boosted its holdings in Red Hat by 6,697.1% during the third quarter. American Century Companies Inc. now owns 953,634 shares of the open-source software company’s stock worth $105,720,000 after buying an additional 939,604 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in 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 in the last quarter. Finally, Northern Trust Corp boosted its holdings in 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 in the last quarter. Hedge funds and other institutional investors own 95.14% of the company’s stock.
Red Hat, Inc. (RHT) traded down $0.08 during trading on Friday, hitting $123.42. 199,693 shares of the stock traded hands, compared to its average volume of 1,669,111. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.30 and a quick ratio of 1.30. The firm has a market capitalization of $22,093.45, a PE ratio of 68.09, a PEG ratio of 3.94 and a beta of 1.18. Red Hat, Inc. has a 12 month low of $68.54 and a 12 month high of $124.45.
Red Hat (NYSE:RHT) last announced its quarterly earnings data on Monday, September 25th. The open-source software company reported $0.77 EPS for the quarter, topping the Zacks’ consensus estimate of $0.67 by $0.10. The business had revenue of $723.60 million for the quarter, compared to analyst estimates of $699.56 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 20.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.55 earnings per share. equities research analysts forecast that Red Hat, Inc. will post 2 EPS for the current fiscal year.
A number of analysts recently weighed in on the stock. Bank of America Corporation restated an “underperform” rating and set a $115.00 target price on shares of Red Hat in a report on Tuesday, October 24th. Deutsche Bank AG restated a “buy” rating and set a $130.00 target price on shares of Red Hat in a report on Monday, October 2nd. BTIG Research reaffirmed a “buy” rating and issued a $120.00 price objective on shares of Red Hat in a research note on Wednesday, September 27th. Wells Fargo & Company reaffirmed an “outperform” rating and issued a $124.00 price objective (up previously from $120.00) on shares of Red Hat in a research note on Wednesday, September 27th. Finally, KeyCorp reaffirmed an “overweight” rating and issued a $125.00 price objective (up previously from $121.00) on shares of Red Hat in a research note on Tuesday, September 26th. One 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’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $110.93.
In other Red Hat news, insider Michael A. Kelly sold 2,888 shares of the company’s stock in a transaction on Wednesday, October 18th. The shares were sold at an average price of $121.03, for a total transaction of $349,534.64. Following the sale, the insider now directly owns 8,751 shares of the company’s stock, valued at $1,059,133.53. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Delisa Alexander sold 1,073 shares of the company’s stock in a transaction on Tuesday, October 17th. The stock was sold at an average price of $120.36, for a total transaction of $129,146.28. Following the sale, the executive vice president now directly owns 38,150 shares in the company, valued at $4,591,734. The disclosure for this sale can be found here. In the last three months, insiders sold 34,172 shares of company stock worth $3,926,377. 0.66% of the stock is currently owned by insiders.
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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