Sumitomo Mitsui Asset Management Company LTD Has $1.48 Million Holdings in Red Hat, Inc. (RHT)
Sumitomo Mitsui Asset Management Company LTD trimmed its holdings in shares of Red Hat, Inc. (NYSE:RHT) by 6.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 13,356 shares of the open-source software company’s stock after selling 905 shares during the quarter. Sumitomo Mitsui Asset Management Company LTD’s holdings in Red Hat were worth $1,480,000 at the end of the most recent quarter.
Other institutional investors have also bought and sold shares of the company. D.A. Davidson & CO. increased its position in Red Hat by 6.8% during the second quarter. D.A. Davidson & CO. now owns 1,071 shares of the open-source software company’s stock worth $102,000 after buying an additional 68 shares during the last quarter. Clear Perspective Advisors LLC acquired a new position in Red Hat during the second quarter worth $112,000. Sun Life Financial INC increased its position in Red Hat by 14,837.5% during the second quarter. Sun Life Financial INC now owns 1,195 shares of the open-source software company’s stock worth $114,000 after buying an additional 1,187 shares during the last quarter. Shine Investment Advisory Services Inc. acquired a new position in Red Hat during the second quarter worth $117,000. Finally, State of Alaska Department of Revenue acquired a new position in Red Hat during the second quarter worth $122,000. 94.79% of the stock is currently owned by hedge funds and other institutional investors.
In related news, EVP Delisa Alexander sold 1,073 shares of the firm’s stock in a transaction that occurred on Tuesday, October 17th. The shares were sold at an average price of $120.36, for a total value of $129,146.28. Following the completion of the sale, the executive vice president now owns 38,150 shares of the company’s stock, valued at $4,591,734. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director William S. Kaiser sold 14,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 5th. The shares were sold at an average price of $114.79, for a total transaction of $1,607,060.00. The disclosure for this sale can be found here. In the last three months, insiders sold 34,172 shares of company stock valued at $3,926,377. 0.66% of the stock is currently owned by company insiders.
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Shares of Red Hat, Inc. (RHT) opened at $121.64 on Friday. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 0.54. The firm has a market cap of $21,686.95, a P/E ratio of 66.84, a P/E/G ratio of 3.87 and a beta of 1.18. Red Hat, Inc. has a fifty-two week low of $68.54 and a fifty-two week high of $122.95.
Red Hat (NYSE:RHT) last issued its quarterly earnings results on Monday, September 25th. The open-source software company reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates of $0.67 by $0.10. The business had revenue of $723.60 million during 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%. Red Hat’s revenue for the quarter was up 20.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.55 earnings per share. research analysts expect that Red Hat, Inc. will post 2 EPS for the current year.
Several brokerages have recently issued reports on RHT. Deutsche Bank AG reaffirmed a “buy” rating and issued a $120.00 price target (up from $110.00) on shares of Red Hat in a research report on Tuesday, September 26th. Wells Fargo & Company reaffirmed an “outperform” rating and issued a $120.00 price target (up from $115.00) on shares of Red Hat in a research report on Tuesday, September 19th. Robert W. Baird reaffirmed a “hold” rating on shares of Red Hat in a research report on Tuesday, September 26th. Cowen and Company reaffirmed an “outperform” rating and issued a $120.00 price target on shares of Red Hat in a research report on Sunday, September 24th. Finally, Drexel Hamilton reaffirmed a “buy” rating and issued a $130.00 price target (up from $127.00) on shares of Red Hat in a research report on Monday, September 25th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and twenty-four have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $110.93.
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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