Teacher Retirement System of Texas Has $4.04 Million Stake in Red Hat, Inc. (RHT)
Teacher Retirement System of Texas grew its stake in shares of Red Hat, Inc. (NYSE:RHT) by 51.3% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 36,452 shares of the open-source software company’s stock after purchasing an additional 12,362 shares during the quarter. Teacher Retirement System of Texas’ holdings in Red Hat were worth $4,041,000 at the end of the most recent quarter.
Several other large investors also recently added to or reduced their stakes in the company. FMR LLC raised its holdings 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 valued at $1,069,110,000 after acquiring an additional 1,085,953 shares in the last quarter. Swedbank bought a new position in shares of Red Hat during the third quarter valued at approximately $115,424,000. American Century Companies Inc. raised its holdings in shares of 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 valued at $105,720,000 after acquiring an additional 939,604 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its holdings 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 valued at $112,718,000 after acquiring an additional 869,550 shares in the last quarter. Finally, Northern Trust Corp raised its holdings 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 valued at $363,365,000 after acquiring an additional 848,777 shares in the last quarter. 96.04% of the stock is owned by hedge funds and other institutional investors.
Shares of Red Hat, Inc. (RHT) opened at $125.95 on Monday. The firm has a market capitalization of $22,290.00, a price-to-earnings ratio of 69.20, a price-to-earnings-growth ratio of 4.00 and a beta of 1.18. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.30 and a quick ratio of 1.30. Red Hat, Inc. has a 1-year low of $68.54 and a 1-year high of $126.67.
Red Hat (NYSE:RHT) last released its quarterly earnings results on Monday, September 25th. The open-source software company reported $0.77 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.67 by $0.10. The firm had revenue of $723.60 million during the quarter, compared to analyst estimates of $699.56 million. Red Hat had a return on equity of 25.27% and a net margin of 11.49%. The business’s revenue for the quarter was up 20.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.55 EPS. sell-side analysts predict that Red Hat, Inc. will post 2 earnings per share for the current fiscal year.
A number of equities analysts have issued reports on the company. Robert W. Baird reiterated a “hold” rating on shares of Red Hat in a report on Tuesday, September 26th. BTIG Research reiterated a “buy” rating and issued a $120.00 price objective on shares of Red Hat in a report on Wednesday, September 27th. J P Morgan Chase & Co restated an “overweight” rating and set a $117.00 price target (up from $110.00) on shares of Red Hat in a report on Tuesday, September 26th. BMO Capital Markets restated a “market perform” rating and set a $128.00 price target (up from $107.00) on shares of Red Hat in a report on Tuesday, September 26th. Finally, Barclays PLC raised their price target on Red Hat from $120.00 to $122.00 and gave the company an “overweight” rating in a report on Tuesday, September 26th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and twenty-four have assigned a buy rating to the stock. Red Hat currently has a consensus rating of “Buy” and an average target price of $110.93.
In related news, Director Eugene Beukman sold 100,000 shares of the company’s stock in a transaction dated Friday, November 10th. The stock was sold at an average price of $0.73, for a total transaction of $73,000.00. Also, CEO James M. Whitehurst sold 12,000 shares of the company’s stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $111.15, for a total value of $1,333,800.00. Following the transaction, the chief executive officer now directly owns 392,979 shares in the company, valued at $43,679,615.85. The disclosure for this sale can be found here. Insiders have sold a total of 234,172 shares of company stock worth $4,072,377 over the last ninety days. 0.66% of the stock is currently owned by corporate 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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